Pros and Cons of Condo Ownership

Condominium housing is typified by its multi-unit design and its ownership structure. A corporate entity, usually called the condominium corporation, represents the joint ownership of the individual unit owners. In other words, each owner of each townhouse or apartment privately owns his or her unit interior and collectively owns the common elements. The common elements might include the grounds and walkways around the complex, parking lots, recreation facilities, and so on.

Buying a condominium or townhouse requires some thought about your lifestyle and long-term plans. The following pros and cons will help you to think about whether or not a condo is for you.

Pros of Condominium Ownership

Cons of Condominium Ownership