1. It’s Leasehold (LH)
Often times it is hard to get a loan on a leasehold property if the lease is going to expire too soon. Call your loan officer; know your options.
2. The HOAs
The draw of oceanfront living is always high, but be sure to take note of the monthly sticker price that comes along with it.
3. There is an Assessment
Whether it’s time for a new roof or a seawall is caving in – special assessments happen. Be sure to ask your realtor if there have been, are, or are known future special assessments.
The whole complex will be charged their portion of these major maintenance upkeeps, and it may cost you greatly.
4. No Water Meter and/or no Fixtures
Both Upcountry and Northshore Maui have a closed waiting list for new water meters. See the following water meter sizing worksheet for what you can build with your current water meter.
Additional Available for Purchase
5. The Property is on Cesspool
You may incur the cost of replacing the cesspool with a septic tank when you go to pull the permits for the remodel and/or expansion of your home.