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In my zip code (suburban northern Virginia) I see a 676 sq ft condo @179,900, a 675 sq. ft condo @175,000, and a 700 sq. ft one @178,000. All built in the late 60s/early 70s and are pretty basic.
A condo is only an apartment that is owned instead of rented, basically.
You couldn’t be more wrong. Mine is new construction, end unit, 2 car garage, grass on 3 sides, etc. Zero noise from the neighbors on one side due to excellent soundproofing and insulation.
You couldn’t be more wrong. Mine is new construction, end unit, 2 car garage, grass on 3 sides, etc. Zero noise from the neighbors on one side due to excellent soundproofing and insulation.
I'm not wrong, I wasn't speaking about your condo. Condos are usually just apartments that have been turned into private ownership with an HOA. If they let you rent it out your renter is renting an apartment. They like to say they are renting a condo because they think it's better. Some apartments are nicer than some condos. Usually condos are better because each person can put in new appliances as they choose, but it's still just a privately owned apartment.
Quote:
A condominium, often shortened to condo, in the United States and in most Canadian provinces, is a type of living space similar to an apartment but independently sellable and therefore regarded as real estate
A condo is a legal form of ownership, not a property description although I get that common usage tends to limit it to an apartment style unit.
In my area, it is very common to have various types of structures titled and deeded as condominiums.
They may be flats, but often are attached townhomes, duplexes, triplexes and quads, and sometimes detached structures that one cannot discern from detached single family homes.
I think the most important thing to take into consideration when buying a condo is the HOA.
Do as much research as possible into the HOA before making your down payment.
That is the most important thing, also knowing what the HOA rules are and knowing that they can be changed after to buy in. You better find out how much they have in reserve and how much HOA fees go up each year because if you buy a $100K condo with $700 HOA fees in an area where rents are $750 you are wasting your money.
Condos are usually just apartments that have been turned into private ownership with an HOA.
I'd change the word "usually" to "often." In a huge number of communities, especially those with new construction, the "usual" condo is built to be a condo and never has any sort of life as an apartment. But in some communities, I'm sure it may be true that condos are mostly former apartment buildings.
I'd change the word "usually" to "often." In a huge number of communities, especially those with new construction, the "usual" condo is built to be a condo and never has any sort of life as an apartment. But in some communities, I'm sure it may be true that condos are mostly former apartment buildings.
It's apartment style housing mostly. Yes it can be built as a condo and never have been rented out. By apartment i don't mean how nice it is, I mean in terms of it being a unit in a building
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