As Keesha explained, Condos may be an apartment or a townhouse. You purchase them the same way you would purchase a conventional house. The difference between a condo and a regular house is that when you buy a condo, you only “own” the interior. The condo corporation owns the exterior and the land it sits on. This means that the corporation is responsible for the roof and exterior structure. You are responsible for everything inside the condo. In my case, the condo corporation also owned the doors and windows and therefore were responsible for repairs and replacement. Condo owners pay a monthly fee that goes into the pool for upkeep and repairs. This is where condo ownership can get pricey--some fees are quite high, especially if you’re living in a large urban area like Toronto (in Canada.)
Could someone please tell me what the difference is between a Condo and an apartment ...we have no such distinction in the UK....
Welcome to the forum Karen, it sound like you made the best decision
Hi! It's been 13 months since I posted my original posting. I must say that we really love our apartment...... & do not worry what is happening in our apartment back home. I would never want to have a home again. Our apartment is now our home. We have no worries & can move anytime, if we want, & not have to put up with those darn real estate folks. When your young & have a family, a home makes sense. For seniors, it does not make any sense at all; if you ask me.
Hi! It's been 13 months since I posted my original posting. I must say that we really love our apartment. It is very quiet. You do not hear the neighbours but you sometimes hear the maintenance guy outside with his darn leaf blower. We are right now traveling in the UK for 64 days & do not worry what is happening in our apartment back home. I would never want to have a home again. Our apartment is now our home. We have no worries & can move anytime, if we want, & not have to put up with those darn real estate folks. When your young & have a family, a home makes sense. For seniors, it does not make any sense at all; if you ask me.
I have a house, which I love, but will likely move into an apartment at some point. Hopefully not for at least seven years or longer. But who knows? A house is great but it's a lot of financial responsibility and upkeep. You make some good points, Packerjohn.
Condo's are nice, but still, some bucks have to be shelled out for possible Closing Costs, down payment and monthly mortage.........plus, the maintenance cost of them.
Hi Packerjohn, I'm really noise sensitive, too ... have been since I was very young. I didn't mean to sound crabby in my post but I actually dread coming home some days. The neighbors right next door have a 16-year-old son that blasts music nearly every night, plus he plays the electric guitar. I've talked to the father several times and he says he's asked the boy to tone it down, but to no avail. I don't have a leg to stand on legally since the noise ordinances here don't kick in until after 10 pm, and by that time he does shut the music down. I've learned to put my own "white noise" on to drown out his, but it's only a band-aid to the problem. I also do monthly freelance writing and it really irks me when I'm trying to think. I keep telling myself I only have a few more years to endure this ... hopefully the kid moves out before then!Hi Linda Doc. So sorry to hear about fireworks. That reminds me about those stupid fire crackers they used to let off when I visited Islamic countries years ago. Very annoying. Noise stresses you & that could very well shorten your life. We live in a very quiet apartment; that is quiet inside. Outside it is very noisy. We have planes flying over head, leaf blowers in the winter & the summer, a tractor scrabbing snow in the winter & a very noisy lawn mover in the summer. The trouble is we face south where all this noise is. Glad to report that we are moving away to a small community about 15 minutes away from here on January 23. I am noise sensitive & the world is getting more noisey every year.