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. This can include things like deciding on repairs and rules around pets and parking.
Buying a condo is not the same as buying other types of houses. Condo owners each own a share of the condo’s common property in addition to their own unit. Buyers need to be aware of these differences so they can make informed decisions. There are also different types of condos, such as apartment and townhouse style condos.
Owners of condos, in addition to taking on 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. The board is elected and made up of the unit owners in the condo building.
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