Real Estate: Condo Living -- Types & Advantages

Condo Living - Types & Advantages

There are many different types of condominiums available for purchase these days. Most people are familiar with the more ‘traditional’ condominiums types -- high rise, low rise or townhouses, but now you can add Stacked Townhouses (where you have one unit above another), ‘live-work’ condos (where there is a commercial space downstairs and the residence above) and also single detached homes.

Some people consider condominium living to be too restrictive but there are some very definite advantages that you should consider, compared to living in a single family home:

Security - if you like to travel, or need to be away for an extended period, it's great to be able to ‘lock it & leave it' -- not generally an option in a single family home.
Exterior Maintenance - generally taken care of by the corporation. This eliminates most if not all of the concerns regarding exterior maintenance and upkeep that you usually experience as a home owner.
Social - Many are a complete community within their complex. Offering social outings, entertainment, fitness centres, etc. that you can choose to get involved with.
Rules - each condo has a set that everyone has to abide by! This ensures an enjoyable living environment for everyone, even as owners change from time to time.
Input - you have a vote! You have some control over your environment by exercising your vote on proposals put forth by your Board of Directors regarding the running of your condominium. If you want to be more involved you can get yourself elected to the Board of Directors.

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