Portland's recent real estate boom has left home buyers with lots to choose from in the condo/townhouse market. From a classic NW Portland old bricker Apartment building conversion, to a sheik Pearl loft, to a Hawthorne live/work studio, there are options for everyone.
When looking for a condo to purchase a few thing to keep in mind are:
1)What are the HOA's?
Hoa's are the fees you pay to the condominium association usually on a monthly basis to cover common expenses. They vary from complex to complex and can include some or all of your utilities depending on how the building is set up.
2)Read the CCR's!
The CCR's (covenants, conditions and restrictions) include the bylaws for the condominium association. These are the rules all owners are expected to follow. It is especially important to know if there are any restrictions that may effect you(ie. pet restrictions or restrictions on whether you can rent the unit out to a tenant).
3) How is the financial health of the association?
Not all home owner associations are the same. The financial statements for the complex should be made available to you for review. It is important to know if the association has plenty of money in reserves for maintenance costs etc.
4) Do an inspection.
Even though you usually only own the interior of your condo space there still could be costly problems you will want to know about. A good inspector will also look at the rest of the building if possible.