Condominiums can be a great alternative to homes, but it’s important to be aware of just what you own, and what belongs to the complex. The benefit of condo living is that you have access to a wide range of amenities, your security and pest control is taken care of, and all exterior problems fall within the realm of the homeowners association.
In most cases, when you purchase a condo you are buying your specific condominium and everything your interior walls incase. You are also co-owner to the condominium complex as a collective and are responsible for paying dues to cover upkeep and repair, security, pest control, garbage, and major renovations.
The downside to this co-ownership is that you are responsible for pricey upgrades and don’t have an individual say about how you would like the exterior of your home to look. Homeowner’s associations are democratic, so the most you can offer is your vote towards your own taste. If you do not partake in the amenities, you are still responsible for paying your monthly dues to help upkeep the faculties.
Although you own the interior space of your home, there are still rules and regulations that dictate what you can and cannot do to our home. Most condos have rules regarding what types of flooring you can use to maintain quiet for the individuals residing below you. Read over your condominium rules and regulations carefully before you begin any work on your condo.
Although you own a portion of all exterior space and amenities, you still have to follow the rules dictated by your homeowner’s association. You will have to observe hours of operation for pools, spas and laundry facilities. There may also be quiet hours that you will have to strictly adhere to.
Although you may technically own your front porch, it is actually part of the exterior of the complex. You will have to observe your homeowner’s association rules to see what you can and cannot put on your porch. Some condos won’t allow grills because smoke will rise into the condos above you. For you to have an overview or idea about the policies of the condos, it is advisable to visit some websites of the most popular condos like Clavon condo located in Singapore. Through visiting the websites of the condos you like to consider, you will do comparison when it comes to different aspects.
Ownership in a condo can be a tricky business. The rule of thumb is your interior is your own as long as you follow home ownership rules and the exterior is condo territory. Although you may own a portion through your monthly dues you pay to the complex, you are not responsible and not allowed to make any changes to this area without prior written approval.