Condominiums or Condos, are a very popular type of property
in down towns and cities in general. This popularity has seen the price
for Condos go up. Condos can come in any size and configuration.
Many of them have shared amenities, like fitness rooms, yards, parking garages,
etc. One of the main draws of the Condo is that you have all the
convenience and lack of work that comes with an Apartment, but with the
benefits of “Home Ownership”. Condo ownership means minimal
maintenance, but you pay for that. You will have monthly “Condo
Fees”. The Fees are to cover the cost of the maintenance of the building,
and for repairs to common services. So not only do you have to consider
the monthly cost of the mortgage, the property taxes, and the
Insurance, but now also have the monthly Condo Fees. Condo
communities are usually run by a Condo Board which can set rules for what
happens in the building. This can often lead to “Political problems” as
well.
