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Condo Ownership VS Home Ownership - Advantages & Disadvantages
Condo Ownership VS Home Ownership - Advantages & Disadvantages

Condo Ownership is very different than owning a home:
When you own a condo, your personal ownership is typically limited to the interior of your unit, and includes the floors, walls and ceilings. In addition, you share responsibilities with all the unit owners for the exterior of the complex, the common areas, and all amenities. Shared ownership offers enticing benefits, but it also carries drawbacks.
Disadvantages of Condo Ownership: owning a house demands additional responsibilities, because you alone are responsible for the interior and exterior maintenance and upkeep of the home. However, a house provides other advantages that a condo cannot match. 1.   Community Living
As a member of a condominium complex, you will be part of a “community.” Having shared walls means you are more likely to hear noise from neighboring units, while shared common areas can lead to more interaction with your neighbors than you wish.
2.   Fees
Every condominium owner is responsible for certain fees—typically called Home Owner’s Association (HOA) fees. These dues, generally collected monthly, will never go away! While they may minimize large “one time” expenses, additional fees may still be assessed, in response to unexpected or unplanned for events. ... more

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