The condominium market has ido rising steadily in recent years. Typically, a limited common element is one you share with other owners, but not all of the owners in the community. As any living situation does, condos also have their drawbacks. And if you price your condo high, then you r condo will be left unsold in the market.
There’s a condo community for every taste — whether you prefer a downtown high-rise, a loft-style condo conversion or a small complex in a serene setting. Whether you rent a condo or an apartment, you’re going to have maintenance issues that come up. Whether it’s a leaky faucet or a running toilet, the problem is going to need to be fixed.
The common areas have a master policy you help pay for through homeowners association fees. But if you speak in more technical sense, then it has to be said that a condominium is the total collection of individual units of home along with the particular land on which they sit.
People may have timeshares in condo hotels or condos. Condominium fees may have to be adjusted from time to time to reflect the changing costs of goods and services and the state of the building’s reserve fund. Ownership and common areas are the primary differences between condos and townhouses.
The Condo Group Real Estate specializes in sales and marketing for condos and townhouses in Victoria, BC. We are a dynamic group of professional real estate agents dedicated to Greater Victoria’s condo, townhouse & strata market. The Ritz-Carlton Residences provide whole-ownership, luxury living in many of the world’s most vibrant cities and stunning resort destinations.