Who buys condos?
Condos are ideal for at least three groups of people: 1) Young couples who want their own house but cannot afford one. Condo ownership brings them many of the advantages of home ownership without the steep price. 2) A young single person who doesn’t want the maintenance responsibilities of a home or a landlord to deal with but does desire the economic advantages of home ownership. 3) Older folks who no longer need their four-bedroom home and the maintenance problems associated with it. [ top ] What is a special case condo? In addition to the standard apartment-style condo, there are styles that one might call “urban condos.” Some urban areas feature condo-like units. For instance, New York City has many buildings that were built for manufacturing, commercial or warehousing purposes. During the 1980s, it became apparent that they were no longer economically valuable for commercial purposes but that younger people wanted to live in them. Thus the transformation. [ top ] What is the diffe
