About Condos in the Valley

It is a common misconception to assume that a condominium (condo) is a type of building. It's not. Actually, it refers to the structure of the ownership of the home. Condos are similar to apartments because they are a home located in a central structure or complex with other homes. "Con" means "with others", and "dominium" means "ownership". So, essentially, you are owning your condo with others. How is that possible, you ask? Well, you obviously own your individual condo, and everything inside of it. In addition, you share ownership of the land that the condo is located on, the building or structures, and the amenities.

Many people purchase condos because they are content to have a moderate living space and a few regulations to follow. Many of these regulations are imposed to help ensure that the rest of the homes in the community hold their value, by ensuring that uniform, acceptable living standards are adopted. For example, if you had a neighbor who decided to paint the outside of their home pink and neon green, not only would it be unpleasant to look at day to day, but it would probably decrease the value in your home, which is why there are community regulations to follow. In exchange, condos usually have a lot of very nice amenities, such as pools, health clubs and other perks that would cost thousands of dollars to have included in the purchase price of a house.

Condominiums are great for empty nesters, single folks who don't want the hassle of a large home to maintain, and people who want to save money. Yes, save money. Condos are usually priced an average of 20-30 percent less than a comparable "non-condo" home. They're not for everyone, but they are definitely more bang for your buck.