Buying a condo may be one of the smartest choices you’ll ever make – but it’s not right for everyone. Check out this condo FAQ for 30A buyers to see whether buying a condominium is the right choice for you.
Condo FAQ for 30A Buyers
Check out these frequently asked questions about condos on 30A – and if you don’t see the answer you’re looking for here, feel free to call our expert REALTORS® at 850-213-3048.
What Does a Condo Owner Own?
When you buy a condo, you own the interior walls of your unit and everything between them. You don’t own the outside walls or any of the community amenities outright; instead, you share ownership of those things (like the swimming pool, playgrounds, the parking lot, the elevator, the lobby and the hallways) with all the other owners. You pay for your ownership rights through condo association dues.
Do Condos Have Maintenance?
Owning a condo means you’re responsible for maintaining the interior of your unit. You’re also responsible for making repairs if you caused the damage. However, if the building’s sewer system backs up through no fault of your own, and the water comes into your unit and causes damage, you’re unlikely to be responsible for fixing it (or for paying for it).
Are Condo Owners Responsible for Plumbing and Electrical?
Plumbing and electrical inside your unit are typically your responsibility. The pipes under your kitchen sink are a good example; if they’re leaking, you’ll be the one responsible for repairing them. The building’s plumbing and electrical systems are typically the association’s responsibility – and although you pay association dues to cover the costs of repairs, maintenance and upgrades for those systems, you’re unlikely to have a direct hand in the repairs (unless you’re on the condo board or have a job on the maintenance team).
Is it Better to Buy a Condo or Rent an Apartment?
When you own something, you can build equity in it. You pay off your lender (unless you paid cash) until the property inside your unit becomes yours outright. However, that’s not the right choice for everyone – some people prefer to live maintenance-free and rent instead. Ultimately, that choice is up to you.
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