What is a Condo?
Condo ownership is popular in many urban and resort areas due to the scarcity of useable land. They tend to sell at prices below those of single family homes. But the cost of ownership (mortgage, utilities, condo fees, etc) can be equal or in some cases greater than those of other forms of housing.A condominium is not a type of housing, but simply a form of ownership. Various types of condominiums exist. There are apartments, townhouses, single family detached homes. In addition to you owning your own home, you also own all of the common elements that are "in common" with the other condo owners.
© Copyright 2006 by VaBeachHomeBuyer.com
By Kurt Petrich REALTOR® , GRI - (757)695-5878 cell
Apr 8, 2006, 20:02
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Get this special report on condos and what makes a condo. This mini-report covers what a condo is, what a condo association is, and condo fees, and what they are.