Real Estate Trends and You
The difference is that in a condo, you own the space you live in or the owner does in case you just want to rent. Owning a condo involves paying property taxes. Each unit has an owner but the building is owned by the condo owners. While one person may have purchased it to begin with, contracts ensure equal rights within the community.
Condos come with things like tennis courts and swimming pools, you’ll like condo living. You can enjoy the benefits of a pool without the hassle of owning one. You can play tennis every weekend and not have to worry about court fees, but you will be expected to pay monthly fees. Most condo buildings now come with fitness centers.
A townhouse usually has more space, and may be two or three levels, with a small outdoor space. If you buy a townhouse, you will own the space within the walls, the land that the unit sits on. A townhouse community may also have a pool, playground, tennis courts and fitness centers.
Both communities must follow Homeowner Association (HOA) guidelines which involve common areas (pools, playgrounds, fitness centers) and maintenance. They will collect a monthly fee from the unit owners for the use of those common areas or violations to the guidelines. Would you like to see a few condo or townhome listings that meet your budget? Or is Credit Repair needed? Contact Diana for details.
Comments are closed.
Diana Alexander, a member of the Houston Association of REALTORS®, Certified Real Estate Negotiation Expert, and Property Manager provides real estate services and trending real estate awareness.