Condo living offers an ownership opportunity with the freedom from exterior maintenance and upkeep. Many first-time home buyers, single adults and retiring singles/couples are drawn to the condominium lifestyle for a variety of reasons.
First-time buyers are often fearful of the exterior responsibilities that a single-family dwelling poses. Roofs, garage doors, landscaping and other items that pose unknown cost and time commitment. Singles and retirees are ready for freedom from yard work or want to travel for extended vacations without worrying about home upkeep.
Design and size have changed dramatically since the introduction of the first condominiums decades ago. Condominiums are available in all architectural designs, sizes and shapes. Some are high-rise units, while others can be duplex-style ranches. You can purchase condos with basements or slab foundations. Nearly every single-family amenity is available in a condominium.
Condominium exterior maintenance does not come without a cost. Condominium homeowner associations require all owners to become members and the monthly dues are equivalent to the annual maintenance expense plus a reserve. The fees depend on the condo, location and amenities.