Condominiums Know About Another House Type

Generally condominiums are the first home people buy

. Most of the people move in this trajectory, they first rent a flat and before owning a house, they own a condominium. There are a few others who buy a condominium as their second home, due to its numerous benefits and reasonable price tag. An increasing number of persons are getting attracted towards living in condominiums. So many people these days buy a condominium after making a conscious decision of owning it over any other real estate.

It becomes important to mention, what actually a condominium is in reality. A condominium is a kind of real estate property generally liked by people who appreciate city life and culture. In it, a unit owner owns a confined and predefined space and shares the common area with other owners, but they do not own the land where the condominium unit is built. These are different from the apartments that are available on rent, as these are owned. The term condominium is mainly used in countries like US, Canada, New Zealand and Australia; where as the same term gets modified to co-property in Quebec.

Practically there is a difference in condominium and apartments, both are different in terms of ownership. In condominium (herein after referred to as condos), the owner pays a monthly share for the maintenance of the areas that are common to every one living in the locality. Generally those people who want to refrain from the supplementary responsibilities of cleaning the exteriors of the home prefer to own a condo. There are a few things that should be kept in mind before you think of owning a condo.

First and the most important thing to identify is the type of condo you would like to own? There are many types of condos available today based upon individual or family requirements. Once you have decided the condo type, next task is to select a location or area of the city. Certain people find living in condos not ideal for families with children. This purely depends on an individuals idea of living. Knowing your budget and working in accordance to your plans to meet requirements is also important. It is really important to know that living in condo demands a high financial strength from your side. If you do not have sufficient income, you may find it tough to live in the condos.

Certain people have misconceptions related to condos in their mind. A few people think that the condos are small. The reality is that the condos come in variety of shapes and size. They may or may not always be small. Some people believe only single home owners have garage while the condo owners do not, but it is not so. Many condo buildings have either a separate land to park vehicles or they keep the level 1of building exclusively to meet the requirements of garage.

Owning a condo is a perfect idea for those who do not like the general maintenance associated with the home ownership. Variety of condo comes with optional 1 BHK or 2 BHK and 3 BHK accommodations. 3 BHK flat in Chandigarh are very common among families who think highly of living in the social order.

by: ajay

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