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 North Carolina

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

Local Companies

Green Eco Communities
910.313.0975
4137 Hearthside Dr.
Wilmington, NC
Allen Tate Company
(704) 365-6910
6700 Fairview Road
Charlotte, NC
HanyWorks
704-807-3249
NC
REMAX Select
(704) 487-7653
331A S. LaFayette
Shelby, NC
Scott Farmer Properties, Inc.
(704) 822-2422
109 Tuckaseegee Rd.
Mount Holly, NC
Stanton Homes
919-278-8070
Amacord
Raleigh, NC
Chuck Faint Realty Team & Property Mgmt.
(336)349-4664
1731 C Freeway Drive
Reidsville, NC
Charlotte Homes - Charlotte Real Estate
704-493-4547
10710 Sikes Place
Charlotte, NC
Allen Tate Realtors
704-609-1528
6700 Fairview Road
Charlotte, NC
Premier Properties
704 806 4496
P O Box 1340
Huntersville, NC

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

Green Eco Communities

910.313.0975
4137 Hearthside Dr.
Wilmington, NC
Read more about Pros and cons of condominium living

Regional Articles
- Pros and cons of condominium living Albemarle NC
- Pros and cons of condominium living Apex NC
- Pros and cons of condominium living Arden NC
- Pros and cons of condominium living Asheboro NC
- Pros and cons of condominium living Asheville NC
- Pros and cons of condominium living Bessemer City NC
- Pros and cons of condominium living Boone NC
- Pros and cons of condominium living Brevard NC
- Pros and cons of condominium living Burlington NC
- Pros and cons of condominium living Camp Lejeune NC
- Pros and cons of condominium living Candler NC
- Pros and cons of condominium living Cary NC
- Pros and cons of condominium living Chapel Hill NC
- Pros and cons of condominium living Charlotte NC
- Pros and cons of condominium living Clayton NC
- Pros and cons of condominium living Clemmons NC
- Pros and cons of condominium living Clinton NC
- Pros and cons of condominium living Concord NC
- Pros and cons of condominium living Conover NC
- Pros and cons of condominium living Dunn NC
- Pros and cons of condominium living Durham NC
- Pros and cons of condominium living Eden NC
- Pros and cons of condominium living Elizabeth City NC
- Pros and cons of condominium living Fayetteville NC
- Pros and cons of condominium living Forest City NC
- Pros and cons of condominium living Fort Bragg NC
- Pros and cons of condominium living Fuquay Varina NC
- Pros and cons of condominium living Garner NC
- Pros and cons of condominium living Gastonia NC
- Pros and cons of condominium living Goldsboro NC
- Pros and cons of condominium living Granite Falls NC
- Pros and cons of condominium living Greensboro NC
- Pros and cons of condominium living Greenville NC
- Pros and cons of condominium living Havelock NC
- Pros and cons of condominium living Henderson NC
- Pros and cons of condominium living Hendersonville NC
- Pros and cons of condominium living Hickory NC
- Pros and cons of condominium living High Point NC
- Pros and cons of condominium living Hillsborough NC
- Pros and cons of condominium living Hope Mills NC
- Pros and cons of condominium living Huntersville NC
- Pros and cons of condominium living Jacksonville NC
- Pros and cons of condominium living Kannapolis NC
- Pros and cons of condominium living Kernersville NC
- Pros and cons of condominium living King NC
- Pros and cons of condominium living Kings Mountain NC
- Pros and cons of condominium living Kinston NC
- Pros and cons of condominium living Knightdale NC
- Pros and cons of condominium living Laurinburg NC
- Pros and cons of condominium living Leland NC
- Pros and cons of condominium living Lenoir NC
- Pros and cons of condominium living Lexington NC
- Pros and cons of condominium living Lillington NC
- Pros and cons of condominium living Lincolnton NC
- Pros and cons of condominium living Louisburg NC
- Pros and cons of condominium living Lumberton NC
- Pros and cons of condominium living Marion NC
- Pros and cons of condominium living Matthews NC
- Pros and cons of condominium living Mebane NC
- Pros and cons of condominium living Mocksville NC
- Pros and cons of condominium living Monroe NC
- Pros and cons of condominium living Mooresville NC
- Pros and cons of condominium living Morganton NC
- Pros and cons of condominium living Mount Airy NC
- Pros and cons of condominium living Mount Olive NC
- Pros and cons of condominium living Murphy NC
- Pros and cons of condominium living New Bern NC
- Pros and cons of condominium living North Wilkesboro NC
- Pros and cons of condominium living Raeford NC
- Pros and cons of condominium living Raleigh NC
- Pros and cons of condominium living Reidsville NC
- Pros and cons of condominium living Roanoke Rapids NC
- Pros and cons of condominium living Rockingham NC
- Pros and cons of condominium living Rocky Mount NC
- Pros and cons of condominium living Roxboro NC
- Pros and cons of condominium living Rutherfordton NC
- Pros and cons of condominium living Salisbury NC
- Pros and cons of condominium living Sanford NC
- Pros and cons of condominium living Shelby NC
- Pros and cons of condominium living Siler City NC
- Pros and cons of condominium living Statesville NC
- Pros and cons of condominium living Tarboro NC
- Pros and cons of condominium living Taylorsville NC
- Pros and cons of condominium living Thomasville NC
- Pros and cons of condominium living Trinity NC
- Pros and cons of condominium living Wake Forest NC
- Pros and cons of condominium living Waxhaw NC
- Pros and cons of condominium living Waynesville NC
- Pros and cons of condominium living Weaverville NC
- Pros and cons of condominium living Wendell NC
- Pros and cons of condominium living Whiteville NC
- Pros and cons of condominium living Williamston NC
- Pros and cons of condominium living Wilmington NC
- Pros and cons of condominium living Wilson NC
- Pros and cons of condominium living Winston Salem NC
- Pros and cons of condominium living Zebulon NC
Related Local Events
Rebarcamp Rdu
Dates: 11/6/2009 - 11/6/2009
Location: Raleigh Regional Association of Realtors
Cary, NC
View Details
Rebarcamp Rdu
Dates: 11/6/2009 - 11/6/2009
Location: Raleigh Regional Association of Realtors
Cary, NC
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.