Condo rules a deal-breaker for some

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

If you're thinking about buying a condominium, investigate carefully before you purchase. Failure to do so can cost you plenty. Condo living can be a great lifestyle choice. For some first-time buyers it's the only choice. Condos also make great second homes or retirement properties. They are also great for those who don't want to cope with exterior maintenance. Before you purchase a condo it's important to know the benefits as well as the potential pitfalls.  1. What type of ownership are you purchasing? The term "condominium" normally refers to the style of ownership. For example, when you purchase a single-family residence, you normally take title to both the land and the improvements. In contrast, condo ownership normally involves more than just the unit you will occupy. The most common style of ownership grants you an undivided interest in the entire property, a right to occupy a specific portion of that property, and shared use of the common areas. &qu...