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My wife and I, along with our 3 year old, are looking to purchase a condominium within the next 90 days. School district is the biggest priority for us. I prefer Nassau only because we have family out of state who we visit frequently and I also commute to the city on various occasions throughout the month. I believe I narrowed it down to Hidden Ridge (syosset), Woodlands (woodbury- syosset SD), and Northgate (Melville - Half Hollow Hills East SD). All units are in the $450k range give or take which is where I want to be price wise. We are first time home buyers and are not originally from Long Island (though I have lived here for many years). Any help, advice or suggestions would be greatly appreciated.
I'm a condo shopper, too, although not in the same price range or areas. Here's what I've learned:
1. Condos with electric heat, such as those in Hidden Ridge, are extremely hard to sell on Long Island when we pay the highest electric rates in the country. Gas is best, and I understand that even in a power outage, you can still use a gas fireplace or stove. Also, some complexes allow natural gas generators.
2. Some places have web sites with governing documents. I see Hidden Ridge has this. You can begin to learn about the rules and regulations.
3. Ask the real estate agent for recent financials and bylaws. Most agents are incredibly lax and even resistant about this, but you need these documents as part of your buying decision. You should definitely have them before signing the contract. Your lawyer will usually require this.
4. Google the streets in a chosen complex. It may sound like overkill, but I discovered that a resident had been arrested in one place for illegal possession of a weapon and "menacing." It's nice to know who your neighbors might be. I was also able to use tax rolls and Google to gain a rough profile of my neighbors. I learned that one complex would be well-suited for my wife and me in terms of the approximate ages and professions of the current residents.
5. After you finish a showing in a complex, don't be in a hurry to leave with the agent. Stay awhile and walk or drive around to see if you can get a flavor for the place. You might even find some residents who are willing to talk to you.
6. Do not assume that everything on the exterior will be taken care of by the HOA. A lot of the units we've looked at require the HOA to repair/replace roofing, repaint siding and possibly decks, and do landscaping and snow plowing. However, if a piece of siding falls off, it's your responsibility. If you want to repaint your deck and it's not part of the HOA's repainting cycle, you have to paint it yourself. If your roof leaks, the HOA will repair the outside but you are responsible for any inside damage. And so it goes. We've learned that the LI HOAs assume far less responsibility for maintenance than complexes in other parts of the country.
7. Confirm the school district and town in which you will reside. Do not take an agent's word for it. For example, there are a number of condos listed in Manhasset and people think that they are then entitled to a coveted Manhasset train sticker. But the condo is really in the Herricks school district, so the unit is not eligible for the sticker. It's very misleading.
8. Do not believe the agent information on property taxes or HOAs. I discovered one unit had taxes $2,000 a year higher than advertised and many agents don't update the HOA fees in the listing.
Thank you so much for the info you provided. It is very helpful. That is why I love this site. Being that you are also shopping for condos, are there any condo complexes you know of that I should be considering other than those I previously listed?
I would also suggest 1) you get information about # of units in default of HOA obligations. In a condo, when your neighbor doesn't pay their dues, the burden could fall to the paying homeowners to make up the budget shortfall. 2) ask the age of the roof, the exterior, basically anything the condo is responsible for. Also ask when the last special assessment was and how much it was. The last thing you want is to get into a new condo and then get hit with a special assessment for a new roof or something like that.
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