Condos offer conveniences that townhomes and single family homes do not. A condominium is property individually owned and also shared within the condo community. As a condo owner you will own the "inside" of your property (everything inside your door) but share common areas with your neighbors. So you own your kitchen, but not your roof or the hallway leading to your door. Your condo association, collects monthly fees from you to manage and maintain the common areas. That means the condo association will repair the roof if there is a leak. If you had a townhome or single family home, your leaky roof is your problem.
Want more perks? You don't have to mow the lawn or shovel the snow because that is what your condo association provides. You don't have to trim the trees outside your condo.
But there is a cost for this. Sometimes the cost is hefty. It is not unusual to pay upwards of $500 a month in condo fees. Condo fees can include water, electricity waste disposal, management and a host of other benefits. And condo fees may only cover your water bill. You will have to check with your condo association to determine exactly what you get with your fees. …show more content…
If you purchase a townhome or single family home, you need to have a stipulation in the contract or provision that states how you can terminate the contract. Condos are different. If you decide after 14 days that you don't like the rules, the contract is terminated. Why 15 days? The Rule book is often over 100 pages long, and this is not Grisham or Koontz or DeMille. It is a BOOK OF RULES. A book of tedious rules and conditions that NOBODY ever reads. Not in 15 days. Not ever. Rules against pets. Rules against satellite dishes. Rules about parking spaces. But those are the main rules. So if those rules don't bother you, you should be
Want more perks? You don't have to mow the lawn or shovel the snow because that is what your condo association provides. You don't have to trim the trees outside your condo.
But there is a cost for this. Sometimes the cost is hefty. It is not unusual to pay upwards of $500 a month in condo fees. Condo fees can include water, electricity waste disposal, management and a host of other benefits. And condo fees may only cover your water bill. You will have to check with your condo association to determine exactly what you get with your fees. …show more content…
If you purchase a townhome or single family home, you need to have a stipulation in the contract or provision that states how you can terminate the contract. Condos are different. If you decide after 14 days that you don't like the rules, the contract is terminated. Why 15 days? The Rule book is often over 100 pages long, and this is not Grisham or Koontz or DeMille. It is a BOOK OF RULES. A book of tedious rules and conditions that NOBODY ever reads. Not in 15 days. Not ever. Rules against pets. Rules against satellite dishes. Rules about parking spaces. But those are the main rules. So if those rules don't bother you, you should be