Condominium living can be a great experience. You get the community feeling of an apartment complex with the financial benefits of homeownership. But before purchasing a condo, you need to know what you’re getting into. Condo associations offer tangible benefits and services to their members, but members also owe certain obligations to the association and duties to their neighbors. Of course, condo associations are not all the same, and the legal framework governing condominiums varies from state to state. In general, though, there are a few important principles every condo owner or prospective purchaser should keep in mind.
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