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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 ...
Garage-apartment: an apartment over a garage; if the garage is attached, the apartment will have a separate entrance from the main house. Garlow: a portmanteau word "garage" + "bungalow"; similar to a garage-apartment, but with the apartment and garage at the same level.
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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 ...
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 ...
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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