A condominium (condo) community or complex of buildings contains a number of individually owned apartment style, townhome style or single family style homes. These condominium building structure is divided into several units that are each separately owned, surrounded by common areas that are jointly owned unlike homes which are leased by their tenants, condominium units are owned outright
Condos are usually managed by a Homeowners’ Association (HOA), but each individual unit has a separate owner. In general, some parts, such as the inside of your residence, are owned privately. However a percentage of other elements such as common areas, such as the outside of the building, the land and amenities are owned and maintained collectively by all of the ownere of the condominium complex.
A less technical way to think of a condo is as an apartment that you own. Like townhouse owners, condo owners pay monthly HOA fees, though these fees are significantly higher.
For those seeking maintenance free living for the exterior and the grounds, amenities, and common areas, condominium living is ideal. A staff experienced in construction and Development of Condominium Communities is essential to assure a satisfactory living experience.
Take a look at the video that shares examples of a few past projects. These contributed to members of Gordy Building Group staff and strategic alliance partners becoming a well versed and experienced Builder and Developer a variety of types residential communities.
To learn more about Gordy Building Group to get help with successfully building and developing a Condominium community, contact our us by clicking here.