Thursday, July 7, 2022 / by Margie Wright
Condominiums, or condos as they are most often known as, are a popular choice for many first-time homebuyers, those looking to downsize, and those relocating to bigger cities. You still get the joy of being a homeowner and saying that you own a home while also getting some additional pros (and cons) with that property. There are key differences between condos and other property types that we'll cover in this blog, along with the pros and cons of buying and owning a condo, questions to ask when buying a condo, the costs associated with it, and what to look out for.
What is a condo?
A condominium is an individual housing unit within a multi-unit housing complex. The complex could contain as few as two units or more than a hundred. Each unit is individually owned with the owners are responsible for the maintenance and upkeep of their unit.
Now, one of the most important aspects of condo ownership is that owners are also typically responsible for paying HOA fees. The HOA fees ar. ...