Buying a condominium or a townhouse for that matter is very similar to a single-family home but there are distinct differences. You will be dealing with the homeowners association when you buy into a condo or a townhouse community, very similar to a subdivision that might be gated or part of an HOA. Not only will you be paying a monthly mortgage payment along with principal, interest, and homeowners insurance but you’ll also be paying fees directly to the homeowners association. There are specific questions you should ask before buying a condominium. With so many townhouse/condo associations and developments throughout the Tri-Valley area, this is a common issue that I have with a lot of homebuyers. It’s best to understand the implications and the details of buying a condo before jumping into the transaction. [Read more…]