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If you like the condo, come back for the second visit during dinner time. Listen for neighbors' noises and also if you can smell cooking scents from other units. Ask people who live there if they can hear neighbors' plumbing, TV's, etc. What the parking situation for owners and guests? Look at the maintenance around the property and if people are picking up after their dogs.
Are condos anywhere now a good thing to get involved with? It seems to me that I keep reading of how many new condo developments get turned into apartments and not just how slow condos in general sell, but how prices have really plummeted in that sector.
If you're really set on purchasing a condo make absolutely sure you know the state of that market because when it comes time to sell you might find yourself having to make some tough decisions down the road if you buy in the wrong area.
It is important to use your own eyes and really look, even before you hire inspectors. If you walk into a home and there is the smell of mold, or the roof is falling in I personally would walk away no matter what anyone says. A poorly maintained home will be expensive and who knows how many more surprises are waiting to be discovered. Take a friend with you who has purchased a home so you can stay well grounded.
Always use serveral professionals for their own expertise and actively working in their field such as electrical, roofers.... It is important that they have no interest in the outcome other than providing an objective report regarding the condition of the property.
If that's a condo - look at the neighbors upstairs FIRST, and then look at the neighbors downstairs. And then, if you are still there, look at everything else. )))
It can be overwhelming looking at a property. Forget the decor and paint colors. Drives me nuts when those idiots on HGTV get caught up in the fact a bedroom is painted purple, like they never heard of paint before.
Don't assume a property will have basic things like most properties. I bought a house without a linen closet and when we moved in, then it dawned on me! With an arm full of sheets looking for it! Living without a linen closet really sucked. Every house I owned before that had one and it didn't even occur to me the house I was buying did not. So don't assume certain things are in the property because you have seen it before a thousands times elsewhere.
I do a ton of drive by's before putting in a bid on a property. I have even gotten up in the middle of the night to drive by a property just to make sure nothing goes on after hours.
So I'm going to start looking at condos in the next few months. Are there any things I should be specifically looking at when I walk through a home? Should I be looking in cabinets, inspecting lights to make sure they work, checking for "hidden" damages, etc? I always feel like homes are staged to hide the less desirable portions of the home, so I'm not sure how meticulous to be in my inspection.
Overall workmanship. If you see things done half-assed they'll be twice as bad in places you can't readily view. Also look into the health of the condo association, their fees, assessments and upkeep, and how many rentals, foreclosures, or vacancies there are in the area. Also be on the lookout for discolorations in walls and ceilings. That's a sign of water damage.
I'd be leery of condos but I'll readily admit that I have a pretty good sized bias against apartment style living. Even in our relatively healthy real estate market, condos have taken a bullet as far as value is concerned, so from that view point, beware. I will echo the sentiments of the others that have said to check on the association's financial health first and foremost, followed immediately thereafter by the articles of incorporation, bylaws, and HOA rules. Too many people buy into places that they didn't adequately investigate and find that they can't keep certain types or numbers of pets, that they can't rent out their extra rooms, that the RV or boat isn't welcome or other such rules that should have been known in advance but ends up blindsiding new owners, creating needless conflict and poor relationships with HOA enforcement personnel. If you can't live with a rule, then move on for everyone's sake.
Look at the maintenance of the common areas such as foundation, joint systems, roof, siding, parking areas, landscaping. The last thing that you want to do is buy into a place with an assessment (or steeply escalating HOA fees) looming in your future because such things were not adequately maintained or appropriately budgeted for by the board, past and present. Get copies of the last year's HOA meeting minutes and board minutes to see what is on their minds. Often very informative.
Check out the coverage of the HOA's casualty insurance, because even if the structure is covered, it might not be enough to protect your investment. We had a fairly recent horror story around here where a plumber's assistant essentially set a multi-family building afire and they are still haggling over the details 4 years later. Meanwhile the individual owners in that building are paying on homes they can't live in, plus renting another place to live while the insurance companies and agents are balking, picking at loop holes and suing each other.
Finally look at the place itself. Does it appeal to you? Can you live with it with your lifestyle now, not what you imagine that it might be? Does it look well maintained? Are you planning to stay for more than a few years? Can it accommodate changes that you plan to make in the future? Finally, I agree with the home inspection for every purchase. Talk to neighbors if you find that you are interested enough to submit a bid. Bring over a cake or a box of homemade cookies, tell them that you are planning to buy and I promise that you will get the inside scoop from a talkative one.
Look at the HVAC unit. Even condos will have their own unit depending on the type of building. That could end up being your biggest expense if you need a new one. An inspector should check out the hvac unit during your home inspection, but I'd also have a hvac person specifically check it out if the inspector says it isn't working properly.
Check for "smells" coming from the adjoining units. Nothing is worse than third-world neighbors who think it is ok to cure meat in their closet.
Be really nosey and look at your friend's homes and write a list of what you like about their homes and yours. Granted you won't get everything you want but with a written list, you might not over look the linen closet (what a bear!). I like to watch Holmes on Homes as he really exposes what inspectors miss when they are unqualified or are partenered with others who have an interest in the outcome of a sale. Always discuss your thoughts with a disinterested third party to avoid undue pressure to buy. Good bones at a good price.
It's not like buying a used car, where you have to rely on your own knowledge to inspect before purchase. Most of the underlying issues in a house are not accessible to the average buyer. This is what an inspector is for.
Instead, while you're viewing houses, look at the house itself. Is it in a good location, what are the traffic patterns, does it feel safe? Does it have a good layout, are the rooms the right size, does it make sense for your lifestyle? Does it feel like home to you? After you find something you like, then look closer. Has it been maintained well, are the floors too creaky, water stains on ceilings/walls?
Any offer you make is subject to an inspection. If anything comes up in the inspection that you don't like, you can either ask the seller to fix it, fix it yourself after you buy it, or walk away.
But the home shopping is the most fun part of the process. Enjoy it now, until you find something you like. Then, it's all business.
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Living without a linen closet really sucked. Every house I owned before that had one and it didn't even occur to me the house I was buying did not. So don't assume certain things are in the property because you have seen it before a thousands times elsewhere. 
