The direct cost to reside in the unit can be more expensive than owning a condo since the owner will charge more than the cost of a mortgage to make a profit. However, on average, renting an apartment is less expensive than owning a condo as apartment renters do not pay association fees...
Typically, you can expect townhouses to be less costly overall. While you could still find that you have to pay HOA fees with a townhouse, the costs are likely to be less than a similar condo. If there isn’t an HOA involved, there will be maintenance costs to consider, though they w...
Condo insurance, or an HO-6 policy, provides financial protection similar to a homeowners policy, but with some key differences.
Although renters insurance is generally much less expensive than homeowners or condo insurance, there are still ways to reduce your premium. Bundle your policies: If you also have an auto insurance policy, consider bundling your renters insurance with the same insurer to earn a discount. Install ...
» MORE: How much homeowners insurance do you need? How much dwelling insurance do you need for a condo? Condo owners generally need less dwelling insurance than homeowners do because they don’t have to insure their roof or the outer structure of their building. (As noted above, the asso...
Owning a home comes with many rights and responsibilities but you may also be part of a homeowners association (HOA) if you own a townhome or condo or are part of a specific community. Being part of these communities can be beneficial because they often take care of some of the nitty-gr...
condo insurance is crucial. While condo association insurance covers the external areas of your condo, you are still responsible for the maintenance and repairs of the interior. Therefore, it is advisable to have an individual condo insurance policy that functions similarly to homeowners insurance. ...
build equity in your home you are also building your net worth. Owning a home is a medium to store and save money. An investment that’ll likely appreciate over time. The housing market is known for fluctuating, but from a long-term perspective majority of homeowners make money during a ...
According to Michaela Cancel, senior vice president of Neighborhood Development Company, a starter home can be a condo, townhouse or stand-alone structure with limited bedrooms and is often under 1,500 square feet. Homeowners usually live in these dwellings for three to five years or until they...
Josephine NesbitDec. 13, 2024 Top 2024 Holiday Trends Take your holiday decor in a fresh direction with an unconventional color palette and a bit of whimsy. Karen DybisDec. 12, 2024 6 Holiday Front Porch Decor Ideas Spruce up your outdoor space this holiday season with these easy decorating...