When most people think of a condominium, they think of a high-rise apartment building. While that is certainly one option, there are various types out there, and it’s important to understand them all so you can choose the right one for you.
Defining A Condominium
However, the place’s style isn’t as important as knowing the type of ownership you have when you consider an Upper East Side condo for sale. When you buy a condominium, you’re buying a little part of a big thing. For most owners, it means that you own the inside of the place, but don’t own the outside areas, such as the lawn, parking lot, front door, outside walls and other shared property (such as common areas).
You may also note various rules that you must abide by when owning a condominium. The Homeowners Association will have sets of rules in place that help govern what can and cannot be done in the home, along with fees that must be paid for the common areas. Common or shared areas can include elevators, hallways and some or all of the amenities.
Now that you understand what a condominium is, you can determine which type may be most suitable for you. You’ve got many options, including single-detached homes, apartment buildings, townhouses, lofts and more. They can come in a variety of styles, sizes, and shapes.
Therefore, it may not matter what the architectural style is but may depend more on the amenities and services they provide to you.
New and Old
Upper East Side condos for sale are likely going to be newer and may come with more amenities, including gyms, private parking spaces, valet parking and more. You may have open floor plans, high ceilings, more natural light and other perks, as well.