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Why do people prefer to buy a condominium rather than another kind of home?
Wiki User
∙ 14y ago
In a condominium, an owner pays a monthly assessment to the association that owns the exterior real estate assets.
The association then pays for, for example:
* Building insurance * Building and property security * Common area housekeeping * Sewer and water service and other utilities * Landscaping services * Preventative maintenance * Legal fees * Accountancy fees Depending on the condominium, as an owner, you can enjoy all the luxuries of owning a home and the board members are responsible for protection, maintenance and preservation of the real estate assets that all unit owners own in common.
Wiki User
∙ 14y ago
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