Condominiums are an increasing segment of new home sales in South Carolina, especially in the Charleston area. There are many floor plans to choose from and condominiums offer a wide range of styles.
A condominium, or condo, is an individually owned unit in a complex or building of units.A general requirement of a condo owner is monthly payments to a condominium association that is in charge of property upkeep. If major repairs are needed, condo owners may be assessed a special fee, in addition to their regular fees, to cover such costs.
Advantages and Disadvantages:
Purchasing a home is considered one of the biggest investments a person will make in their lifetime. Although rewarding, it is crucial to understand different sides of that real estate. Here are some pros and cons of obtaining a condominium.
- Security services
- Covered maintenance
- Extra fees
- Less privacy (Much like apartments, condos often share common walls, as well as common spaces.)
- Restricted use