Buying a Condo? Focus on the Financials

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Buying a Condo? Focus on the Financials

Sep 01, 2025

Condominiums, or condos, appeal to home buyers of all ages and life stages, but they are especially attractive to younger families and retirees who want to reap the benefits of homeownership while spending less time and money on  upkeep.

Residential condos are typically individually owned apartments in multi-family buildings, but a condo is a form of property ownership, not a type of housing. Condos may also be attached or detached single-family units within a community. Each owner generally owns and maintains the interior of the unit and has a shared interest in exterior and common areas which are maintained by the community, such as the roof, lobby, and landscaping, and any amenities such as a fitness center, clubhouse, and pool.

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