What are Special Assessments? (Consider when buying a home in Chicago) скачать в хорошем качестве

What are Special Assessments? (Consider when buying a home in Chicago)

A special assessment might sound fancy, but it's basically when a condo community needs money for a specific big project or to refill reserves after one. This could include anything from siding, to sealing, to a new roof or even garage maintenance in Chicago. We typically see these more often when it comes to bigger projects - and the larger the building the larger the special assessment could be. The top-notch condos are planning ahead for these projects years in advance. They put aside a bit extra each month—to tackle the big stuff in the next few years. Smaller condos, 6-20 units, tend to sail smoothly with manageable monthly fees ranging from $150 to $350 on average. They budget smart for their day-to-day needs, but when major fixes like roofs, masonry, or sealing come knocking, it's planning time! With smaller condo buildings, I compare it to owning a single-family home, where you invest in maintaining and boosting value. As long as your association stays on top of things and plans for upcoming projects, these can be much more manageable. Listen as we deep-dive into special assessments, what to watch out for and how these can effect buying and selling. CONNECT WITH CHICAGO HOME PARTNER: Amanda McMillan Chicago Home Partner Amanda@ChicagoHomePartner.com 773.537.1300 Samuel Ciochon Chicago Home Partner Samuel@ChicagoHomePartner.com 312.513.5337 ABOUT CHICAGO HOME PARTNER: Chicago Home Partner, a division of @properties real estate, was established in 2002 by Amanda McMillan. Amanda and her team of associates consistently rank in the top 1% (top 50) of sales for Chicago and the top agent team in the @properties Bucktown office. Amanda has been recognized by Crain’s Chicago, Forbes Magazine, and CNBC for her insights into the Chicago city market. Chicago Home Partner has been acknowledged as a leader in Chicago real estate for the past 20 years, with hundreds of five-star client reviews across Yelp!, Zillow, Google, and LinkedIn. Our aim is to offer personalized advice to home buyers, sellers, and investors founded on data - not headlines. Whether it's luxury services, first-time buyers/sellers, or investors, our experience and guidance are unmatched. Contact us for a free consultation to better understand your real estate goals and determine whether buying or selling in Chicago is the right decision for you. Visit our website for more information: https://www.chicagohomepartner.com/