Aboveit all.
What you are actually buying
The view isthe easy part.
In a condominium you buy two things: the residence and the association that governs it. Reserves, deferred maintenance, rental policy, who holds title to the slip and the parking — these decide the true monthly cost and how easily you sell in five years. The documents are dry. They are also the whole negotiation.
- Read the numbers
- Reserve study, recent assessments, pending litigation, dues history.
- Read the rules
- Rental and pet policy, renovation approvals, dock and storage ownership.
What you can look for
6 searches · Penthouses
- 01
Penthouses
Top-floor city and shoreline residences
- 02
Luxury condominiums
Full-service and boutique buildings
- 03
Harbor and channel
Walk-to-water condominium living
- 04
New construction
Pre-completion opportunities
- 05
Second homes
Lock-and-leave lakeshore bases
- 06
Investment units
Rental-eligible buildings
Diligence
Asked before
you commit.
The purchase is the easy part. These are the questions Rennie works through with every penthouses buyer — before the offer, not after the surprise.
- 01
Is the association financially healthy — reserves, assessments, litigation?
- 02
What do the bylaws say about rentals, pets, boats and renovations?
- 03
Who owns the dock, the slip, the parking and the storage?
- 04
What are the true monthly costs once dues and taxes are counted?
- 05
How has the building handled maintenance decisions in the past?