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With the current financial climate, Bermuda has a large pool of condominiums for sale at present. We all know the law of supply and demand and now may be the perfect opportunity for the homeowner who wishes to downsize from a large house to a more modest living arrangement, or the individual seeking to climb onto the first rung of the property ladder.
When purchasing a condo, you are not only buying a unit, but more often than not, you are gaining an interest in the company that owns and manages the common areas (which are the areas surrounding the units). Having an interest in a property with others comes with risks. However, you can mitigate these risks by conducting thorough due diligence before you purchase. Click the link below to read about a few considerations for potential condo buyers.
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Bermuda property: Issues to consider before purchasing a condo