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Condominiums vs. Townhomes and condominium-townhomes;
Developers are actually naming condos condominium-townhomes which is a complete contradiction. There's no such thing as a condominium-townhome. The difference between a condominium and a townhomes is technically about ownership rights not design, layout or features.
A buyer of a condominium owns his or her individual unit, plus a percentage of the surrounding property, including land and any amenities on the property. The word "condominium" is Latin, meaning "common ownership" or "common control". Residents are members of a Condo association and pay a monthly fee to the association in exchange for maintenance of the common property. A condominium complex has a master deed which outlines the percentage of
ownership each unit has invested in the entire complex. Condominiums come in a wide variety of architectural styles, high-rise 10+ story buildings to duplex style or even single family home styles.
The buyer of a townhome purchases the individual unit as well as the ground underneath that unit. Townhome residents also typically belong to a homeowners' association and pay monthly fees in exchange for the general maintenance of common outdoor areas but not complete maintenance of the their town home. The ownership and maintenance issues are the main different in townhomes and condos. Townhome homeowners are usually responsible for some or
all of the exterior upkeep of the property and their own insurance; whereas condominiums almost always include insurance cost in the Condo fees. This being the case townhome monthly fees are usually lower, but the townhome owner must pay for their own insurance and some exterior upkeep which make cost about the same.
Condo owners are responsible for the space inside their own walls. They don't enjoy that same privilege on the outside of their homes. Condo Common areas are generally defined to include shared hallways, parking lots, any exterior walls and the land on which the condominium development sits, as well as any amenities on premises for the enjoyment of residents.
If properly managed homeowners' associations are a excellent insurance policy for the value of your property and that of your neighbors.
You may gain public access to Brevard County
property listings
www.brevardaccess.com .
Sincerely, Scott
Sadlon
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