Condominium ownership differs from typical home ownership in many ways because it is a type of "Community Ownership". In a single family detached home you would hold title to the land and the developped structures on it, where you would be solely responsible for the upkeep and maintenance of the entire property. In a condo you would hold title to a specific unit as well as a share of the common property (i.e. landscaped areas, recreational facilities, parking structures, elevators, etc..). The upkeep and maintenance within your unit's boundaries would be solely your responsibilty, however the responsibilty of upkeeping all of the common property would fall on the shoulders of all the unit owners in the development. This is where the community ownership comes into play along with your condo boards, fees, bylaws, insurance, etc...
If the benefits of the condo lifestyle is what you are looking for in a new home, but you still have many unanswered questions, check out the free seminar that Regina Public Library and the Canadian Condominium Institute are putting on.
So You Want to Buy a Condo?
Thursday, November 25th
7:00 - 8:30 pm at Central Library in Public Meeting Room #1
Tired of renting? Ready to take the leap and make a purchase? The Canadian Condominium Institute is here to help. Learn about the many privileges and responsibilities of condo ownership. Pre-register at 777-6120.