Buying a beach condominium in California can be a great way to enjoy he best of both worlds- the comforts of home along with the comforts of the ocean. Whether you want to live in your condo year round or rent it out for portions of the year, it’s a good investment that you’ll enjoy. There are plenty of things that you must know about buying a condo in California. Condos come with some confusion. There are rules and regulations that must be followed. Before you dive into California condo ownership, read the tips below. 

Fees 

When you buy a condo, you’ll be responsible for paying your mortgage but you’ll also need to pay certain fees associated with the condominium complex. These are called Homeowner’s Association Fees also known as HOA fees. The costs vary depending upon the services provided and the types of maintenance required around the property. Many condo communities include pools, tennis courts, community centers, fitness centers, playgrounds, and more. The more amenities a condo includes, the higher the price your HOA fess will be. 

As a condo owner, you are also personally responsible for taxes, home insurance, and any additional maintenance costs that aren’t covered by the HOA fees. It’s important that you look deeply into what the HOA fees do and do not cover. 

Know What Insurance Covers

Between your own home insurance and the insurance that covers the Homeowner’s Association, you’ll want to be sure that you have adequate coverage. In California, two important types of coverage include that of water damage and earthquake damage. In the unfortunate event that an earthquake rips through your condominium complex, you want to know that you won’t be responsible for the costs that will be incurred to rebuild. 

You should also understand what your own policy covers and if there are any gaps in coverage that you need to account for. 

Know The Rules Of The HOA Association

Before you buy in any type of a California beach condo, you’ll want to review the rules that the complex is governed by. Do they allow you to plant outside? What are their views on decorations? Will you be able to bring your beloved pet to move in with you? If you’re planning on renting out the condo, you may also want to review any policies that could affect that as well. Homeowner’s associations can have some stringent rules, and you want to be sure these regulations fit your lifestyle. You also want to know the rules to be able to deal with rentals should you choose to rent the property out for part of the year.