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Condo Living 101: What to Expect
More and more people are deciding to bypass purchasing a home in favor of buying a condo instead.  Although condo living is becoming increasingly popular, many people still fail to realize the advantages of living in a condo and still do not fully understand what they can expect from condo living.Mutual OwnershipOne fact that you need to understand when you own a condo is that you will be sharing the building with other condo owners.  Although you will own the actual unit in which you live, you do not own the building in which the unit is located.  Rather, you and all of the other people that live in the condo are joint owners of the building.Since you are joint owners of the building, you are also jointly responsible for taking care of the building.  As such, you will need to pay fees that will go toward maintaining the building and its yards.  In addition, you will need to help pay for insurance coverage for the building while also maintaining separate coverage for your unit.Enjoying AmenitiesOne of the great benefits of condo living is the fact that you get to enjoy a number of different amenities.  Common amenities that are included ... more

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