Condos have become a popular type of ownership particularly among first time home buyers. Not just do condos tend to be the most affordable choice for home ownership in financial district but they also offer a maintenance lifestyle.
What is a condo anyways and what ought to be taken into account when buying one?
The expression condo really identifies a type of ownership and not the style of construction as many people think. This kind of ownership allows the owner to get a particular unit in a building in addition to possessing a share of the common property, such as the lobby, halls, gym, recreational facility etc..
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Experience landmark living at the historic broad exchange building. Condos offer home owners many advantages over a totally free hold land, such as amusement and a low maintenance lifestyle.
A monthly fee, called a maintenance fee is paid to the condominium corporation per month to cover construction costs such as ground maintenance and occasionally your unit utility invoices.
Each month a part of this maintenance fee is contributed to the condominium's reserve fund. A reserve fund is set aside to cover for any large repairs that may need fixing in the future, like fixing the pool or roof. When looking for your perfect condo takes the above into account. Happy condominium searching.