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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.
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 the United Kingdom, the term duplex is sometimes used by property professionals such as architects and estate agents and refers only to a flat or apartment on two floors connected by an inner staircase though many newer apartments have open-plan designs including mezzanines. The far more commonly used term is 'maisonette' meaning two ...
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 ...
You might not get a great deal from buying a house.
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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 ...