Condos in Massachusetts : Townhomes - Condominiums

Whatever your reason for deciding to purchase a condominium, once the decision has been made it is important to know what it is you are buying. You are buying an undivided interest in common with other buyers in a portion of real property, as well as a separate interest in space in a residential building.

The only part that you own individually is your unit. The rest of the buildings and any recreational facilities are owned in common with the other buyers. Your purchase and sales agreement will define your ownership interest in the common areas, and subsequently establishes your voting power. It also determines the amount you will be assessed for maintenance and operation of the common areas and in some states the real estate tax assessed against your unit.

Owning real estate in common with others requires certain legal documents to govern your interests and the interests of the other owners. The three major documents are the master deed, the bylaws, and the budget.

Master Deed: The master deed describes the entire condo entity including each unit and all common areas. It specifies elements of ownership that govern how the condo will be operated. This document should be reviewed by an attorney to assure compliance with state regulations. The master deed should include provisions for professional management if possible.

ByLaws: The bylaws, which govern the day to day rules of the condominium, will usually dictate how and when the developer will turn over control if that hasn't occurred already. The bylaws will list responsibilities of the board officers, terms and method of election, use of common areas, how fees and assessments will be collected and establishing an operating budget.

Budget: This document determines the monthly association fees. It should list all the necessary expenses to maintain all common areas for one year. Banks will require proof of a master insurance policy and you should want to review this as well as finding out about reserves in place for replacement of the major components of the condominium such as roof, heating and parking. All the above documents should be reviewed by you prior to signing a purchase and sales agreement.

What You Need To Ask For

Ask for a list of Condominium attorneys. It is important that you use an attorney with experience in real estate as well as condominium law and local ordinances.

Ask for a recorded copy of the master deed and review it with your attorney.

Ask for a recorded copy of the By-Laws sometimes called a declaration of trust.

Ask for a recorded copy of the Rules and Regulations which declares the association's expectation of standards of behavior which impact upon other members of the condo association. Make a note of items which are of a concern to you.

Ask for the association's financial statements so you can examine them with your accountant. You should be looking at the budget, the income and expense statement and balance sheet which shows the assets and liabilities. Look at the amount of monies in the Capital Reserve Fund. It is very important to know if there's enough to pay for major improvements like a new roof or driveway.

Ask for copies of newsletters and minutes of recent board meetings. Talk to board members or the management association about issues that concern you.

Ask the Board of Directors or Management Firm about proposed future expenditures, long term contracts, uncorrected violations of laws or codes, nature of the contract with the management company, percentage of owners and renters, any legal, social or financial difficulties, who the neighbors are and any unresolved questions arising out of your home inspection of common areas.

You will find owning a condominium can be an excellent investment and a rewarding lifestyle if you have taken the time to examine all the issues outlined here.

Facts You should Know

Many new developments are underway for Active Adult Communities.
For resales you will have a large number of converted apartment complexes, 20 years old or older. There are some townhouse style areas but these are also older buildings.
There are some younger developments in Bellingham, Medway, Millis, and Grafton. Priced above $200,000.
New construction is going on but mostly for the Active Adults.
When you buy a condo, remember to include condo fees as part of the qualifying ratios
When you live closer to Boston, the prices increase dramatically. This is especially true in towns that offer public transportation.
Most older developments in metrowest offer only pool facilities. Some include heat in the condo fees.
There are a number of 55+ communities in the area including in metro Worcester like Berlin, Holden, Millbury and Auburn, Shrewsbury, Hopkinton. For instance there is a new development called Deerfield Estates in Hopkinton starting in the $430,000 range and Adams Farm in Shrewsbury. Contact me by emailing me

Search for homes

Come to Ashland , Framingham, Natick, Marlborough, Holliston, Hopkinton, Grafton, Southborough and all the surrounding towns to see what's available.Here is a selection of the condos in the area...........by no means complete.

OAK TERRACE ---1321 Worcester Rd in Framingham offers super CONDOS IN Tower building AND GARDEN STYLES. Location is great with easy access to shopping and transportation. Amenities include pool & laundry. Call for current listings in MLS.

Weybridge Lane in Hopkinton /Indian Brook townhouses with open floor plan, hardwood floor and sunken living room, 2 bedrooms and 1 1/2 baths offering LOTS of living space. Call for current listings in MLS.

Framingham 1550 Worcester Road offers high rise living with recreation rooms,pool and more. Wonderful location near Mass Pike, shopping and Rte 495 access.

The Charles in Framingham on Route 30 offers 3 stories, one level for each condo. One and two bedroom units are available.

Bishop Drive in Framingham is near Natick Line towards Hartford and Speen Street. This development is townhouse style, brick buildings and nice surroundings. This is an example of what most of the townhouse style developments are like in Framingham and other metrowest towns.

Smith House on Edgell Rd in Framingham is a one building complex offering one bedroom units. There are 3 floors, assigned parking and laundry. Northside location near shops is ideal for everyone. Recent units have sold in $78,00-$80,000 price range. They offer large master bedroom, bath and dressing room, living room, dining area, galley kitchen.