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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 ...
When you're in a position to buy a home -- possibly after many years of saving up a down payment and preparing to take on a mortgage -- you have a few options. For example, you can buy a single ...
You might not get a great deal from buying a house.
Finnish housing cooperatives are incorporated as (non-profit) limited-liability companies (Finnish: asunto-osakeyhtiö, Swedish: bostadsaktiebolag), where one share usually represents one square meter (sometimes ten) of the apartment. Membership in a condo is obtained by buying the shares on the open market, most often through a real estate agent.
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 ...
Condominium (a.k.a. commonhold and strata title) – Ownership of an apartment or house is assigned to an individual, but common areas (e.g. hallways, heating system, elevators, exterior areas) are controlled by the homeowners' association. Fees are charged to the condo owners for maintenance of the common areas. These are referred to as "condo ...
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