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Old 07-05-2016, 01:33 PM
 
Location: NYC/Boston/Fairfield CT
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I have been very interested in looking at Newport's Ocean's Way (formerly called Newport Green) Condos. Does anyone have any information (good/bad) about these condos? I am interested in buying a vacation property in Newport and would like to hear your thoughts.
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Old 07-05-2016, 03:43 PM
 
Location: Beautiful Rhode Island
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Here's what I'd do if I were you.

Newport Tax assessor database is available online (Vision Appraisal).
Search for owners by address and call a few owners of the Ocean's Way condos to ask if they're happy there and what they think about the condo association.
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Old 07-06-2016, 09:39 AM
 
Location: NYC/Boston/Fairfield CT
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Thank you for the advice, Hollytree!

I hope a few owners are willing to talk with me.
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Old 07-06-2016, 11:59 AM
 
Location: Beautiful Rhode Island
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You're welcome. I would certainly respond if someone left me a message simply saying they were considering buying into the complex and would like some comments from existing owners. Let us know what you find out.

You're smart to investigate- condos can be either a reasonably good thing or they can be a disaster. Always ask for a copy of the condo docs/rules- especially concerning rentals- before even making an offer.

Single family ownership is generally safer but I can certainly understand why you'd want a condo given your circumstances.
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Old 07-06-2016, 12:27 PM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,036 times
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Quote:
Originally Posted by Hollytree View Post
You're welcome. I would certainly respond if someone left me a message simply saying they were considering buying into the complex and would like some comments from existing owners. Let us know what you find out.

You're smart to investigate- condos can be either a reasonably good thing or they can be a disaster. Always ask for a copy of the condo docs/rules- especially concerning rentals- before even making an offer.

Single family ownership is generally safer but I can certainly understand why you'd want a condo given your circumstances.
I am expecting more than a few owners to slam the phone on me, think it's some type of RE scam, however it's the best option to get some honest opinions.

I am definitely going to have a lawyer review the condo docs/rules to make sure that there isn't anything problematic, however you make another excellent.

I am generally wary of condos. However for a vacation type property, I would rather do a condo with all the exterior maintenance/issues dealt by the professional management team.

Lots of research to do!
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Old 10-05-2016, 08:29 AM
 
Location: NYC/Boston/Fairfield CT
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Just closed on the condo. I wish I could live there year round!

Newport is an amazing place. Glad to have a small foothold there.
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Old 10-05-2016, 08:39 AM
 
Location: Beautiful Rhode Island
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Congratulations!!!

Did you call any owners and did they talk to you? Do tell!
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Old 10-05-2016, 09:32 AM
 
Location: NYC/Boston/Fairfield CT
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Thank you so much, Hollytree!

I definitely spoke with a few owners. The general consensus was that Ocean's Way property management has done a really terrific job with respect to the condo management. They have maintained the buildings/common area/parking without adding too many costs.

I would like to thank you for the suggestion, as it really helped me feel comfortable with the decision to purchase the unit.
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Old 10-05-2016, 12:51 PM
 
Location: Beautiful Rhode Island
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Glad to help. You know, I looked those up and the price is sure right plus the fees cover a fair amount.

I have seen so many condos where the fees hardly cover any immediate expenses.
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Old 10-05-2016, 01:14 PM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,036 times
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Quote:
Originally Posted by Hollytree View Post
Glad to help. You know, I looked those up and the price is sure right plus the fees cover a fair amount.

I have seen so many condos where the fees hardly cover any immediate expenses.
Agreed on all accounts. Plus the location is excellent for me. About 1/2 mile from everything (downtown, water, mansions).

I like the fact that there is professional management on-site.
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