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Food, clothes and shelters are the fundamental needs of humans. As the human civilization has advanced and entered into the twenty first century, population has dramatically grown and living space has started shrinking. The man was forced to invent new methods to find dwellings, such as, apartment, caravan and condominiums. The condominiums are popular among Americans, especially in the populated states, where the prices of the properties are sky rocketing. Colloquially, the term condominium can be used in the place of an apartment. The following essay shows the general light on the condominiums. What is Condominiums? It is also referred as ‘condo’. It is attached living unit in a building and if you buy a condo, then you are the owner of living unit. Therefore, you don’t actually own the lot, yard or other surrounding areas. However, shared facilities like, pool, gym, playground area and restroom are provided. These all community facilities are maintained by the condo associations, which also take care the of all day to day management tasks. This is the one advantage of living in a condo that you don’t need to clean your bathrooms daily. Though, the owners are required to pay monthly fees to the associations for their routine community services. The association also sets the rules of the community; how the unit owners should share the community space among them. A Legal aspect of a condo The first condominium act was passed in the 1960 in Utah. By 1969, the Act was adopted by the every state of the US. Many of the urban places like Florida, orange beach in Atlanta are popular destinations for living in the condos. You can find many real estate agencies are dealing in the condos for sale orange beach and in other towns. The Home owners association (HOA) is the local governing authority of the condos and decides the monthly cost of assessing facilities. Sometimes, it also divides the time to share the amenities under the concept of ‘time share’. All the unit owners are the members of the association and elect board of directors. These boards of directors lay down the rules, as well. The major intention of building these houses is to offer the house ownership at affordable rates with the desired facilities, which are getting beyond the economic reach of the today’s man. Furthermore, these types of separate ownership give you privacy, low maintenance cost and a pride own place. Types of condo There are different types of condo complexes can be found in the Unites states. However, garden, townhouse and freehold townhouse condominiums are the three major types. The garden condos are perfect for the nature lovers and a small garden unit is dedicated to the condos. The townhouse is the multiple leveled building consists of semi-floor detached houses. The freehold townhouse condos are separated condos owned by the builders. These Joint ownership residential buildings are getting more popular. It is better to conduct a thorough research on the condos before purchasing it, for the intelligent decision.
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