Q. What are the responsibilities and expenses to consider before purchasing a condominium?

A. The condominium market is booming, and sales have increased 5.3 percent statewide between the first quarter of 2000 and the first quarter of this year. Some 7,018 condominiums were sold statewide from January through March of this year. For the month of April, condominium sales increased 7.1 percent from a year ago to 3,611, and Chicago led the state with 1,325 condos sold.

Despite the convenience and lifestyle that come with a condominium purchase, there are expenses and responsibilities to consider. If you choose a condominium as your first home, it's important to balance the benefits against potential liabilities and restrictions.

Condos typically appeal to individuals wishing to enter the housing market and couples whose children have left home—the “empty-nesters.” They also are popular as second homes at resorts, in the mountains, the woods or at the seashore. Whether it's an apartment in a high-rise or low rise, or a town house development, any condominium purchase entails special considerations.

A condominium includes a residential unit and shared common facilities, such as hallways, laundry rooms, storage areas, bicycle rooms, property, roads, parking lots, paths, walkways, a roofdeck, a clubhouse, swimming pool or tennis courts.

In addition to the mortgage payment, there is generally a monthly condominium fee to cover maintenance costs for these areas. Prospective buyers should find out if the condo fee includes utilities, and if not, how high the utilities run on a monthly basis. Determine whether the building is cable-ready and has adequate security.

Check the association's bylaws and the master deed for restrictions on how you can use the property before you buy. The bylaws are written to serve the interests of all owners and the community. Be sure you understand how the condominium documents may affect your lifestyle and your ability to resell the unit in the future.

Make note of the condition of the surrounding property. If it looks as if the roof next door might need to be replaced, keep in mind that all owners share in replacement costs for common elements. For this reason, it's important to look at the finances of the condominium. For example, if there is no budget to cover roof replacements, you may be affected by a special assessment placed on all unit owners to cover the costs for a new roof.

A well-managed condominium association budgets for major repairs and has reserves for emergency replacements. When reviewing the financial status of the association, check to see if the maintenance fees are current for the unit you are buying. Otherwise, unpaid fees may become your responsibility.

Some condominium developments lease their common facilities instead of owning them. If this is the case, future increases in lease payments could affect your monthly condominium fee. Make a point of visiting the complex on your own and ask residents how they feel about their home, the neighborhood, the condominium fee and the responsiveness of the condominium association to meeting their individual needs.

The majority of condominium associations are well run, but you should review all of the condo documents before you sign a purchase agreement. If you decide to buy, you may wish to become involved in the activities of the association by attending meetings or by becoming a member of the board of directors to better protect your interests.