Some Points to Consider in the Quest for a Condo

New arrivals to the Washington area learn very quickly that, even with this year's slower housing market, a modest condominium unit here can cost as much as two single-family houses back home.

If you are considering a condo, your purchase deserves consideration equal to the investment you intend to make, but more than money is at stake, especially if you intend to make a condo your primary residence.

In my tenure as a board member and as president of a local condominium association (George Mason Village in Arlington), I learned many things about what prospective owners should know and ask. Some are a matter of common sense to which the "Duh!" factor applies. Others may seem more tedious but may also spare you a world of headaches later.

· Location. Starting with the basics, a top-floor end unit offers the best in comfort and return on investment. These units are sought-after because the noise generated by neighbors is minimal. There's no one above you; there's no one to one side.

The drawback, of course, is that you will be carrying furniture, appliances and groceries up flights of stars in garden-style units. High-rises will likely have elevators, which have their own constraints.

Noise aside, there are significant advantages for many people in living on the ground floor, such as ease of entering and exiting and not needing to worry about downstairs neighbors complaining about children being children.

It would also be an advantage to have a firewall between you and your neighbors. This can be an interior brick wall (at least in older units) that helps slow the spread of fire to the rest of the building, your prospective unit included.

The quality of the roof is an important consideration. When was it last serviced? If the roof has recently been replaced and is under a 10-year warranty, great. If the roof has not been replaced in the past 10 to 15 years, when is the next scheduled replacement? Most condos have a replacement schedule for roofs, painting, heating and cooling upkeep and replacement, and other capital repairs.

A condo association that does not attend to these details leaves itself vulnerable to the need for special assessments.

· Assessments and fees. Typically, the portion of the monthly condo fees remaining after expenses is placed in reserve to cover those longer-term capital expenses. It is not uncommon, however, for rising monthly expenses to erode the amount of money contributed to reserves.