The Tribune

By MIKE LIGHTBOURN WHEN Doug (not real name) invested in a seaside condo in the Bahamas, he couldn't have been happier. The attractive home was near a beautiful beach and offered stunning sea views. He and his family enjoyed the lifestyle and, over time, his investment appreciated in value. One day, years later, the land was cleared for another condo block. The residents were heartbroken. Not only had the green space been taken away, they feared the value of the property would depreciate because of overcrowding. On the other hand, the developer always intended to add another condo block to the property he himself invested in. He generously allowed the residents to use the green space until he was ready to develop further. The land was never delineated as common property. Before you commit to purchasing a condo, townhouse or apartment, draw up a list of questions pertaining to issues such as future development and maintenance fees. Ask your BREA agent and lawyer for answers. Ask your lawyer to pay special attention to the fine print and to look carefully at the site plan to pinpoint any possible future building sites. Mike Lightbourn is president of Coldwell Banker Lightbourn Realty