Living in a Condominium

I live in a condominium seems to be a good choice for people who want to be in the heart of the city. For many it is better than living in an apartment. Condominium living has so many great things to offer than an apartment. But let me tell you now, before you finally make the purchase, who lives in the building is different than living in single-family home unit. This is mainly due to their uniqueness.

• The Condominiums are located in cities and when you live in a condominium, you have a space between the walls of your unit and share ownership in the common areas with other owners, but do not own the land where the building is constructed. You just share an interest in it with your neighbors.

• Most people who live in their own building premises. Thus, you can have long-term neighbors and build relationships with them, but you also have shared walls and common areas with them. If you are a very social person, it could become a problem for you.

• The Condominiums offer better security than apartments. Condominium buildings often have security features, be they buzzers or a guard. In addition, you can easily find a place to leave for a trip or vacation knowing that you have neighbors that will be introduced. What you might find a problem with amnesties is sharing its neighbors, and whenever a meeting of the Association, as part of the community have to show up, reach, and coordinate.

• Living in a condominium can be cheaper than living in an apartment, but with the maintenance and repair of common areas, your monthly salary could go up. You'll be charged a fee pool, but you can use it.

• More people, especially first time buyers prefer condominiums because it is cheaper than those of residential single family homes. But in the real estate market, when the drop, condominiums are the last to recover. So, it will be difficult to sell a condominium after severe climate.

• The apartments have access to a gym, pool and other common areas that would not be able to afford on their own. But the problem is, this is what we call COVENANTS conditions and restrictions (CC & R), a set of rules that prohibit owners of premises to bring pets or to restore files and many others.

I hope you find this article helpful in deciding whether to buy a condominium or go to a single family home.