| Though condos can built anywhere, perhaps one | | | | Though condos can built anywhere, perhaps one |
| of the most appealing things about them is that | | | | of the most appealing things about them is the |
| they afford people a high quality lifestyle in | | | | fact that they afford people a high quality lifestyle |
| expensive high-density areas. Million dollar luxury | | | | in expensive high-density areas. Million dollar luxury |
| condos aside, condominiums in desireable areas | | | | condos aside, condominiums in desirable areas are |
| are typically cheaper than single family homes. If | | | | typically much less costly than single family |
| you work and play in the city, buying a | | | | homes. If you work and play in the city, buying a |
| condominum can put you in the right place at the | | | | condominium can put you in the right place at the |
| right time - all the time. | | | | right time - all the time. |
| CONDOS - HOW DO THEY DO IT? | | | | A survey of of over one thousand condo owners |
| The term condominium refers to a type of | | | | released by the NAHB in 2007, revealed that for |
| ownership rather than type of unit. Condos can | | | | people who purchased condos over the last two |
| be lowrise, highrise, lofts, warehouse spaces or | | | | years, price and location topped their list of |
| ground level townhomes. When you buy a condo, | | | | priorities at 70%. This was followed closed by |
| you own the unit as well as a share of all | | | | design and size of the unit and the desirability of |
| common amenities: shared spaces, facilities and | | | | the neighborhood overall. |
| services. In some cases, condominium owners | | | | So though the pools and workout rooms are |
| also own the land the unit sits on. | | | | absolutely lovely, where you swim and workout |
| Essentially, what's shared and how it's shared | | | | still matters a great deal. For people looking to |
| defines the nature of condominium ownership. In | | | | invest and have a greater level of control over |
| contrast, single family homeowners are wholly | | | | where they live than renters, buying urban real |
| responsible for everything themselves. This gives | | | | estate in the form of condominium ownership is a |
| them greater autonomy but also a greater finacial | | | | dream come true. |
| burden. Condominium owners on the other hand, | | | | It's a fact that Minneapolis's mix of historic |
| pay home association dues or condominium fees | | | | architecture, culture and natural beauty make the |
| that help cover shared costs and labour for the | | | | downtown core a great place to be. Chosen by |
| community. These fees cover general | | | | Frommers as one of the top places in the world |
| maintenance issues like landscaping, exterior paint, | | | | to visit in 2007 - it's certainly one of the most |
| heat, water, roofing and insurance along with | | | | desirable urban locations in the Northeast. For |
| luxury perks like swimming pools, fitness gyms, | | | | years, the thriving economy and job market have |
| saunas, parking garages, security, playgrounds and | | | | been attracting young professionals looking for |
| party rooms. | | | | opportunity. |
| LOCATION LOCATION LOCATION...AND MONEY | | | | |