It is time for you to go from renter to owner. Your first decision must be where you stand on the condos vs houses debate. If property ownership is right for you, but you do not want to deal with everything that goes along with a single family home you should look into condo and townhomes. This will allow you to learn everything that goes into property ownership.
A condo is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned. Use of and access to common facilities in the place such as hallways, elevators and HVAC maintenance are executed under legal rights associated with legal ownership. These rights are controlled by the association of owners that jointly represent ownership of the whole piece. Before buying a condo, you must figure out if you can avoid the monthly payments and HOA fees.
For many potential buyers, where to buy a condo is the easy part. Buying condos in a high demand area can give many home owners access to an area they would not otherwise be able to afford. Several major cities have abundant condominium development. Additionally such properties benefit from having restrictions that maintain and enhance value, providing control over the urban decay that plagues some neighborhoods.
In the United States there are several different types of condominium complexes including garden, townhouse and condominium townhouse. A garden condominium complex consists of low-rise buildings built with landscaped grounds surrounding them. A townhouse condominium complex consists of multi-floor semi-detached homes. In a condominium townhouses the purchaser owns the interior, while the condo corporation owns the the building itself.
If you are stuck on the condos vs houses debate, you might want to consider buying a condo. You will learn everything that goes into property ownership and you will not have to worry about timely maintenance. Check out a condo or townhouse and you can live in a location you never thought possible.
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