WHAT IS A CONDO?
What is a condo? If you ask most people to explain, they’ll tell you, “It’s like an apartment or townhouse, but you pay condo fee.” Or, "It's like a home with maintenance fee ." Both of these descriptions are mostly true, but there’s a lot more to the condominium meaning and the condos versus apartments debate, especially if you're trying to decide where you should live.
What is a condo?
A condo, which is short for “condominium,” is a private residence owned by an individual homeowner or family in a building or community with multiple units or townhouses. Although they are usually part of a larger high-rise building, "detached condominiums" also exist.
What all condos have in common is that they share common areas—such as yards, garages, tennis courts, swimming pools, rec rooms, or gyms—with other units that the condominium owners don't have to maintain themselves, making home upkeep that much easier.
The difference between an "apartment" complex and condominium is legal. There is no way to differentiate a condominium from an apartment simply by looking or visiting the building. What defines a condominium is the form of ownership. The same building developed as a condominium (and sold in individual units to different owners) could actually be built at another location as an apartment building (the developers would retain ownership and rent individual units to different tenants).
Should you consider condo ownership? Here's how to decide
You can see why condominiums would be ideal for people who want to own a piece of real estate but don’t want to worry about yardwork and maintenance. The condos versus apartments conundrum is often an easy choice for retirees, young adults without kids, or anyone who would like to own property in more densely populated areas where detached, single-family homes just cost way too much There's also more of a community to be found in a condo association compared with an apartment building.
And the advantage of buying a condominium over renting an apartment or townhouse? One, condos tend to be better built and maintained than rentals and they likely have an attractive amenity package. Plus, condo owners or unit owners will gain equity in their real estate over time—so why not invest your money in a home rather than throw it away on rent?
AramikApr 10th, 2020
Adam has been fantastic helping me find a house to buy I appreciated that he began the process by sitting down with me to really learn and understand what was important for my first home.
Instead of going through countless listings on my own as I had before I met Adam, he began feeding me only the listings that applied to me based on my needs.
I was also impressed by the number of hidden pocket listings of which he was aware helping to keep me out of the painful bidding wars I have encountered in the past.
While my previous experience with other realtors has led me to feel they are often only motivated to make a sale,Adam has personally gone far beyond this unfortunate norm. He truly cares first and foremost that I find a home that makes me happy and won't let me settle for anything less.
I would definitely recommend him to anyone looking to find their special home
Khaqan HApr 10th, 2020
We had a great experience selling our house with Adam . He was professional, knowledgeable, and responsive. He has a lot of experience and knowledge of the real estate market in our area. We were very pleased with his services from start to finish and sold our house quick and above asking!
RitishApr 10th, 2020
My wife and I have had the opportunity to work with Adam several over a Year on homes and commercial spaces, each time very successfully and our experiences have been nothing short of spectacular!
Mounir SrayeddinApr 10th, 2020
Both his personality and work skills are great
Mohammed AwadiApr 10th, 2020
Thank You Adam for your patience and time over these past 7 months in trying to find the right home in this crazy market !! This week we moved into our new home and it is so good to be settled. Thank you for arranging the Mortgage for us we couldn't do with you When I go to downsize( the next time) I will be sure to connect with you again.
Dr.Majed ZaitouniApr 10th, 2020
A great person and always has a way out for buying difficulties
Madhav NathApr 10th, 2020
Adam is a an experienced Real Estate agent who really makes sure that you get your dream house, a property which you can call home. I highly recommend Adam.