Do Your Homework Before Buying A Condominium By Neil Molyneux

Condominium ownership has become increasingly popular in Bermuda over the last 15 years in part because it requires a lower initial cash outlay and presents fewer responsibilities than for a traditional householder.

Generally, a condominium owner is only responsible for the interior. External repairs, re-decoration, grounds maintenance and insurance are shifted away from each owner, to condominium management.

However, some homework is required before purchasing a condominium.

Investigate how much privacy and freedom there is with the chosen condominium, as it is probably less than is associated with a traditional house.

Rules and regulations written into condominium terms and conditions can seem restrictive. However, they can encourage good standards, for the benefit of all condominium owners.