What makes a Condo a Condo?

[tiff211]

We went to go pick up DH's car from his best friend's house who just got married on Friday. When we pull up to his place, I say to DH, I thought he bought a condo? DH says he did. We are sitting in front of what looks to me a 2 family house. He says they bought the upstairs apartment and tells me that's what is a condo, an apartment that you own. I guess when I think of condo's I think of a building with a club house and/or a pool, condo fees, etc. Obviously I am wrong but just seeing this house and hearing it called a condo was weird.

 

[WatchinCaptKangaroo]

It depends where you live too.

Where I live more and more apartment complexes are being bought and sold off as condos. The place that I rent is a condo but used to be an apartment. A large apartment complex down the street that was bought and sold off as condos too.

In days past condos used to have tougher codes (sound proofing mainly) to meet.

 

[denisem]

I agree, the definitions are loosey-goosey in different areas.

Don't know about other areas, but in Michigan there were even "detached condos". Basically a stand-alone house with no walls touching; however, the yard care/snow removal was taken care of by the complex.

 

[Michie]

If there are shared common areas, it could very well be a condo. Most people, when they think of a condo, they think of a building with 6 or so units. It can be 2!

 

[icebrat001]

My partner and I live in a condo, it's like an nice apartment complex, we have a lake, a small putting ground, 6 pools and spas, several tennis cournts, basketball courts, racketball courts, a club house, billard room, sauna, fitness room and more and they run $300,000 and up and they start at 450 sqft. I am so ready to leave this state and live somewhere a bit more affordable.

 

[LadyyRedd]

I own a "condo", but it's really a 2 story townhouse. There's nobody above/below me. I had a small yard with sliding glass doors. But I pay a condo fee to my condo association. They pay for water, sewage, trash removal, yard maintenance, snow removal and exterior maintenance of the units.

Kimya

 

[Michie]

My partner and I live in a condo, it's like an nice apartment complex, we have a lake, a small putting ground, 6 pools and spas, several tennis cournts, basketball courts, racketball courts, a club house, billard room, sauna, fitness room and more and they run $300,000 and up and they start at 450 sqft. I am so ready to leave this state and live somewhere a bit more affordable.

 

[SplshMtn99]

The condo we live in now is a 3 story townhouse. There are 17 buildings with 4 units in each building -- total 68 units. There is no pool or clubhouse or anything like that. The condo fee goes to shared maintenance & snow/trash removal & insurance.

The condo we are moving to will be a ranch style condo. Follow link in signature. The same with no pool or stuff. Condo fee will pay same items.

 

[LoraJ]

I believe what makes it a codo is the space that you own. Like your friend may own the unit, but the roof and yard are the responsibilty of the association. In my area, there are also Co-Ops where you own just the space in your apartment, and your monthly fees go towards the mortgage and taxes of the building. That is why Co-Ops are cheaper than condos. While the unit may be cheaper, your monthly fees can be over double what a condo's is.

 

[icebrat001]

Yep, that's how we feel and we live there, that doesn't include condo fees and you still have to pay for 2 parking spaces, water, gas, electric, cable and so on, that goodness it doesn't snow!

We actually rent from the owner so we are tanking all those fees plus rent into "nothing" for a small 500 sqft condo, we even had to buy a 4 foot Christmas tree because it couldn't fit.

 

[LoraJ]

My partner and I live in a condo, it's like an nice apartment complex, we have a lake, a small putting ground, 6 pools and spas, several tennis cournts, basketball courts, racketball courts, a club house, billard room, sauna, fitness room and more and they run $300,000 and up and they start at 450 sqft. I am so ready to leave this state and live somewhere a bit more affordable.

In my neighborhood, we don't get any of those extras and they start at $400k




Glad I got in when I did.

 

[icebrat001]

In my neighborhood, we don't get any of those extras and they start at $400k




Glad I got in when I did.

Good thing I don't live in NJ.

 

[Michie]

Condominium actually refers to a type of ownership, not a building,I think that is where people become confused. Most people, when they think of condos, as I said before, think of at least 6 per building.That is not always the case.


$400,000 for a condo Yikes, you can buy a really nice home, a new one, on a acre in my area for that kind of cash.