Over the past few years we have seen more and more condominium buildings pop up across Central Alberta. Most people think of an apartment style living as a condo but condominiums come in many forms. Here is the best definition I found for a condo:
Condominium is a form of legal ownership. Condominium ownership combines individual ownership of a living unit with shared ownership of the common property and shared participation in the condominium corporation. Condominium properties can be high-rise towers, low-rise walkups, townhomes, single-family homes, lofts, offices, industrial workspaces, retail shops, recreational facilities, storage facilities, or any combination thereof.
There are lots of questions when buying a condo as you are an owner of just not your unit but a part owner in the complex. Condos are a great lifestyle choice.
If you are thinking of buying or selling a condo and have any questions please feel free to ask.
Thanks for reading
Ken Devoe - Century 21 Advantage