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| | Location: Home » Buying a House » General » The Complete Guide to Purchasing a Condo, Townhouse, or Apartment: What Smart Investors Need to Know - Explained Simply | August 20, 2008 |
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| The Complete Guide to Purchasing a Condo, Townhouse, or Apartment: What Smart Investors Need to Know - Explained Simply | 
 enlarge | Author: Susan Smith Alvis
Publisher: Atlantic Publishing Company (FL)
Category: Book
List Price: $24.95
Buy New: $14.72
You Save: $10.23 (41%)
Buy New/Used from $9.95
Avg. Customer Rating:  (8 reviews)
Sales Rank: 454773
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 1
Dimensions (in): 9 x 6 x 0.8
ISBN: 1601380364
Dewey Decimal Number: 333.338
EAN: 9781601380364
ASIN: 1601380364
Publication Date: August 24, 2007
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
While many of the steps in buying a home are the same as buying a condominium, townhouse, or apartment, there are many critical differences. This new book offers a complete overview of these special, usually smaller, residences. These units can be good options for first-time home buyers, for those who want a vacation getaway, investors, and those who want to downsize their living space. These housing units are usually less expensive than a single family home and can include attractive amenities. In purchasing one of these units there will be a lot of people to deal with, from realtors, condo boards, attorneys, to bankers. There s tons of paperwork with terms and vocabulary that read like a foreign language. In this new book you will find vital information and great strategies for finding the home you want faster and feeling confident about the purchase. You will learn to avoid some of the most prevalent and potentially dangerous and expensive mistakes made by others. The book covers the entire, unique process of buying one of these shared living houses in an easy-to-understand way, pointing out dozens of hints and suggestion as to what to look for as well as demonstrating the many mistakes common with these types of investments. You will learn how to find the best opportunities, to negotiate, finance, budget, handle pre-construction issues, set values, and make the offer. You will be able to define what you are buying (and what you are not) issues on your right to sell, lease, or mortgage. You will be prepared for restrictions pertaining to children, pets, parking, vehicles, boats, music, maintenance of windows, doors, screens, air conditioners, plumbing, club memberships, recreation facility leases, use of recreational facilities, and common areas. In addition, you will learn the advantages of using credit reports, home warranties, insurance, creative financing, closing procedures, moving plans, closing and settlement inspections, and certain legal contracts. You will have instruction in obtaining mortgages which government agencies can help, considerations for veterans, IRA use, hiring an attorney, calculating monthly payments, and establishing an escrow account. The real estate and mortgage glossaries alone are invaluable resources, even for the old hand at property acquisition.
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| Customer Reviews: Read 3 more reviews...
 too generic and don't expect much practical advise August 17, 2008
I am planning to buy a Townhouse or Condo in the near future. So, I was looking for a book which gives some practical advise comparing the shared housing with Single family residence and trends in the shared housing over the last few decades. I found this book and bought it looking at all these good reviews on amazon.
But, I am disappointed. The advise in this book is too simplistic. It basically boils down to two below points.
- You will have less maintenance in a Condo, Apartment or Townhouse compared to a Single Family Home
- You will have more privacy in a Single Family Home
Instead, I was looking for some practical advise based on the author's vast experience.
One thing is, this book doesn't have many practical experiences and examples. All the information and advise in this book may fit into a 5 page article.
From my limited experience of looking for townhomes here in San Francisco Bay Area, I can see lot of differences between townhouses built in 1970's, 1980's and in the last 15 years. Like the houses built before 1990 usually have more square footage and more patio space whereas ones after 1990 have less square footage, but a better home design in terms of home usability. I was not particularly looking for trends in California or Bayarea, rather at least high level mention of these trends. But, no where something like that was discussed.
Although book has 284 pages, the actual pages excluding Appendix is only 174 and the remaining Appendix pages have things like Mortgage Calculator, Glossary ..etc which you can easily find online. Also, the chapters doesn't seem to follow a logical flow.
All the above said, however, there is some useful information in this book like some general useful info about apartments, condos, townhouses, vacation homes and home owners association ..etc.
 Location, location, location... February 4, 2008
2 out of 3 found this review helpful
Despite all the fluctuations in the real estate market these days, buying a place of their own is still high on the list of priorities for many people. However, an increasing number of buyers are examining the advantages of shared housing space, as opposed to purchasing a house. Whether you're thinking about investing in a condo, townhouse or apartment for yourself or as an investment, first pick up a copy of Susan Smith Alvis' useful guide.
Alvis offers potential homeowners a better understanding of the difference between the different types of properties, and examines the benefits and drawbacks of shared housing. While some might prefer the greater degree of privacy provided by a single-family home, the alternative offers advantages such as low maintenance and a sense of community. But, Alvis notes, real estate professionals always say, "Location, location, location," for a good reason. Whether you're buying a condo, townhouse or apartment as a place to live or as a rental property, bear in mind that it is important to ask questions such as: Why is the property for sale? How many bedrooms and bathrooms does the place have? Is it close to schools, work, and shopping?
In addition to explaining important documents such as disclosure, and insurance forms, Alvis closes her book with an extensive glossary of property-related terms that are clearly defined. She also includes a financial table that will allow potential homeowners to calculate their monthly payments. So, before you buy, first invest in a copy of Alvis' valuable guide. She'll help you get the best value for your money.
 Great for the shared housing occupant OR investor! January 24, 2008
2 out of 3 found this review helpful
Realtor turned author Susan Smith Alvis knows how to generate a profit-- and in her latest title, "The Complete Guide to Purchasing a Condo, Townhouse, or Apartment", she provides a no-holds-barred, handy reference aimed at maximizing your multi-family property investment dollars. Here, Alvis draws upon her considerable knowledge and "insider's" perspective to lay bare the complexities -- from shopping to closing-- of these unique transactions utilizing a deceptively simple, straightforward tone and format; while her expertise is apparent throughout each chapter, the book's major strength lies in its easy readability and common-sense advice. Another plus -- though it is primarily oriented toward the first-time investor, the author has devoted substantial material to the buyer intent on occupying a shared housing unit full-time. No consumer is excluded, and, indeed, it is a fair assertion that even the seasoned landlord will glean new and relevant information from this guide.
Clearly, the work is tailored to the conscientious buyer. As such, Alvis: defines -- in a logical, step-by-step fashion -- the differences between these specialty properties; illustrates: the necessary considerations based upon the buyer's goals; uncovers: the challenges specific to these structures via varied scenarios; and, more importantly, educates. And, in addition to her own hard-earned insights, this veteran real estate professional includes solid counsel and oft-unknown purchase tips from colleagues representing a cross-section of national markets. These tips -- all gems and presented in a fun, "classified case study" quote context -- outline realistic scenarios designed to navigate the prospective condo, townhouse, or apartment owner through unforeseen wrinkles and avoid potential pitfalls so as to culminate in a successful sale, regardless of occupancy or investment intent.
Ultimately, "The Complete Guide to Purchasing a Condo, Townhouse, or Apartment" is an invaluable reference for the homeowner or investor considering a shared housing unit(s) acquisition.
A jewel of a find! January 17, 2008
3 out of 4 found this review helpful
You would be surprised at the differences between purchasing a house and opting for a condo, apartment or townhouse! This guide totally demystifies the documents and the process, laying bare the restrictions (the plusses too!) associated with shared living. My own changing lifestyle necessitated a move from a house with all its trappings, to a townhouse complex, and at first my misgivings left me with an air of uncertainty as to what to expect. The invaluable information I found in this handy manual took me step by step through the process, covering areas I am sure would have been overlooked. Those important documents including clauses relating to disclosure statements and warranties, options and ordinances, became a lot less threatening after my virtual tour of the entire process through this exhaustive guide. I even found to my utter delight, a full amortization table based on 30 years, a glossary that simplified much of the industry terminology, sample condominium rules and regulations, and last but not least, a questionnaire that prompted me to think of issues which may have later resulted in pesky little problems. The Complete Guide was for me, a jewel of a find!
Complete Guide to Purchasing a Condo December 20, 2007
3 out of 4 found this review helpful
The author takes great pains to dispel those lingering myths about condo ownership. She does this in a light easy tone. The book has a good layout in an easy to read format. The chapters flow nicely into one another. The author has included some very interesting case studies and anecdotes provide by others in the Real Estate field.
The book is full of strong practical advice. It also pulls no punches, she makes it clear that condo townhome ownership is not for everyone. She makes sure to cover not only the good points but the bad ones as well, especially in the area of Homeowners Associations-she explains their importance and how to deal with them. All of this done in an easy friendly manner with a welcome touch of humor.
The book is an excellent checklist for anyone considering buying.
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