If you're one of those people who doesn't like maintaining your lawn or want to commit to a large down payment for a conventional home, buying a condo or townhouse may be right for you. Before we look at the top five reasons to buy a condo or townhouse, what are condos and townhouses?
Condos and townhouses are unit-based home purchases. For example, a condo unit will exist within a group of connected condominiums and you purchase one unit or one condo. The Amenities - Because condos and townhouses are usually in planned areas and are consider a "community" of sorts, certain amenities may come with the purchase of your condo unit or town home unit. Overall Price ; Ownership - Buying a condo or townhouse can be much cheaper than a conventional home. Ownership of a condo or town home is much the same as a conventional home. You finance or pay cash and own the title to the condo unit or townhouse you buy.
What is the Homeowner's Association?
All condos for sale and most town homes for sale are organized by a Homes Association. When you purchase your condo or townhouse, you become a member by default. All condo and townhouse owners must abide by the rules and regulations and pay their fees on a timely basis.
Five Top Reasons to Buy a Condo Or Townhouse
You'll want to include on that policy anything not covered by the association's policy.
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