Tips and Traps When Buying a Condo, Co-op, or Townhouse

by Robert Irwin and Robert Irwin

Steer clear of money pits and target the top properties in this hot investment sector

Condos, co-ops, and townhouses account for more than one-third of real estate sales in the United States. Fully updated to address the many changes that have occurred in the market since the first edition, Tips & Traps When Buying a Condo, Co-Op, or Townhouse, Second Edition, covers all the bases to help you navigate the process of buying...

• Format: Paperback
• Language: English
• ISBN: 0071467955
• ISBN13: 9780071467957
• Release Date: January 2007
• Publisher: McGraw-Hill Companies
• Length: 208 Pages
• Weight: 0.70 lbs.
• Dimensions: 0.7" x 6.2" x 8.9"

Customer Reviews

Very Informative Book

This is a very good, informative book on condos and townhouses. It is written in an easy-to-read style. I learned a lot, for example, did you know that when you buy a condo you're just buying an airspace up in the sky that just happens to be enclosed by a building? If an earthquake destroys the building in 50 seconds, you're out on the street, homeless, even though your airspace is still up there floating in space, and you will still owe the mortgage payments on it! Also, you have to get permission from the HOA (homeowner's association) to make any little changes to the condo or your unit. They are often power-mad control freaks who won't let you change anything, and there is political infighting. Makes you think twice about buying a condo! The author also covers all the sneaky traps lying in wait for the naive buyer. A must read for first time condo/townhouse buyers.

Great resource!

As someone just getting in the market, I really had no idea what differentiated condos from single-family homes other than the way they looked. This book really helped me think about the pros and cons of both types of homes. I found myself drawn to condos because you don't have to worry about any exterior elements, like yards, community areas, etc. All of that is taken care of for you. But, that comes with a cost. This book shows you how to decide if that cost is worth it, what to ask about so that you don't end up in a building with a bunch of lawsuits pending (that you might end up paying for) and how to know if your building is prepared for disasters, new roofs and other such events. It was really eye-opening!

Excellent source of information for the new home buyer!

Tip & Traps when Buying a Condo, Co-op, or Townhouse, was an excellent source of information. It is a "must have" for any new home buyer looking for property. I found it to be very helpful while searching for my home.

Read this book before you leap into a shared ownership

This book showed me the "red flags" to look for when evaluating a shared ownership developement and helped me to avoid buying into a nightmare. Ohhh, I'm so glad I read this book.I read 4 other books on buying a condo and this book was by far the most practical and answered my questions. The format is easy to read and quickly search.The tips and traps opens your eyes to what you're getting yourself into. Learn from the experiences of others and make the right choice for your lifestyle. Don't buy into a dysfunctional developement. It can be a legal, financial and emotional nightmare.Thanks to Robert Irwin's advice, I passed on several developements and kept searching until I found the right condo developement for me. It has been a great choice. The book was a helpful resource during the buying process. Highly recommend.

Quick, straight forward helpful advice

If you are even thinking of even buying a condo, townhouse or condo, this book is a definite buy. It's definitely worth the price to educate yourself about some things to look out for when looking to buy. It is in a question/answer/tip/trap quick and to the point format. I bought the book because it was recommended as one of the top ten real estate books to buy in the real estate section in the Washington Post for 2000. Highly recommend.