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