A lot of people buy condos in the Hoboken area precisely because of the fact that there is an association that takes care of things like landscaping, exterior painting, etc. However, there are associations, and then there are associations. Some research is in order before you buy to see if the association there fits your needs and expectations.
Is the association where you are looking a highly organized one, with a board and officers, or is it loosely organized in a sort of catch-as-catch-can manner? How often do they meet, and are you expected to attend a certain percentage of the meetings? Some have a rotation of resident hosts for their meetings. Does yours?
Some associations have precisely written rules, so everyone knows the score. Others just sort of have what they used to call a “gentleman’s agreement” on boundaries of behavior and such. This can be confusing, and a breeding ground for resentments to build up. This includes the rules on things like pets and children. It’s best to know up front what’s expected.
You may want to do a little discreet reconnaissance to see if there is a “bully” among the residents who sort of takes over meetings and pushes an agenda. While you’re at it, you can see if the neighbors you will have are compatible with your lifestyle. If you are looking for peace and quiet, you may want one that caters to a different set of people than if you have a couple of children, or are very active socially.
Learn precisely what expenses are covered by the association, and what sort of hidden fees you may have to pay. If a catastrophe such as Hurricane Sandy should occur, how will the repairs be covered? Even if your particular area isn’t affected, will you still be expected to pay a share? (In any event, it’s probably a good idea to maintain a personal emergency fund,so you aren’t caught short.)
Maintenance and security are two other areas that should concern you. You should know whether the doors to the building are kept locked with key or card-swipe entry, and there is a call box to allow visitors to enter, or if anyone can just come in. Do maintenance personnel have access to your unit when you are away? These are important questions.
Let me know if I can help you get a handle on the association for your condo!
Eddie