Know about Condos and its types
Tuesday Apr 05th, 2022
Talking about condos, do you know what it is? So, before knowing the types of condos for sale
Mississauga, let's get clear about what exactly they mean. A condo is a residential complex with
separate units in which each individual owns a unit. A condo is also known as a condominium,
do if someone says that condominium is on sale, then don't get confused.
A person who owns a condo is responsible for what is happening in his unit, including
maintenance and repairs too. Apart from this, there is also a regular fee you will have to pay to
the condo association. The fee you will pay comprises of maintenance of the area, building, etc.
Benefits of buying a condo –
If you are planning to buy a condo, then there are many benefits you will get like –
Added amenities – when you buy a condo, you don't only get your unit, but you get
extra amenities like a park, dog park, parking garage, and pool. The amenities depend on
the type of complex. They are maintained by a homeowners association, and for this, you
have to give a maintenance charge.
Less maintenance – condos are best suited for old-age people or for those who are
working professionals. Both this type of people is not able to spend time maintaining
their house, and because of these condos is the best choice because most of its
maintenance is done by the maintenance department. So it does require less
More affordable – if you are confused between traditional homes and condos, then
condos are cheaper.
Security – if you are a working professional, and your child is at home alone, you will
not have any tension because there are well-established CCTV cameras and a security
guard at the main gate to take care of the who apartment. They keep a well-maintained
record of all the people who come in throughout the day.
Types of condos
Condo home – it is a residential property in which an owner pays only for that portion of
the building that he acquires. It is a type of house.
Condo share – it is a type of vacation home which a person is allowed to use for a
certain period or a certain number of days each year. It includes maintenance fees
property tax, and they are not like investment properties.
Detached condo – in this type, the condos don't share their walls, and there is some
space between the condos.
Private condo – it's like a private apartment owned by a person. Their application
process, criteria, and deposits are different from other types of condos.
Condo Building – it is a complex which comprises several condos, and each person
owns a single condo. Its ownership is controlled by community property management,
and they are also responsible for its maintenance.
Once you decide whether condos match your preferences, the next step is to find various condos
available in Toronto, Vaughan, and Mississauga and other cities. The next step is to get