{"id":98749,"date":"2026-08-13T08:55:28","date_gmt":"2026-08-13T15:55:28","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=98749"},"modified":"2026-08-13T09:11:51","modified_gmt":"2026-08-13T16:11:51","slug":"how-to-buy-a-condo","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/how-to-buy-a-condo\/","title":{"rendered":"What is a Condo? Everything You Need to Know to Buy One"},"content":{"rendered":"
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If you\u2019re thinking of buying a house, you may be considering a condo. Condominiums, or condos, are a popular choice for many\u00a0first-time homebuyers<\/a>, homeowners looking to downsize or relocate to a place like\u00a0Jacksonville, FL<\/a>, and those looking to purchase a home in a bigger city like\u00a0New York City, NY<\/a>. If you\u2019re interested in condo life, there are some important considerations you need to make before you buy.<\/p>\n

In this Redfin guide, we\u2019ll cover what a condo is, the costs of buying and owning one, how the buying process works, the pros and cons of condo ownership, and what to know before making an offer.<\/span><\/p>\n<\/div>\n

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What is a condo?<\/h2>\n<\/div>\n
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A condominium is an individual housing unit within a multi-unit housing complex. The housing complex could contain as few as two units or more than a hundred. Each unit is individually owned and the owners are responsible for the maintenance and upkeep of their own unit.<\/span><\/p>\n

One of the most important aspects of condo ownership is that owners are also typically responsible for paying <\/span>homeowner\u2019s association (HOA)<\/span><\/a> monthly fees. The HOA facilitates the maintenance and upkeep of common spaces, such as parking lots, landscaping, roofs, and recreational facilities like pools and gyms. They decide when to take on large improvement projects and can require assessment fees to cover these projects. HOAs are also responsible for establishing rules and regulations for community members of the condominium complex.<\/span><\/p>\n

To be a member of the HOA, a person must be a current resident in the complex. In most cases, annual elections are held and condo owners vote for the residents they want to manage the HOA. So if you desire more involvement in the operation of your condominium complex, you can get involved with your HOA.<\/span><\/p>\n

\"Condos<\/p>\n<\/div>\n

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Typical condo association fees<\/h2>\n<\/div>\n
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The average range for monthly HOA fees is between $200 and $400. However, some HOA fees can be much higher or lower depending on where you live, the age of your building, and the amenities offered.<\/span><\/p>\n

Condo developments in large metro areas and older condo buildings tend to have higher monthly fees. If you\u2019re looking to buy a condo in a high-rise complex with ocean views, expect to pay much higher HOA fees, sometimes more than $1,000 a month.<\/span><\/p>\n

You may think that the lower the HOA fee, the better, but that\u2019s not always the case. Be wary of complexes with HOA fees lower than $200 a month because it can indicate an <\/span>under-managed HOA<\/span><\/a> or an HOA with little cash reserves. When an HOA has small cash reserves, it will have to charge assessments for the entirety of project costs. For example, when it comes time to replace a roof on one of the buildings, you could find yourself paying a hefty <\/span>special assessment<\/span><\/a> fee.<\/span><\/p>\n

Always be sure to get all pertinent information about your potential condo\u2019s HOA before you buy.<\/span><\/p>\n

\u201cWhen buying a condo, it’s easy to focus on the home itself, but the condo association deserves just as much attention. I always encourage buyers to review the association’s budget, reserve fund, meeting minutes, and governing documents to get a clear picture of how the community is managed; this information can be requested directly from the association. Healthy reserves, well maintained common areas, and transparent communication are all positive signs, while low reserve balances, repeated special assessments, deferred maintenance, ongoing litigation, or restrictive policies can lead to unexpected costs after closing.\u201d – Nishikwa Brown, Realtor, <\/span>Better Homes and Gardens Real Estate Palmetto<\/span><\/a><\/p><\/blockquote>\n<\/div>\n

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Types of condos<\/h2>\n<\/div>\n
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When you buy a condo, you buy what\u2019s known as a \u201cfreehold condo,\u201d where the unit is owned by the tenant. This is in contrast to a leasehold condo, where the tenant has a lease contract with a landlord.<\/span><\/p>\n

There are several types of freehold condos:<\/span><\/p>\n