Is Condo Living Right for You?

 

If you're in the market to buy a home and are looking for increased living conveniences, less space to take care of, fewer maintenance requirements, or perhaps a typical single-unit home isn't in your price range, then you may want to consider a condominium.

 

First, what is a condominium? It is housing type whereby the owner purchases and owns a unit of housing in a multi-unit building. When you buy a condominium unit, you're buying all the space contained within the walls and a portion of the community’s common areas. The owners of a condominium community share financial responsibility and governance for common areas by forming an association to manage the building. The exterior of buildings, the landscaping, surrounding roads and driveways, and all other common areas are all owned by the condo association, a group made up of all unit owners.

 

How do you know if a condominium is right for you? Start thinking about the following as you consider a purchase:

 

 

While condo living isn’t for everyone, it is definitely a great choice for those seeking the maximum in convenience, location, amenities and value. As you weigh the pros and cons of condo living, think about your current lifestyle and household and how these may change over the next five years or so. Perhaps, condo living is worth taking a look at.