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| Condos |
Condo living has become very popular because condos offer the advantages of homeownership with freedom from exterior maintenance and yard work. There's no particular style that identifies a condo. What makes it a condo is how it's owned.
When you buy one, you own the interior space--the part enclosed by the walls, floor, and ceiling. You can do anything you want with your space: paint the walls, install carpeting, anything that doesn't affect the structure of the building. You can mortgage, lease, or sell your condo just as you can any other home. And you have the tax deductions, long-term appreciation, and the satisfaction of owning your home. You share ownership in the common areas--the structure, the grounds and amenities such as pools or tennis courts. Condos are governed by mini-democracies composed of the homeowners. So if you're considering buying a condo, be sure you read the Declaration which tells how the homeowners' association is set up and the rights and responsibilities of residents.
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