What are detached condos?
Detached condos in London Ontario and area may look like single-family homes, they can be one-floor bungalows or ranches or two-story homes but with condo community rules and regulations.
There are technically 5 types of condominiums but most detached condos are vacant land condos, leasehold or freehold, here is a further explanation and what is currently for sale.
Detached condos give buyers the single-family homes they want and in some cases can eliminate exterior maintenance chores, just as with traditional condo townhouses.
In most detached condo communities, each owner is responsible for interior maintenance. Exterior building maintenance, such as windows, roof and ground maintenance in a detached condominium community may or may not be the condo association’s responsibility. However, some detached condo communities may require each condo owner to see to her own exterior maintenance issues. As with all condo corporations, a detached condo requires monthly fees as well and are usually less than traditional townhouses.
Many detached condo communities have individual units that appear identical on the outside, while a few allow different designs. Detached condos are also similar to traditional condominiums in that they’re less expensive than single-family homes.
Like all other types of housing, detached condominiums come with advantages and disadvantages. Besides their relative price advantages, detached condos usually offer the safety of gated or controlled communities and normal condo amenities such as recreational facilities or a clubhouse.
Detached condominiums are a way to buy relatively more house for less money than single-family homes.
Buying or selling a detached condo will require more diligence from you, your lawyer and your Realtor; choose the last two carefully!