My Articles | About Us | Contact Us | Advertise With Us | Search   
 
News, Tips & Offers delivered to your inbox

ABOUT US | VIEW ALL FEATURED ARTICLES | VIEW ALL TOPICS | VIEW ALL REGIONS | DM MOBILE | DM BLOG

Pros and cons of condominium living Alabama

Owning a condo is quite different from owing a house. Make sure the condo lifestyle is for you before buying.

Local Companies

Ahepa 310-V Apartments
(251) 666-5696
100 Ahepa Ln
Mobile, AL
4 Seasons Lawn Care
(334) 393-4655
2893 County Road 156
Enterprise, AL
Century 21 Regency Realty
(334) 393-6388
531 Boll Weevil Cir
Enterprise, AL
Coldwell Banker Prestige
(334) 347-7971
529 Boll Weevil Cir
Enterprise, AL
Coldwell Banker Prestige Homes & Real Estate Inc
(334) 347-7971
Boll Weevil Cir
Enterprise, AL
Deerfield Apartments
(334) 503-9222
129 S Industrial Blvd
Enterprise, AL
Enterprise Board Of Realtor
(334) 393-9502
707 Glover Ave
Enterprise, AL
ERA American Dream
(334) 348-4663
1020 C Boll Weevil Circle
Enterprise, AL
RE/MAX Realty Group
(334) 332-7263
2705 Frederick Rd.. No. 1
Opelika, AL
Amanda Howard Home Selling Team- Weichert Realtors
256-755-1558
2304 S. Memorial Parkway
Huntsville, AL

provided by: 

Considering buying a condominium? Be warned: owning a condominium is quite different from owning a single-family home and comes with its own particularities. Before you jump into the condo market with both feet, you should make sure that the condominium lifestyle is right for you.

The benefits and drawbacks of condo living need to be weighed against your own criteria. Is security more important to you than distance from your neighbors? Are you comfortable with community living? Here is a list of the basic pros and cons of condo living to help you make your decision.

Pros

Cons
Location: There is often a high concentration of condominiums in downtown locations where land is at a premium. If you want to be in the heart of the city, a condominium may be a good choice. “Box of air”: When you buy a condo, you do not own the land beneath the building, you simply share an interest in it. Instead, you own the space between the walls of your unit, and share ownership of the common areas with other owners.
Security: Having neighbors around makes it a lot easier to lock up and leave for a vacation or an extended period of time. Also, condominium buildings often have security features, be they buzzers or a guard service. This is particularly helpful if this is your second home, and you are only there for part of the year. Community living: Shared walls and common areas mean that you are more likely to hear your neighbors or run into them more often. Also, as part of the homeowner’s association, you will have to coordinate with neighbors to come to decisions regarding the common areas.
Low maintenance: No more backaches from mowing the lawn or shoveling snow. Condo living means someone else takes care of the plumbing problems or roof maintenance for you. There may be some cases – if it’s your fault – where you will have to pay. Fees: Monthly condo fees go toward maintenance and repair of the common areas. There are occasionally additional assessment fees to handle larger repair jobs. Your fees may also be paying for amenities, such as a swimming pool, that you may not use.
Affordability: While condominiums have a wide price range, the lower range is often within the budget of first-time buyers and singles who may find single-family houses unaffordable. Resale: Condominiums are more sensitive to trends in the real estate market than single-family homes. If the market takes a downturn, condos are usually the first to suffer and the last to recover.
Amenities: Most condominium developments offer a range of amenities in the common areas. This means that you may have access to a swimming pool, gym or tennis courts that you would not be able to afford on your own. Rules: Condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, pet ownership, renovations, and even what kind of curtains you can put in your windows.
Condominium association: Every unit owner is a member of the condo association, which also has an elected board. The association serves to enforce bylaws, handles maintenance and repair issues, and deals with disputes with developers or between unit owners. Condominium association: Because the condo association is made up of homeowners rather than property-management professionals, the association may be weak and inefficient. Also, if you want to make renovations to your unit or rent your unit out, you may have to get approval from the condo association.

 

 

Published on January 12, 2007

Read full article at realestate.com

Featured Local Company

Ahepa 310-V Apartments

(251) 666-5696
100 Ahepa Ln
Mobile, AL
Read more about Pros and cons of condominium living

Regional Articles
- Pros and cons of condominium living Alabaster AL
- Pros and cons of condominium living Albertville AL
- Pros and cons of condominium living Alexander City AL
- Pros and cons of condominium living Andalusia AL
- Pros and cons of condominium living Anniston AL
- Pros and cons of condominium living Arab AL
- Pros and cons of condominium living Athens AL
- Pros and cons of condominium living Atmore AL
- Pros and cons of condominium living Auburn AL
- Pros and cons of condominium living Bay Minette AL
- Pros and cons of condominium living Bessemer AL
- Pros and cons of condominium living Birmingham AL
- Pros and cons of condominium living Boaz AL
- Pros and cons of condominium living Brewton AL
- Pros and cons of condominium living Clanton AL
- Pros and cons of condominium living Cullman AL
- Pros and cons of condominium living Daphne AL
- Pros and cons of condominium living Decatur AL
- Pros and cons of condominium living Dothan AL
- Pros and cons of condominium living Enterprise AL
- Pros and cons of condominium living Eufaula AL
- Pros and cons of condominium living Fairhope AL
- Pros and cons of condominium living Florence AL
- Pros and cons of condominium living Foley AL
- Pros and cons of condominium living Fort Payne AL
- Pros and cons of condominium living Gadsden AL
- Pros and cons of condominium living Guntersville AL
- Pros and cons of condominium living Haleyville AL
- Pros and cons of condominium living Hartselle AL
- Pros and cons of condominium living Huntsville AL
- Pros and cons of condominium living Jasper AL
- Pros and cons of condominium living Madison AL
- Pros and cons of condominium living Mobile AL
- Pros and cons of condominium living Montevallo AL
- Pros and cons of condominium living Montgomery AL
- Pros and cons of condominium living Muscle Shoals AL
- Pros and cons of condominium living Northport AL
- Pros and cons of condominium living Opelika AL
- Pros and cons of condominium living Pelham AL
- Pros and cons of condominium living Pell City AL
- Pros and cons of condominium living Phenix City AL
- Pros and cons of condominium living Pinson AL
- Pros and cons of condominium living Prattville AL
- Pros and cons of condominium living Scottsboro AL
- Pros and cons of condominium living Selma AL
- Pros and cons of condominium living Semmes AL
- Pros and cons of condominium living Sylacauga AL
- Pros and cons of condominium living Talladega AL
- Pros and cons of condominium living Theodore AL
- Pros and cons of condominium living Trussville AL
- Pros and cons of condominium living Tuscaloosa AL
- Pros and cons of condominium living Tuscumbia AL
- Pros and cons of condominium living Valley AL
- Pros and cons of condominium living Wetumpka AL
Related Local Events
Ribbon Cutting
Dates: 11/4/2009 - 11/4/2009
Location: Athens Branch
Athens, AL
View Details
Ribbon Cutting
Dates: 10/28/2009 - 10/28/2009
Location: Alabama Real Estate Solutions
Athens, AL
View Details
Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin
Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History
Articles.DirectoryM.com | Search | About Us | Contact Us | Mobile | Blog | En Español
Copyright © BET Information Systems, Inc. All rights reserved.