TOWNHOMES & CONDO’S
Posted June 6, 2007 2:44 p.m. EDT
A lifestyle made simple
Why should an investment in your home have to go hand-in-hand with an investment in a lawn mower and expensive plant materials? It doesn’t. Townhome and condo sales are on the rise in the Triangle, largely due to the convenience factor. What should you know, as a prospective townhome or condo owner?
Know the difference between the two. Generally, a townhome owner owns the roof and the land under and surrounding the house. The common areas and parking lots are owned by the homeowners’ association. In condos, the owner only owns the area between the walls including the carpet, fixtures, cabinets, etc.
Homeowners’ Dues. Most townhome or condo communities will have homeowners’ associations that provide basic maintenance, along with amenities like landscaping and security. Make sure you are clear on exactly what they are and what you will receive in return. In fact, get involved with the association, it’s a great way to get to know your new neighbors!
Your options. Going condo no longer means sacrificing. Many luxury townhomes feature as much as, or more space than a single-family home, but without the hassles of maintenance and upkeep.