Risk is not much more than when the complex is brand new. Browse through your reserve fund study and financials. Are they putting things off and cash is tight or is there a healthy reserve and everything is being done on schedule.
Often a 30 year old building can be safer than a brand new one in terms of condo fees and maintenance. The building has proven itself for 30 years - I almost look at it as a company. It is a company with 30 years experience, 30 years of book keeping, etc. There shouldnt be any major surprises and the reserve fund should be healthy.
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