Down sides of Condo living ? Your Real Estate Resource

Written By: Dalia - Feb? 22?12

Buying a house isn?t a joke, there are several points that you have to before buying a property for example the demographics of the area where you desire to transfer to, a brief history of the place, taxes, and more. But most significantly, if you happen to be a first time buyer searching for a typical dwelling, choosing a type of house is one thing worth pondering too. If opting between buying a single-detached home or getting a condo?s an issue for you, then below are a few ideas to help you narrow down your choices.

Naturally, buying a single-detached house is much better than owning a condominium. Tenancy or possession of land by title makes single-detached properties more vital. Okay let?s face the fact that while single-detached property owners enjoy the peace and serenity of their surrounding, and in some cases condo owners will likely need to share noises with their neighbors. However, if you are somebody who can afford to pay high-priced additional fees to maintain your unit and you seem to enjoy the benefits of living a cozy life along with the fancy environment and amenities that a condo living can provide, then perhaps it?s the best to fit your life-style.

Then again listed below are some of the predictable problems with buying a condo that you ought to remember:

• Owning a condo means you can only share the land beneath the building.
• You own the area between the walls of your unit but share the same wall and ownership with other owners.
• Shared walls may mean you?ll be sharing noises too
• Sharing ownership means sharing accountabilities. As part of the homeowner?s association you have to take part in making decisions regarding the common areas of the building.
• You are required to pay monthly fees for maintenance and repair of common areas; Added charges for larger repair jobs; and may be even ask to pay for amenities like swimming pool, that you may not use.
• Condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include limitations on noise levels, pet ownership, renovations, and even what kind of curtains you can put in your windows.
• Renovations to your unit or rent your unit out may requires an approval from the condo association.
• In case you want to sell your home later on, please be reminded that condominiums are usually more vulnerable to trends in the housing market than single-family detached homes. What?s worse is when the market takes a downturn, condos are usually the first to suffer and the last to recover.

There?s really nothing wrong with buying any type of home between normal properties and condos. What more important is your financial capability to keep your lifestyle and how you would like to enhance your life. In the long run it is you who?ll have to make a decision for your own enjoyment and fulfillment. The choice is still up to you.

Visit utahhomesforsale.com to find Herriman Utah Cottages or view listings of 2-story Conventional Homes for sale Logan Utah to find more listings.

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Source: http://hannityhomes.com/2012/02/22/down-sides-of-condo-living/

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