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As for the downsides of owning a condo, Ramsey cites: The lack of privacy due to shared common areas. Ongoing maintenance fees. Limited location options.
What makes a condo different from an apartment?
The biggest difference between a condo and an apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo can be similar in structure to an apartment usually a unit within a larger residential building but condos are owned instead of rented.
How is a condominium different than a single?
Owners of single-family homes purchase the home structure and the land it sits on, while condo owners own just the unit they live in, not the larger building or the land on which its built. Generally, with a condo, the surrounding exterior space is shared among the condo owners.
Why build a condominium?
Condos are generally less expensive than single-family houses in the same area. Condo owners pay an association fee that covers maintenance costs, amenities, and other resources. These fees are generally less than the costs to maintain a house.
What are the advantages of owning a condominium?
One of the top reasons why buying a condo is an attractive option is the access to amenities. Condo living includes access to amenities and facilities that may be costly or impractical for individual homeowners. These can include fitness centers, swimming pools, party rooms, and green spaces.
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Here at HHHunt, we define one-level living as having all your necessities on one floor, including the kitchen, living room, bedrooms and even laundry room.
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Jul 6, 2021 At the Sandcastles condos on Broadway, condo residents agreed to share the cost of a $5.5 million improvement to fix the brick facade. Condo
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