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Can You Afford A House?
The time has come to buy a house. Questions buzz around in your head like a swarm of angry bees: “How much can I borrow? How much do I have to put down? How much will my payments be?” Well, let me suggest starting with the “How much can I borrow?”...
Do You Work From Home? Plan Your Next Home Purchase Accordingly
The flexibility afforded by a “zero-commute” combined with the skyrocketing price of gasoline has strengthened the case for full time teleworking and telecommuting. According to an Environmental Protection Agency (2004) study:
“Americans spend...
International Purchase - New Zealand Real Estate
So you have decided to purchase New Zealand real estate and move overseas. You scanned the world’s property journals and decided that this is your best international real estate investment, and that New Zealand is the place you want to turn into...
Mortgage Qualification Problems – Not Enough Income
Qualifying for a mortgage can be a stressful affair. A common problem that can occur is not having enough income to qualify for the loan amount. If you have this problem, here are a few possible solutions.
Mortgage Creativity
You find the...
Selling Your Home - Don't Be A Victim
Selling your home can be a complex process. If you make mistakes, you may be unable to sell you home or have seller's remorse. There's no need for this if you keep in mind the following.
Overpricing Your Home
It's important to be realistic...
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Defining Condos
Condominium’s may be a confusing concept to some people. Condo’s represent a housing option that takes the step between apartment dwelling and home ownership. Condo’s, like apartments or home ownership, come both their good and bad things.
Condominium’s look much like an apartment complex. There are multiple units and they can be either townhouses or one floor. The difference between apartments and condo’s is that a condo is owned. The owner gets a title to the unit. The difference between condo’s and home ownership is that with condo ownership the owner only owns the actual condo, not the land. The whole group of condominium owners in a complex owner partial title in the common areas, like hallways, swimming pools and roofs.
Condo’s are managed by a property owners’ association. This association rules many things. Condo owners must pay a fee to the association which is used to maintain common areas. The association also manages what condo owners can and can not do. For example, a condo owner can do what they like inside their unit, like paint, but the outside is ruled by the association. In most cases there are rules that forbid
alterations to the outside of the units. An association provides everyone with an opportunity to speak their mind at a scheduled meeting, however, final rulings are made by the association.
Condo’s provide a way to own your own dwelling, but without the hassle of having to maintain the outside area. Like apartment living, though, condo owners are somewhat limited with their freedoms regarding the outside of their condo. You should understand what you can and can not do before signing a contract. You should also look at your other options and see if an apartment or a house might suit your needs better. Getting to know about the condominium complex before moving in is probably the best bet to ensuring you will be happy with your decision.
About the Author: Stephen Kreutzer is a freelance publisher based in Cupertino, California. He publishes articles and reports in various ezines and provides condo resources on Condo Central.
Source: www.isnare.com
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