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If you are interested in purchasing a home, you have probably thoroughly thought about what kind of property you want to buy. Investing in any property is a huge investment, so it is important that you consider every option. While houses have their fair share of advantages, condos suit certain lifestyles better. If you haven't considered buying a condominium, now is the time to start thinking about it! Condominium ownership has its own array of benefits, and you may find it perfect for your lifestyle. When buying a house, the homeowner purchases the building and the land it occupies. When a homeowner purchases a condo, the ownership only includes the area inside of the unit as well as a part of the common area in the building. With a traditional house, all of the upkeep involved can be overwhelming, especially if you have more space than you really need. Condos typically have a homeowner's association or maintenance team that take care of maintaining things like the pool and yard. For this reason, single people, or couples without children or children who have moved out of the house often find that a condominium better suits their needs. If you want to be close to the city center, condos may be the way to go. With a condominium, you can be right in the center of the action, while still owning your own property. Houses are great because they allow the homeowner to live in their own space with plenty of room. However, you typically won't find a big house in the heart of a major city. If you want to be in walking distance to everything that the big city has to offer, you should consider living in a condominium. Price is another major consideration. Depending on where you are looking and what type of unit interests you, condos are often much more affordable that traditional houses. While they typically are nowhere near the sizes of a traditional house, you will likely have much more affordable insurance costs and property taxes. With a condominium, you own less property. Your policy covers everything inside of your unit and the portion outside of your unit. Because there is so much less space than with a traditional house, your insurance rates and property taxes simply are not as expensive as they would be with a larger home. When you start thinking about what kind of property you should purchase, you have to weigh the pros and cons of condominium ownership and traditional homeownership. If space and extreme privacy are concerns, you may want to continue to look for houses. If you'd rather pay less money, have a more manageable property, and be in the city center, condos may have what you are looking for. If you're looking for more information on Lake Orion condos, check out: http://www.robertsonhomes.com.
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