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Buying a condominium means buying an individual unit in a property with public areas owned and managed by a homeowner's association. Buying an apartment usually means buying a share of ownership ...
Condominium is an invented Latin word formed by adding the prefix con-'together' to the word dominium 'dominion, ownership'. Its meaning is, therefore, 'joint dominion' or 'co-ownership'. [3] Condominia (the Latin plural of condominium) originally referred to territories over which two or more sovereign powers shared joint sovereignty. This ...
For example, an owner would like to have a pool but cannot afford one. When buying a condominium with a pool in a CID of one hundred units, an owner would have use of that pool for basically one-hundredth of the cost due to sharing the cost with the other 99 owners. [5] Timeshare, or vacation ownership, is the same concept. Buying a second home ...
The home can be a house, such as a single-family house, an apartment, condominium, or a housing cooperative. In addition to providing housing , owner-occupancy also functions as a real estate investment .
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— Mark Hamrick, Bankrate Senior Economic Analyst “The transition from renting an apartment to buying a condo can be much less dramatic than going from an apartment to a single-family home ...
A lower-rise apartment building on the left side of the Avenue of the Americas in Manhattan, juxtaposed next to a skyscraper apartment building. An apartment (American English, Canadian English), flat (British English, Indian English, South African English) [a], or unit (Australian English) is a self-contained housing unit (a type of residential real estate) that occupies part of a building ...
A condo also offers the potential for rental income, which can be an excellent way to earn passive income. However, the condo market in Seattle can be volatile, with fluctuations in demand and ...
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