Condominium living has become a very fashionable choice over the last decade. For many Americans, a relatively carefree lifestyle is the main attraction. Buyers enjoy the minimal maintenance required in condominiums as well as their lower prices.
Social, entertainment, and leisure activities are also offered in many condominium complexes, especially with condos for sale. However, before you buy a condo, you must make sure that this is the right choice for you. You can check out Biltmore square condos in phoenix online.
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A condominium is actually a form of ownership that is opposed to the construction style. Forms can apply for homeownership, low-rise residential buildings and townhouses although usually associated with high-rise buildings. Condominiums consist of two parts, units, and common areas. Units are individually owned and registered in the name of the owner.
Units have the same general areas such as recreational facilities, hallways, elevators, gardens, etc. Buying a condo means that you hold a specific unit but also that you become a part-owner of the common elements of the complex belongs to you.
However, a specific unit owner may have unshared the use of some public property elements. For example, parking space, storage, balcony unshared use common property elements. Be sure to ask about this before you buy it because it may still involve restrictions although they are common elements used exclusively.