Living in a condo is different than living in your own house. It is important to understand that the unit owners together run the condo and make decisions about a wide range of things.
From whether pets are allowed, to the type of vehicles that can be
parked, to setting the condo fees and deciding on maintenance and
repairs, condo life involves many rules. This means two things. First, rules that affect your condo life are not completely under your control, although you are entitled to be part of the process. Second, you will likely need to take on some of the responsibilities for running the condo. Condos rely on the participation of owners to be able to run the condo.
A condominium can be an apartment style building, a set of townhouses or even a group of houses. The term condominium does not refer to the type of housing. It refers to a type of ownership. Condominium ownership is different than owning a house. In a condominium people own their own unit but there are also common areas used and owned by all owners. These common areas may include things like a courtyard, games room or gym. Owners often also have spaces in the common area, like a parking spot, that are for their own use.
Buying a condo is not the same as buying other types of houses. Buyers need to be aware of these differences so they can make informed decisions.
Owners of condos, in addition to taking of their own condo, need to deal with the use and upkeep of common areas and other issues that affect all owners. This is done by having a condo corporation and a condo board.