There are a number of different ways to own a home, purchasing a condominium is one of them. West Chelsea condos for sale are individual units in a large building or complex, these units are not rented as is an apartment which can appear somewhat the same. Many condos were at one time apartments which have been renovated and put up for sale, some were townhouses and others are converted warehouses and lofts. Many condos are constructed for the purpose from the ground up but any multi-unit building can be converted into a condo, if the conversion is from an apartment, the current tenants can take the opportunity to buy or they can move out.
People who buy any of the West Chelsea condos for sale technically own everything inward from the walls. All the other areas in the building are considered to be common areas; these include the lobby, hallways, stairwells, elevators, club houses, pools, etc. The people who own their condo are members of the homeowners association and are charged monthly dues; it is these dues that pay for the maintenance of these common areas. Every owner in the building has the obligation to pay these dues and at times special assessments that may be levied for a major undertaking.
Like everything else, condominium living may not suit everybody. For those people who wish a high degree of privacy, this they will find missing in the common areas, for example, the pool will be shared with all owners. For these people, condominium living will not be suitable and they are advised to purchase a single family home. It may be more difficult to sell a condo as well; they do not own the ground under them so there is no accompanying acreage.
Those people who are ideal candidates for condo ownership are those who have lived in apartments for years and now feel that it is the right time to own rather than continue to rent. There are many people who do not want the work associated with a house; they have no interest in gardens or gardening. For these people any of the West Chelsea condos for sale makes an ideal investment and the price of a condo is usually less than a single family home with a an equivalent floor area.
