Condos in Madison
Updated: Jun 14, 2019
Do you ever get confused as to what the definition of a condominium really is?
Condominiums can be in the country with just two units, or in the city with high rise buildings and hundreds of units. So what sets condominiums apart from apartments? Or a duplex?
The thing that sets condominiums apart from apartments or duplexes is that condos are individually owned. Apartment buildings are all owned by one company. Duplexes are houses that are divided into two living spaces with separate entrances and the house is owned by one person or company. But condos, they can be in units of two or hundreds, big or small, in the city or country, but each are individually owned.
So now you understand what sets a condo apart in the real estate world, are you wondering if a condo is the right purchase for you? There are many different types of condos in Madison to consider. The following are a few things to keep in mind.
Do you travel often? Work late hours? Love to be around people? Want amenities like a gym or pool? Then a condo could be a great option for you. That is if you choose a condo that is part of an association. These types of condos will provide the outdoor work like mowing and snow removal. They will come with an association fee, but this fee often provides such services as mentioned above along with things like a neighborhood gym, pool, or patio space. These fees could also pay for maintenance services, leaving less hassle for you and your busy lifestyle. Keep in mind that many neighborhoods with associations also may have certain criteria like 55 years or older or small pets only.
Do you want the freedom to build your own beautiful backyard? Like to do your own yardwork and gardening? Want the freedom to choose who does the maintenance on your condo? Looking for a more private yard and home and less hustle and bustle in the neighborhood. Then a non-association condo is probably a better fit for you. If you choose a condo that is not part of an association, then keep in mind that you will have yardwork/snow removal duties. You will not have any association fees, but you will have to pay for any maintenance that needs to be done to your condo. Just like owning a house. You will be able to make your yard all your own.
Whether you choose an association or non-association neighborhood, keep in mind that you will have neighbors in close proximity. This may be just one unit next door, or it may be multiple units above, below or all around you.
Once you’ve established what type of condo you are looking for, consider the location. Condos in Madison range in location. You can find anything from outer suburb lake living to downtown living. A condo can be a great investment, whether for your primary residence or a vacation condo by the lake. Do your research, know what type of community you are looking in to and go find a condo that fit your lifestyle!