Ten questions to ask before you buy a condo in Towson
Towson has elevator buildings downtown and along York Road and Charles Street, older garden-style complexes, and townhouse-style condos tucked into neighborhoods. The unit gets you in the door. These ten questions tell you whether the building deserves your money.
Updated November 2026
About the money
- What does the monthly fee pay for? Some Towson buildings fold heat, water or cable into the fee; others cover only the common areas. Add the fee to your mortgage, Baltimore County property tax ($1.10 per $100 of assessed value for fiscal 2026), insurance and utilities to get your true monthly number.
- How healthy is the reserve fund? Ask when the roof, elevators, boilers and parking lot were last replaced and whether the reserves can cover the next round. A recent reserve study is a good sign.
- Are any special assessments planned or underway? Find out the amount, the schedule, and whether the seller will pay off their share at settlement.
- Has the fee jumped recently, and why? Insurance and repair costs drive most increases. A pattern of big jumps tells you something.
About the rules
- Can I rent the unit out later? Buildings near Towson University often limit rentals. If you might move in a few years, this question matters more than the countertops.
- What are the pet, parking and storage rules? Is the parking space deeded, assigned or first-come? Is storage included?
- Will my loan work here? FHA and VA loans only work in buildings that meet those programs’ standards, and conventional lenders review the building too. I check this before you fall for a unit.
About the building and the paperwork
- What shape are the common areas in? Hallways, lobby, garage, roof access and mechanical rooms say a lot about how a building is run.
- Is the association involved in any lawsuits? Lenders ask, and so should you. It’s listed in the resale package.
- When will I get the resale package? Maryland’s Condominium Act requires the seller to provide one, and your window to cancel runs from when you receive it. Get it early and read it the same week.
Once you’re satisfied, the rest looks like any purchase: an inspection of the unit, your appraisal and loan approval, an HO-6 insurance policy for the interior, and settlement at a title company, commonly 30 to 45 days after the contract. Baltimore County’s 1.5% transfer tax and $2.50 per $500 recordation tax plus the state’s 0.5% transfer tax are usually split with the seller.
I’ve run Property Management of Baltimore since 2014, so I read association budgets the way an owner does. Send me the buildings you’re considering and I’ll tell you plainly which numbers look healthy. More reading: first-time buyers in Towson and Towson on my main site.
Questions people ask
Are Towson condos a good buy?
They can be, if the building is well run. Compare total monthly cost, check reserve funding and planned assessments, and make sure the rental rules and loan eligibility fit your plans before you judge the unit.
Can I rent out a condo near Towson University?
Maybe. Many buildings limit rentals, and limits near campus are common. Read the rules in the condo documents before you buy if renting later is part of your plan.
How do I know if a Towson condo building is FHA approved?
Check the building’s status with your lender, who can confirm FHA, VA or conventional eligibility. I check this before we write an offer.
What's included in a Maryland condo resale package?
Generally the declaration, bylaws, rules, budget, reserve information, the unit’s fee, any special assessments, insurance details and pending litigation. Maryland law gives buyers a limited window to cancel after receiving it.
What property tax will I pay on a Towson condo?
Baltimore County taxes each condo unit at $1.10 per $100 of assessed value for fiscal 2026, separate from the condo fee.
About Mike Fielder
Mike Fielder is a Baltimore Realtor and Sales Director of The Key Home Team at Cummings & Co. Realtors. Licensed since June 2016, he focuses on North Baltimore (Lake Evesham, Lake Walker, Cedarcroft, Hampden and Remington) and the Towson area. He also serves as Vice President of the Lake Evesham Community Association.
Over his career, Mike has sold 190 homes worth more than $56 million. He’s backed by The Key Home Team, which has sold more than $375 million in real estate and closes about $30 million a year.
Mike founded Property Management of Baltimore in 2014, two years before getting his license, and still runs it. Managing rentals taught him what repairs really cost, which updates buyers pay for, and how to keep a deal moving when something breaks. Sellers get that judgment when deciding what to fix before listing. Buyers get it when they’re reading an inspection report.
A Towson University graduate, Mike keeps his approach simple: price from real recent sales, spend money only where it pays back, and compare offers by what the client actually keeps.
More from Mike: Towson on mikesellsbaltimore.com · Buying with Mike · Full bio
Shopping for a condo in Towson?
Send me the buildings on your list. I’ll pull recent sales, check loan eligibility and tell you which questions to push on.
The Key Home Team of Cummings & Co. Realtors
Cell: 410-905-6678
Email: mike@mykeyhometeam.com
Office: 410-823-0033
108 W Timonium Rd, Timonium, MD 21093
Website: mikesellsbaltimore.com