What defines an Atlanta condominium and what types of housing and services are available?
In the Atlanta market, the term “condominium” means a full-ownership real estate purchase by an individual that tends to be a mid-rise or high-rise unit that may offer resident services and has a monthly maintenance fee and ultimately a homeowners association, says Gigi Giannoni, chief executive officer of Evolv, a condo community in Atlantic Station. Townhomes typically include green space that may be maintained by the owner or by the homeowner association, she adds. Before purchasing a condominium, homebuyers should have a clear understanding of their homeowners association fees to avoid surprises in the future. The reserve category covers big items, such as roofing and exterior maintenance. Make sure this is well funded, Giannoni advises. “Buyers need to understand what is allowable when it comes to special assessments and the timing of assessments. Since new construction typically carries a warranty, they should be especially careful if they are purchasing in an older condominium c
