If you already own a condo, consider taking an active role in your HOA. It’s easy to remain in an apartment-renter’s frame of mind while living in a condominium, especially if your HOA handles all maintenance for your complex. However, remember, that you have a substantial amount of money invested in your property. As a co-owner of the building, you should at least be aware of how the HOA operates and make sure that the building's finances are in order.

For more information on HOAs, see the Executive Council of Homeowners (ECHO), “a non-profit membership corporation dedicated to assisting California homeowners associations... on many fronts: finances, legal issues, insurance, maintenance, and management.” You can also reach them by phone at 408-297-3246.

In addition, you might want to pick up a copy of the The Condominium Bluebook, the “complete guide to the operations of condominiums, planned developments and other common interest developments in California.”