What Is a Condo & 6 Things to Know Before Investing in This Property Type

Abstract

What is a condo? Table of Contents What Is a Condo? Types of Condos 3 Reasons to Invest in a Condo Risks of Investing in a Condo 3 Factors to Consider Before Buying a Condo Recap It is essential investors know all of the key tips when it comes to condo properties as they can come with different management strategies than traditional rentals. What Is the Difference Between a Condo and a Townhouse? Aside from apartments, condos also share lots of similarities with townhouses. Types of Condos If you are an investor thinking about purchasing a condominium for an investment property, you should know about all of the different types of condos. Condo Home You may be wondering what is a condo home? Such a style of condominium property provides the buyer with complete ownership of the property itself. Condo Coop If you're asking yourself what is a coop condo? It essentially involves purchasing a share of a condo rather than the entire property itself. Non-Warrantable Condo What is a non-warrantable condo? Basically, this type of condo is any style of condominium that does not meet standard lending requirements. Condo Apartment A condo apartment is usually a condo that a landlord rents out.