Condominiums – Should You Consider Purchasing One

Condominiums tend to fall into the love them or hate them position for buyers. Condominiums are all about communal living, which can be good or bad depending upon your personal views. This type of communal living doesn’t refer to the failed experiments of the sixties wherein hippies packed into a structure and shared everything. Instead, the modern condominium community is all about sharing common spaces as well as rules, rules, and more rules.

Condominiums come in all shapes and forms. Condos can be found in a single high-rise building in a downtown area or in an apartment complex type of layout in a planned community or single homes with condominium type of ownership. The structure isn’t the determining point. Instead, the issue is how the properties are owned.

Generally, the property lines on a condominium are the walls of the structure. Essentially, you own everything inside the condominium as your individual property. Everything outside the condominium is owned jointly with the people who own the other units. These areas are known as common areas and are subject to group rule.

Every condominium has a homeowners association in one form or another. The association has rules set out by the original developer regarding landscaping and so on. Members of the community are then elected to the board of the association.

The problem with the association and condos, in general, is the issue of uniformity. If you desire to change the exterior of your condominium unit in some way, you must comply with the rules of the association. This means you cannot paint your property a different color, do landscaping, and so on. For some people, this isn’t a problem, but others are frustrated they can’t express themselves.

When deciding whether a condominium is a good option for your next purchase, you need to carefully weigh the restrictions of a particular association. If you consider yourself an individual and want to show it, a condominium is probably a very poor choice for you.

Options for a Building Condominium or a house and lot with a condominium title are available in the market. Talk to a Filipino Homes Agent today.