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Is A Townhouse For You?
With the huge variety of real estate choices on the market today, many people aren't even clear on what a townhouse is, much less whether or not it's the right choice for them. So what, exactly, is a townhouse?
A townhouse, also called a...
Market Changes Favor FSBOs
Drastic paradigm shifts in how the residential real estate market works have been on the way for several years now. The change has really become apparent over the last year. It is easier for people to sell their homes themselves as FSBOs (for sale...
Michigan Real Estate – A Little Of Everything
With lakes, forest, farmland, college towns and big cities, Michigan has a little of everything. Fortunately, Michigan real estate prices are on the low end.
Michigan
Michigan is a state of great beauty if the outdoors is your thing. The state...
Things To Consider Before Buying A Condo Hotel Or Resort Residence
Resort home ownership, such as condo hotels and fractional shares, is different from typical home ownership. So it is important to ask certain questions before signing the purchase agreement on a resort property. The following list of questions...
Truth Of Foreclosure Home - Disadvantages Of Buying Pre-Foreclosure
Sure you have known the advantages of buying pre-foreclosure, haven't you? Adjustable agreement, up to 40% below market value foreclosure home, adequate time to research on the foreclosure home, lesser down payment, etc. Undeniable, buying...
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Condominiums – Should You Consider Purchasing One
Condominiums tend fall into the love them or hate them position for buyers. Here’s primer on condominiums.
Condominiums
Condominiums are all about communal living, which can be good or bad depending upon your personal views. This type of communal living doesn’t refer to the failed experiments of the sixties wherein hippies packed into a structure and shared everything. Instead, the modern condominium community is all about sharing common spaces as well as rules, rules and more rules.
Condominiums come in all shapes and forms. Condos can be found in a single high rise building in a downtown area or in an apartment complex type of layout in a planned community. The structure isn’t the determining point. Instead, the issue is how the properties are owned.
Unlike a stand alone home, the property lines on a condominium are the walls of the structure. Essentially, you own everything inside the condominium as your individual property. Everything outside the condominium is owned jointly with the people who own the other units. These areas are known as common areas and are subject to group rule.
Every condominium has a homeowners association in one form or another. The association has rules set out by the original developer regarding landscaping and so on. Members of the community are then elected to the board of the association, whereupon the
immediately become a focal point of aggravation from individual owners and often wonder why they took the thankless job.
The problem with the association and condos in general is the issue of uniformity. If you desire to change the exterior of your condominium in some way, you must comply with the rules of the association. This means you cannot paint your property a different color, do landscaping and so on. For some people, this isn’t a problem, but others are frustrated they can’t express themselves.
When deciding whether a condominium is a good option for your next purchase, you need to carefully weigh the restrictions of a particular association. If you consider yourself an individual and want to show it, a condominium is probably a very poor choice for you.
About the Author: Raynor James is with the FSBO site - http://www.fsboamerica.org - FSBO homes for sale by owner. Visit our home buying page - http://www.fsboamerica.org/buyer.cfm - to view and buy homes, houses, condos, land and real estate.
Source: www.isnare.com
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