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Association Buyers Guide

IMG_6825The Condominium Concept

A Condominium unit is a great alternative to a single family home for some people. Maybe you want to spend more time travelling and want the flexibility to just leave for a couple of weeks. Maybe you don't want to take care of the lawn, or shovel snow anymore.Maybe you want to be with a community of people. Maybe you are looking for inexpensive housing, or a penthouse suite in a downtown high-rise. Whatever the reason, below are some of the pros and cons of condo living. But one of the best benefits is that you can take off without worry about snow / lawn care, or that there will be a flood, etc. The building is usually maintained by a professional staff.

Pros

  • Professionally maintained
  • Don't have to take care of snow and lawn care
  • Safety / Security may be better with a single entrance to the building
  • Guard desks at some buildings
  • Be a part of a larger community of people
  • Wide range of floor plans, wide range of locations, wide range of pricing
  • Some buildings have underground, heated parking
  • Shared amenities such as workout room, pools, saunas, project / craft rooms, onsite library, central dining facilities, etc.

Cons

  • Restrictions in your ability to change interior walls, or to paint exterior colors, or to modify decks or windows, etc.
  • Pet restrictions in many buildings
  • Close to a large community of people
  • If you don't use the shared amenities, you're still paying for them
  • Shared Heat - If you keep your unit cooler than the average, you're still paying the same share
  • Limited parking space
  • Association dues usually increase

Additional Condo Resources:

What is the purpose of a Home Owners Association?
Single Family vs Townhouse vs Condo - By The Numbers

Condo and Townhouse Associations - Minnesota Attorney General (PDF download)

© Copyright 2019 - Steven Hong - All Rights Reserved
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