If you’re in the market for Oakville Condominiums you’ll be pleased to hear that this type of real estate can be found in almost all neighbourhoods of the town; from the shores of Lake Ontario to the newer subdivisions like Joshua Creek, there are condos of one kind or another in them all. Here’s a guide to buying a condo in Oakville.
The Difference Between a Condo and an Apartment
First, let’s set something straight. You’re not the only buyer wondering ‘what is the difference between a condo and an apartment?’ We’re actually asked this question quite often so it’s worth answering the issue in this article.
It’s a common misconception to think that you own a condo, but you rent an apartment – this isn't the case. The difference is actually to do with ownership, though not in that way. So, here goes: the difference is that when you buy Oakville condominiums you’re buying into a certain type of home ownership whereby a number of owners have agreed to share the common elements of the property, while each individual owner owns their own unit. So, as an example, you could own a townhouse that’s part of a condo development in which there’s an indoor swimming pool. As the owner of a townhouse within the development, you are also part owner of the swimming pool and of any other common areas of the property.
So the next thing to set straight is that Oakville Condominiums come in all shapes and sizes – they are not simply high-rises; they could be low-rise, townhouses, and even detached houses, though it is rarer to find detached homes with condo type ownership. It all depends on what the developer decided to do when he bought the land.
Advantages of Owning a Condo
Now that we've got that cleared up let’s talk about the advantages of owning condominiums over a home with a freehold title. Well, many condo owners like the fact that you pay maintenance fees each month so that certain things are taken care of. Depending on what type of property you own the maintenance fees might include garden work, garbage collection, and ice and snow removal. If there are recreational facilities then it’s likely the maintenance fee will include the usage and upkeep of those (such as a gym, swimming pool, rec room etc), but they vary widely, as do the actual monthly fees that you pay.
The advantage is that if you’re a busy person and don’t want to have to worry about yard work and snow removal, a condo can be a great choice. It allows you to enjoy living a lifestyle, and if you choose Oakville Condominiums, that lifestyle is within reach! Oakville is a wonderful town to call home and many of its residents are here because of the lifestyle the town provides.
While it’s great to have certain things taken care of, having to pay monthly maintenance fees can be a drag. As I said, the fees do vary hugely depending on where you buy a condo, and on what they offer. When you’re searching for condominiums be sure to look at the monthly maintenance fee and factor that into your costs before you decide to go ahead and purchase.
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