Condominiums and its In and Outs

The only place we believe and want to be the best is our residence. Expectations on amenities, neighborhood and pragmatic view of the scenery are such demand which can not be compromised. With every way of enchanting one’s living desires and feeling sophisticated, a Condominium in short Condos can offer the maximum mileage.

The basic of condos is a typical housing concept .The total real estate piece is being associated with individual ownership and controlled by association of owners collectively representing the apartment space. It can also be represented as an apartment that is owned by collective residents as opposed to tenants. Other wise by visiting the building from outside no one could differentiate between condos and an apartment. Condominiums can be of two types, residential and non residential like offices, hotel rooms, retail outlets, group housing facilities and storage house.

If you are planning to buy Atlanta Condos then basic knowledge and overview of condominiums would be favorable for you to take correct decision.

Know your boundaries:

Technically condos are collection of individual home units. You can have ownerships of only the air space with in a condominium confining the boundaries of the home. Declaration a legal document generally specifies the boundaries. This is filed under local governing authority. Specifically the boundaries will include drywall surrounding a room. Thus a home owner can do little interior modifications with out encroach in to the common area. Any construction or changes outside the boundary would be an unruly step against joint ownership interest. This is regulated by corporation built during condominium’s inaugural.

Facilities for you:

Since condos are multi-dwelling units therefore every person can use common areas like hallways, recreational facilities like gyms, clubs, swimming pool, parks, gardens, community hall, playgrounds etc. There are some more common conveniences like heating system, elevators and all exterior areas. One can find list of Atlanta Luxury homes for sale that is known to be one of the finest condos in GA.

Condominium Varieties:

Detached condominiums: single family dwellings where homeowners do not maintain the exteriors of the dwellings, yards, etc

Site condominiums: Here owner has better control and possible ownership as in a whole lot over the exterior areas. Planned neighborhoods and gated communities generally prefer such concepts.

Condos Authority:

Home Owners Associations (HOA) manages the condominiums through board of directors after elected by the members. Depending on the jurisdiction these are named in a different way like unit title, sectional title, common hold, owner’s corporation etc. Master Deed is a document that is entitled to record the description of condominium units, the common areas and restrictions on their use. This is also known as Condominium document. Board of Directors authorized by the declaration can manage the condominium affairs and control owners for sufficient maintenance.

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