Insuring a Wellesley condominium
Question: Before the kids move back, [only half kidding!] my wife and I are thinking about selling our Wellesley home and buying a condominium in Wellesley. I understand that with a condominium, we will own our own unit outright and also have a common interest in other parts of the property. How does insurance cover this type of living arrangement?
Bill’s Answer: Buying a Wellesley condominium is always a good choice and most only have TWO bedrooms! Sorry, kids.
When purchasing a Wellesley condominium, you insurance coverage needs are twofold: a condominium association policy and a unit owner’s policy.
The condominium association policy is purchased by the association and cover the building, hallway, garage, in short all the areas in which you share common ownership. The unit owner’s policy is purchased directly by you to cover your personal property within your individual unit.
Your best protection in buying a condominium is your willingness to ask the right questions and receive satisfactory answers. Hire us as your Wellesley condominium buyer agents and Mark and I will get you the answers.
About Bill
ABOUT Bill
Bill FitzPatrick has been a resident of Wellesley for over fifty years. He graduated from St. Paul’s School and Wellesley High School. He earned a bachelor’s degree from UMass and a master’s degree from Boston College.
He has taught courses and written articles for the National Association of Realtors®. For many years, Bill was the principal writer and editor of two of the nation’s leading business newsletters, Investing in Real Estate and the Homeowner’s Advisory Letter. Bill is also the author of the online real estate real estate investing course Master Real Estate.
Bill is the founder of both Wellesley Real Estate and the non-profit American Success Institute http://www.Success.org.
Having bought, sold, and renovated many properties himself, Bill has negotiated hundreds of real estate transactions. Selecting Wellesley Real Estate, you will have the opportunity to deal personally with Bill. Friendly and relaxed, Bill listens. From discovery through closing and beyond, Bill’s integrity, patience, diligence and critical eye ensures that he will be your personal advocate throughout the process of finding or marketing your Wellesley home.
