CONDOMINIUM
A condominium or condo is a form of housing where only a specified part or unit of a condominium building is individually owned with shared use and access to common facilities and amenities like hallways, elevators, and recreational facilities developed for the condo owners. In other words, a condominium is a collection of individual home units and common areas along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group and may not have ownership itself. A condo owner do not own the land where he is staying but only a unit of the building as compared to a townhouse unit where you own the unit and the land to which your house is established.
Condominiums have conditions, covenants, and restrictions, and often additional rules, that govern how the individual unit owners are to share the space. Condominiums are usually found in urban areas.
There is no room for expansion in a condo unit. Choose one that is ideal for you and your family, may be a studio type, 1, 2, 3 or more bedrooms. End/corner units have more space or bigger than inner units.
The price varies based on unit size, floor area, number of rooms, house type whether semi-furnished or completely furnished and whether ready for occupancy or in its pre-selling stage. Usually units with bigger space or floor area and more rooms have higher prices. End/corner units have higher prices than inner units. Furnished condos have higher prices than semi-furnished. Condo units in its pre-selling stage are much cheaper than the ready for occupancy units.
Condominiums have conditions, covenants, and restrictions, and often additional rules, that govern how the individual unit owners are to share the space. Condominiums are usually found in urban areas.
There is no room for expansion in a condo unit. Choose one that is ideal for you and your family, may be a studio type, 1, 2, 3 or more bedrooms. End/corner units have more space or bigger than inner units.
The price varies based on unit size, floor area, number of rooms, house type whether semi-furnished or completely furnished and whether ready for occupancy or in its pre-selling stage. Usually units with bigger space or floor area and more rooms have higher prices. End/corner units have higher prices than inner units. Furnished condos have higher prices than semi-furnished. Condo units in its pre-selling stage are much cheaper than the ready for occupancy units.