It is a good idea to invest in real estate properties. Understand specifics about HOA fees for either a condo or a house. In a condo, the residential guidelines for the building will likely be set by the HOA. There are condominiums for sale for under one million Baht or around $ 30,000 depending on the exchange rate at the time of purchase.
The community in a well-run building foresees upcoming larger projects and has the funds in reserves to cover the expense. Toronto has indeed earned it’s reputation as the top market for condominiums in North America with over 260 projects planned or already under construction.
Some jurisdictions have detailed rules addressing condominium reserve funds, which cover the costs of major repairs and replacement of the common property over time; in other jurisdictions, reserve funds are not mandatory. Co-op or condo owners cannot own more than three residential units in any one development and one of the units must be the owner’s primary residence.
In South Africa, condominiums are known as “Sectional Title” properties, and are governed by the Sectional Titles Act No. 95 of 1986. Some people love living in a condo community, while others discover over time that they’d be happier with a bit more privacy and freedom.
You can actually have absolute ownership of a townhouse as well as the land (yard) associated with it. In a Condominium you only own the “air-space” inside of your particular unit. It’s intended to help you understand the laws governing condominiums and your rights and responsibilities.