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Condominiums often have a community focus with a club house, pool, golf course and/or similar amenity. Some townhouse communities offer the same types of amenities as condos, but others are more private. Homeowners Association Fees
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Condominium sales are treated just like house sales; the buyer secures a mortgage and on the day of purchase signs an actual deed for the dwelling. That deed does not grant the same level of ownership that a deed to a house would provide. All the buyer really owns is the air space within the unit.
Tenants at Manhattan House in New York City worry about building's conversion to condominium apartments; many elderly tenants fear idea of.
Condo or Townhouse vs. House Situated on their own lots, detached homes often provide owners with the most freedom when it comes to improving the structures or the land that comes with them.
Condo vs Townhouse: What’s the difference and which should you choose? When it comes to buying property, townhouses and condos throw a unique curveball to the equation and the definitions of each might seem to blur on your first look. For example, what is the difference between a condo and an apartment?
Why a condo is a good idea-maybe better than a house Condos are less expensive than houses. According to the National Association of Realtors (NAR), the median existing house price was $241,700, as of January, 2018. The NAR also reported the median existing condo price was $231,600, also as of January, 2018. That’s a difference of only.
condominium: Single, individually-owned housing unit in a multi-unit building. The condominium owner holds sole title to the unit, but owns land and common property (elevators, halls, roof, stairs, etc.) jointly with other unit owners, and shares the upkeep expenses on the common-property with them. Unit owner pays property taxes only on his.
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What is a condo? A condo (short for condominium) is more like an apartment you own.It’s in a shared building or a complex, and it’s usually much smaller in square footage than a house. A condo board or homeowners association (hoa) owns and maintains the exterior of the building and all the common areas like parking garages, swimming pools, the clubhouse and maybe a gym.