Is there a condo in your future?

The transition to being single may well involve moving from a house to a condominium.  This kind of move can provide benefits including a reduction in maintenance responsibilities, an instant community of fellow owners, and even new amenities such as swimming pools, tennis courts, gymnasiums, with shuttles to shopping and other activities.  But remember that when you buy into a condo association, you hold title not only to your own unit but also a financial share of common areas and services. So if neighbors fall behind (or are foreclosed upon) you and other unit owners will have to pick up the slack.  Before you buy anything, have a lawyer review the condo association’s financial statements.

1 Comment

  1. Larry

    Condoes have many drawbacks such as lack of individuality. Everything is done in common whether you like it or not. And the fees keep rising even thought you may not use many of the facilities. Also, you still pay property taxes just like a home/house.

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