Pros and Cons of Buying a Condominium?

There are many advantages to condominium living. Some of these are: 

 

  • It is more economical, generally, than comparable non-condominium housing.

 

  • It enables people of moderate and middle incomes to own their own homes.

 

  • It makes private ownership possible in areas where land values would ordinar­ily make this too expensive.

 

  • It eliminates some of the problems of upkeep and maintenance often associated with home ownership, since the cost of maintenance is shared and is usually the responsibility of the condominium corporation through its property man­agement.

 

  • It allows ownership in a multi-unit property with each owner paying his or her separate realty taxes and mortgage.

 

  • It gives the owners a right, in different ways, to participate in decisions which affect their homes.

Blog Archives

Tags