Defining Condos

For some people, condos may be a concept of confusion. Condominiums are represented as a step between home ownership and apartment dwelling. Condos are very popular nowadays especially for those working people and small family.  Compared to home ownership and apartments, they come up with good or bad things. Condos are much just look like an apartment complex.  They considered as multi-units which can be either one floor or townhouses.  Condos and apartments can be differ in terms of ownership.  The condo owner can get a title for the unit. There is also difference between ownership of home and condo is that a condo can be owned not the land. The total group of condo owners can only own the real condo and they share with partial titles and common areas such as roofs, hallways and swimming pools.

 

Moreover, condominiums are being managed by the owner’s association which provides rules and regulations among owners. This association ruled many things like the association oblige the owners to pay the maintenance fee for maintaining the common areas. Another thing that the association do’s and don’ts is the owner can paint whatever theme he or she likes inside the unit but he/she forbids  doing it outside.  Usually the association provides a meeting and gives everyone to speak themselves before implementing the rules so to be fair so to speak but the final rulings will be implemented by the association.

 

Condos actually provide a simple way for individuals own dwelling, but without giving hassles in maintaining the outside area. So you must know the pros and cons before signing the contract of the owner.  Making sure that you know the place and you need to take a serious review in making a decision. You can ask from people who live there so you can have idea how it’s going on.  Background check is a must so you will not make fail decision in the future.

LakeVille loves to learn about real estate; mainly new condos offered by LakeVille  Company. Check out other related information on latest condos. Read the Prospect Condos disclosure here.