Most people, when considering a property for sale in Manhattan, will automatically think of a house, but it doesn’t have to be that way. When people think of owning something, they typically don’t think of apartments or condos, but they can be owned, just in a different way. Therefore, you have many other properties available to consider.
How To Own A Condo
Real property is designated as the parts you own. In a house, you will own the walls, flooring, ceiling and some land. With a condo, you will own the walls and the items within the place. In most cases, you will need to refer to the paperwork that comes with the condo to determine who owns what.
What’s Best For You
While this is a personal question that only you and your family can answer, you will want to consider your lifestyle, needs and wants. For larger families, a house may be beneficial because you will have a larger yard, more room to play and other benefits. For smaller families or those that can find kid-friendly condos, where there are kids’ play areas and playgrounds, a condo may still fit your needs very quickly.
Benefits Of Each
Houses typically offer private yards, the ability to do what you want to the home, no extra fees and have total control of the area. You can repaint your doors, change out the windows and do other large projects without worrying about rules. However, you will also be required to handle maintenance and insurance.
Condos will usually allow you to handle change inside, depending on your agreement, but won’t give you any say on the outside. You won’t have to worry about lawn care or snow removal, but will have monthly maintenance fees to help pay for those services.
What Rules In A Condo
Each condominium will be different, but they will typically have rules in place governing guests, pets, appropriate changes that can be made, noise levels and more. It is up to you to read through the rules, understand them, and abide by them, or you could be removed from the building.
Other Considerations For A Condo
When looking into a condominium, you’ll want to consider how they cover maintenance issues. Do they have enough reserved money in the funds to cover expenses? Do they pay for their improvements using those funds or will you be required to pay extra charges?
Property for sale in Manhattan doesn’t just mean a house. Visit Manhattan House today to learn more about their availability and amenities.
