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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 ...
But the similarities between condo life and apartment life can also be a plus, says Mark Hamrick, senior economic analyst at Bankrate. ... Pros and cons of buying a condo.
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Pros and cons [ edit ] Home ownership gives occupants the right to modify the building and land as they please (subject to government, homeowner association , and deed restrictions), protects them from eviction , and creates a right to occupation which can be inherited.
According to the Community Associations Institute, between 22 and 24 percent of the entire U.S. population in 2017 lived in community associations. The two leading states with CIDs are California, where around 9,327,000 people lived in a CID, and Florida, where about 9,753,000 lived in a Community Interest Development.
Townhouses and apartments which are owned in the condominium form of ownership are often referred to as "condominiums" or "condos". Court: high-density slum housing built in the UK, 1800–1870. Two or more stories, terraced, back-to-back, around a short alley at right angles to the main street. Once common in cities like Liverpool [8] and Leeds.
When the time comes to buy their first home, many Americans need to carefully weigh a variety of factors before deciding on which type of property to purchase. For the most part, it's a decision...
In real estate, a condominium conversion or condo conversion is the process of entitling an income property or other lands currently held under one title to convert from sole ownership of the entire property (which often already is a multi unit property) into individually sold units as condominiums. Such entitlement is generally derived from ...
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