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Condominium Fees and Advantages

Some of the benefits of owning a condominium unit can also be perceived as drawbacks. For instance, while the owner of a unit is not responsible for any exterior repairs and maintenance, he contributes to the costs of them because he usually pays condo association charges, which cover the expenses of these repairs and maintenance.

In addition, he may have the responsibility to pay special assessment charges, which are at times required from every unit owner. A special assessment charge, for instance, may need to be paid on a one-time basis in case the whole condominium building is in need of roof work.

There are a number of people considering condominiums as good purchases since they offer benefits that an individual may be unable to afford by himself. For instance, if you purchase a condominium unit, you may be allowed to use the clubhouse, swimming pool, basketball court, recreational center and tennis court as part of the entire deal. However, on the negative side, you may not get as great privacy as you could in some other kind of real property. For the most part, each of the condo units is located very close, if not attached, to a neighboring unit.