If you’re ready to stop renting and become a home owner, but not interested in all of the responsibilities that come with owning a single family house, a condo may be the right fit for your lifestyle. If you think condos are only located in major cities, think again! You’ll find condominiums in towns of all sizes. Did you know that condos can look like apartment buildings, attached one level homes, or even multi-level townhomes? This is because the term condominium actually refers to the type of ownership, not the style of the building. To be considered a condominium, home owners own the inside of their unit, but a home owner’s association owns the land and the exterior of the home. Living in a condo provides unique benefits to owners, which may include:
No exterior maintenance
Since you own only the interior of your condo, the exterior maintenance is not your responsibility. The home owner’s association is typically accountable for landscaping, mowing the lawn, snow removal, roof maintenance and basically anything else that is on the exterior of your condo.
Choosing a condo means you don’t have to sacrifice on location, as they are often located in or near the center of town. This gives you easy access to restaurants, shops, public transportation, parks, entertainment options and highways.
Unlike some apartment buildings, in many cases, condos feature modern, upscale furnishings and finishes like hardwood floors, granite countertops and updated fixtures. Not to mention, condo buildings are usually well taken care of because people own their homes, and there is not constant turnover that apartment buildings may experience.
All condominiums are different, but they usually include some amenities that are available to home owners. Common amenities are pools, fitness centers, recreation rooms, storage areas, outdoor space and on-site events. Some even feature spas, markets, coffee shops, child care, doggie day care and restaurants on-site.