structures include three major categories, condominiums, townhouses and lofts
in most areas. Here are the basic differences between them:
condominium buyer owns the space inside their individual unit. All of the
common areas, such as parking, land, building structures, pools, clubhouses,
etc. are commonly owned so each owner has a percentage of ownership. A
condominium owner membership association makes decisions, collects dues, and
manages the project.
Townhouse owners own their individual
units and the ground beneath them. Similar to condominiums, townhouse owners
pay dues and an association manages the project. The dues pay for maintenance
of common areas.
originated as large open space units above commercial or industrial spaces. Or,
they were commercial or industrial buildings totally converted to residential
use. Loft living has evolved and is currently defined as any apartment–like
unit utilizing open floor plans, large windows and exposed fixtures in an urban
a Penthouse is an
apartment on the highest floor of an apartment building or a hotel. It can also
be located at the bottom floor with a guilt in garage. Penthouse are typically
differentiated from other apartments by luxury features and amenities. The term
penthouse originally referred to, and sometimes still does refer to, a separate
smaller “house” that was constructed on the roof of an apartment building.
of these lifestyles are enjoyable and offers its own benefits and drawbacks. Contact CondoAgent007
if you are in the market for a condo,
townhouse, or loft.