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ties. A condominium owners association<br />
is responsible for maintaining the jointly<br />
owned elements. The day-to-day business<br />
of the complex is generally handled<br />
by a managing agency.<br />
The owner of each condominium<br />
unit has a vote in the affairs of the community.<br />
Each owner pays a fee to cover<br />
the operating expenses of the property<br />
and usually contributes to a reserve fund<br />
for replacements (such as a new roof) or<br />
improvements (such as decorative landscaping<br />
to improve the value of the property).<br />
Changes and improvements to the<br />
complex may be made only as you and<br />
your co-owners desire. You are responsible<br />
for maintaining the interior of your<br />
condominium unit. Typically, you will<br />
not have to perform outdoor chores.<br />
STEP 4:<br />
STARTING YOUR HOUSE HUNT<br />
Now that you know the type of home<br />
and features you are looking for, and<br />
how much home you can afford, you’re<br />
ready to begin searching for your perfect<br />
home. Whether you use a Realtor to find<br />
an existing home or work with a builder<br />
to buy a new home, you’ll be more focused<br />
with your search. T<br />
CLICK HERE TO FIND YOUR<br />
LOCAL HBA REAL ESTATE<br />
COMPANIES AND AGENTS<br />
Article provided by National Association of Home Builders<br />
THRESHOLD JANUARY <strong>2019</strong> 7
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