SugarHouse Homes for Sale - Condos
and Townhomes
Condos and Townhomes ... The
Facts
Condominium &
Townhome - FAQ
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Condos and Townhomes in SugarHouse
Townhouse
for Sale in Sugarhouse - Salt Lake City, UT
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1140 E Parkway Ave. A1
Sugarhouse - Salt Lake City, UT 84106
Subdivision: Forest Green
Read this current
information on
condos or townhomes in
SugarHouse before you purchase.
| Q:
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How do townhomes and
condos compare to regular houses, (single-family homes), in
appreciation values?
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| A:
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At one time, especially in the Sugar House Utah area, townhomes, also
called "town homes, and townhouses", and condominiums just didn't
appreciate like single-family homes. That has changed considerably.
Though still not quite as strong in appreciation, condos and town
homes appreciate in value at just about the same rate.
Of course, it still all
depends on the actual townhome project. Just like any other piece of
real estate in Utah, some do better than others. Overall though,
condos and townhomes are a good real estate investment.
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|
Q:
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What are the
risks involved in buying a townhome?
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| A:
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Any real investment is
going to have a degree of risk involved. Markets fluctuate and not all
properties are equal.
If the condo or townhome
you're interested in is for you to dwell in, start with the basics? Do
you like the home? Is it in a good location for you? Can you
afford the property?
After you decide that
it could be for you, then look into the other basics that are
always important to research; comparable prices for comparable units,
the physical condition of the property, and of course, condition of
title. With the help of professionals you can easily have all those
danger covered especially when using a Realtor such as Tamra Rieper to
help you.
If the condo or
townhome is strictly for investment, then start the basics first;
comparable prices, physical condition, etc.
In any case, always, do
your homework before signing the dotted line. One thing to be sure you
understand is how much the HOA, (Homeowner Association), fees cost and
what they pay for.
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Q:
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Is it now
required for condos and townhouses to be
accessible for the disabled?
|
| A:
|
According to the 'Americans with
Disabilities Act' of 1990, any new multi-family construction such as
apartment buildings and condo sites are required to be made accessible
for the disabled.
Utah, like all states, has
protection against discrimination for people with disabilities. The
Federal Fair Housing Act enforces that public buildings already in
place and that aren't already accessible for the disabled to make
reasonable modifications.
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Q:
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Is smoking
banned in condominiums and townhomes?
|
| A:
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It certainly can be.
The board of directors
of the Homeowners Association have the legal right to ban smoking in
the common spaces that are indoor. These may include areas like
hallways and recreation rooms.
The only way outdoor
spaces can be restricted from smoking is if the local laws would back
it. Sugarhouse - Salt Lake City doesn't have any such laws enforce at
this time.
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Q:
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Can people do
whatever they want in a condominium project as long as they are on
their own private property?
|
| A:
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No. Things like nude sunbathing on your own balcony is not considered
a private property issue because there are common
property laws and regulations that can be enforced. Even though your
balcony may be your property the common property distance could
restrict your rights in the areas of what can be seen, heard and the
smells produced by things like barbeques.
Be sure to check the covenants, codes and restrictions (CC&R's).
They usually indicate what activities are involved and what is
considered common property.
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|
|
Q:
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How do I find
out about the laws, rules, and regulations of a condominium or
townhome project?
|
| A:
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You can find a copy of the
CC&R's, (Covenants, Codes, and Restrictions), from the county - Salt
Lake County for Sugar House, and to be sure that it is a current copy
request the most current version directly from the Homeowner
Association.
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|
Q:
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What do
Homeowners Association (HOA) fees cost?
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| A:
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Every townhouse and or
condominium is going to be different. Ask for a detailed list of what
the fees cover and the terms such as how often they can change and
their history of change; when was the last time there was an increase
and what is the trend.
Understand that your
lender also needs this information because it will effect how much you
can borrow against the property since you technically have another
monthly payment to consider. Banks usually understand the relationship
well and will likely handle your loan fairly.
Typical things that HOA
fees could include are, (but not limited to):
- Common Ground
Maintenance
- Roofs
- Yard and Landscaping
- Snow Removal
- Water
- Trash
- Natural Gas
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|
Q:
|
Is it smart to
buy one-bedroom
condominiums?
|
| A:
|
Strictly speaking about appreciation values in the Sugarhouse area of
Salt Lake City, they typically have not been as good an investment as
condos with two bedrooms or more.
Now if we were on the
Manhattan Island or San Francisco Bay Area, it would be different.
However, many experts
believe that purchasing real estate is always a smarter move than
renting, even one-bedroom units.
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