Condo Do's and don'ts
For a first-time condo owner, all of the information can be overwhelming. But there are some very important considerations you need to make before making the decision to own a condo.
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Know how a condominium works
A Condominium is actually a legal definition that refers to the method of ownership, not the type of building. Any type of home - including suites in low rise or high rise towers or townhomes - can be a condominium. When you buy a condominium, you own the interior space of your home outright. Then you and all the other homeowners in your condominium community jointly own all the other physical and mechanical structures, from the hallways and elevators to the recreational facilities and the outside grounds. These are for the shared use of all owners and are called "common elements". Your balcony or patio is also considered a common element, but it's what is known as an exclusive use common element. This means only you can use it, but the maintenance is not your responsibility.
- Know the steps in buying a Condominium
Purchasing a condominium is a significant financial investment and as a result, can be a highly stressful experience. From deciding where you want to be located in the complex, to closing on your condo, we can help you make sure you make the most of your investment in a Summit Condo. Our experienced staff can walk you through the process and make sure that all of the bases are covered.
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Know what to expect after you move in
Once you are an owner at the Summit, the first thing that we'll want to do is get you acquainted with the day to day things that make it great to live at the Summit. We'll help you get the power turned on, find help moving, and show you everything you need to know to make the most of your condo experience.
- Try and understand everything on your own.
There is a lot of information that pertains to the purchase of a condominium. We will simplify the process, aid you in making your condominium purchase, and recommend lending and legal professionals that are experts in condominiums. We can help you understand.
