When you own a condo, your personal ownership is typically limited to the interior of your unit, and includes the floors, walls and ceilings. In addition, you share responsibilities with all the unit owners for the exterior of the complex, the common areas, and all amenities. Shared ownership offers enticing benefits, but it also carries drawbacks.
* Disadvantages of Condo Ownership
Owning a house demands additional responsibilities, because you alone are responsible for the interior and exterior maintenance and upkeep of the home. However, a house provides other advantages that a condo cannot match. * Advantages of Condo Ownership
Understanding the Pros and Cons of condo ownership during the early stages of your home search will mitigate future disappointments and assist you in making the decision that is right for you.