THERE'S AN OLD ADAGE that claims a man's (or woman's) home is his (or her) castle. But when your home is a condo, your castle is directly attached to the palaces of many other royal families, er, people. So, it's not as easy to rule your roost the way you could on, say, a 10-acre spread. In close quarters, you may find that your neighbors don't like listening to your Metallica CDs any more than you enjoy hearing them in the midst of their romantic conquests.

In her book "The Condo Owner's Answer Book" ($17, Sphinx Publishing), real estate pro Beth A. Grimm tries to help such buyers sleep easier. She delves into issues ranging from noise control to neighborhoods. We chatted with her recently.

» EXPRESS: What should people consider before buying a condo in this dropping market?
» GRIMM: One of the biggest things people need to be wary of is if they're squeezing in on a mortgage, there are likely to be increases in assessments coming in many associations because of the mortgage crisis. It's forcing more people out of their homes, and other owners in associations with lots of foreclosures are going to have to pick up the difference in money lost in assessments. So, the biggest concern [for buyers] is making sure they have a little financial cushion.

» EXPRESS: What are the advantages to owning a condo?
» GRIMM: The advantages of a condo are great. It's lock-and-go living. You don't have to do outdoor maintenance. There are more people around, so, if you leave, normally it's a safer situation because there are people milling around and it doesn't look like there's a vacant home. There are more amenities than you can usually afford in a home.

» EXPRESS: So, what's the downside?
» GRIMM: You don't have complete control over your finances. It's possible that your money could be mismanaged by volunteers. You have the mortgage plus assessments to pay, and you're subject to more market variations on building costs because you're involved in more construction — it's not just on your home but on the homes of others sharing the costs.

» EXPRESS: What does a condo association do?
» GRIMM: Its role is to collect your money and spend it to manage the property. Some boards do it a lot better than others. They have a difficult role, because they're charged with running a business oftentimes without specific training.

» EXPRESS: What's covered by the condo fees, and what do I have to cover myself?
» GRIMM: Usually the owner is responsible for the interior of the unit, which would mean flooring, wall coverings, their furniture and personal belongings. It could be just the air space, and it could be that the association does everything else. But it's possible that the owner could be responsible for window replacement. Generally, the association is responsible for the maintenance.

» EXPRESS: How is the process of buying a condo different from buying a single-family home?
» GRIMM: You have to qualify not only for a mortgage, but you also have to qualify for assessments as well. Getting inspections done is sometimes more difficult because inspectors maybe can't get access to common areas; they can only get access to your unit. Since you're sharing your money and resources with other people, there are financial documents you'll want to review, but they're complicated enough that the average person might have trouble figuring out what kind of financial shape the association is in.

» EXPRESS: How much should you plan on paying in assessments?
» GRIMM: It depends on what amenities are available. If it's just open space and street, it's not the same as a community that has pools and tennis courts and things like that. It's a danger sign if you go into an association, and it brags that it hasn't raised assessments in 10 years. That usually means there has been some deferred maintenance.

» EXPRESS: Is taking an active role in the homeowners' association in your best interest?
» GRIMM: It is, because then you know exactly what is going on, and you have a say in the decisions. I always think it's a good idea. … But there is some risk in serving on the board because you can be sued. If you don't like what your board is doing and think it's violating the law or something like that, you may want to resign. Boards acting badly are lawsuits waiting to happen.

» EXPRESS: Is there a way to find out — before buying — whether the walls of your condo are thick enough to drown out your guitar-playing neighbor or the barking dog upstairs?
» GRIMM: Go to the planning department, and pull the original building construction plans. If it's a new development, the developer should be willing to let you look at them. You can ask to have some kind of noise test conducted. You can have an acoustic specialist come in and do a test. …And try to get in some situation where you're in the unit when there are people in the unit next door.

» EXPRESS: The condo next to yours is rented out, and the current tenants could win the award for world's worst neighbors. What can you do about it?
» GRIMM: If your neighbors are doing anything in violation [of the community's rules and regulations], contact the homeowners' association and get it involved. You can also find out the owner of the unit by calling your local assessor's office. … But the board has more teeth behind it, and if the board really analyses things and finds there are violations of the governing documents going on, it should take some responsibility and do something.

» EXPRESS: If you'd like to buy a condo in a building still under construction, or where construction hasn't even started yet, is there anything extra you need to consider or look out for?
» GRIMM: Views are something to watch out for. In a new development, there isn't a lot of landscaping grown to its full potential. If you see some trees planted, you might want to know what kind of trees they are and what effect they're going to have on your views. Another fairly common issue is that developers want to keep assessments low so they can get people in. … After the building is all sold-out, the owners find out that the budget is inadequate to maintain the place, and so assessments tend to go up. … Sometimes in a new development you want to be really careful because in an economy like now, you may be excited and buy and be one of the first ones in a development, and then the developer goes belly-up because it can't complete the project. And that can create serious problems. You need to understand the financial capability of the developer.

» EXPRESS: So, should I buy a brand-new condo? Or are older ones of conversions [apartments made into condos] better?
» GRIMM: If you buy a brand-new condo, try and get out when it's between five to 10 years old, unless you're planning on staying for the duration or you're willing to risk the potential for construction defect litigation somewhere in the sixth, seventh, eighth or ninth year. That's usually when problems start to manifest. Start watching, and really paying close attention. If you're thinking about moving on, it's a good idea to do that in the fifth or sixth year.

Conversions are a huge risk, I think. There are a lot of requirements about bringing buildings up to a certain level, but you can't take a really old building and make it a new building. A lot of times the work done doesn't address all of the problems of a building built for apartments.

In an older development, I'd ask when was the last time they did a major renovation? If one hasn't been done, it's probably in the mix.

» EXPRESS: Is a condo a good investment now?
» GRIMM: I think condos are as good an investment as anything else. I think it's a really good investment for people who want the lock-and-go capability. But I think you have to study the real estate market to understand what the investment prospects are. If you're a first-time buyer and you can't qualify for a single-family home but you can find a condo development you can afford, it makes sense, if you check it out and are careful about what you buy, to become a property owner that way.

Written by Beth Luberecki
Photos by Katherine Frey/The Washington Post

Posted by Express at 5:23 PM on March 27, 2008
Tagged in Condo Living , Lifestyles , Maryland , Real Estate , The District , Top Stories , Virginia