Condominiums – Should You Consider Purchasing One

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        Condominiums – Should You Consider Purchasing One

Condominiums tend fall into the love them or hate them position for buyers. Here’s primer on
condominiums.

Condominiums

Condominiums are all about communal living, which can be good or bad depending upon your
personal views. This type of communal living doesn’t refer to the failed experiments of the
sixties wherein hippies packed into a structure and shared everything. Instead, the modern
condominium community is all about sharing common spaces as well as rules, rules and more
rules.

Condominiums come in all shapes and forms. Condos can be found in a single high rise
building in a downtown area or in an apartment complex type of layout in a planned
community. The structure isn’t the determining point. Instead, the issue is how the properties
are owned.

Unlike a stand alone home, the property lines on a condominium are the walls of the structure.
Essentially, you own everything inside the condominium as your individual property. Everything
outside the condominium is owned jointly with the people who own the other units. These
areas are known as common areas and are subject to group rule.

Every condominium has a homeowners association in one form or another. The association
has rules set out by the original developer regarding landscaping and so on. Members of the
community are then elected to the board of the association, whereupon the immediately
become a focal point of aggravation from individual owners and often wonder why they took
the thankless job.

The problem with the association and condos in general is the issue of uniformity. If you desire
to change the exterior of your condominium in some way, you must comply with the rules of
the association. This means you cannot paint your property a different color, do landscaping
and so on. For some people, this isn’t a problem, but others are frustrated they can’t express
themselves.

When deciding whether a condominium is a good option for your next purchase, you need to
carefully weigh the restrictions of a particular association. If you consider yourself an individual
and want to show it, a condominium is probably a very poor choice for you.




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