Condominiums, or condos, are essentially apartments that are individually owned.
Condominiums - Pros
- Condominiums are generally less expensive than single family homes
- You may be able to afford to live in a more expensive neighborhood
- Easy lifestyle – the condominium homeowners association often covers roof replacement, exterior maintenance, common area maintenance, and other expenses
- Good “lock and leave” vacation homes
- Condominiums often include amenities such as a community pool
Condominiums - Cons
- Noise from neighbors, including those above and below your unit
- Homeowners’ association fees and politics, and CC&R restrictions
- Parking at condominiums is often in a common area not attached to the home
- No yard
- Some condo buildings may have stairs
