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Condominium/Co-Op Units
Condominiums and co-ops offer the advantages of home ownership without many of the maintenance worries. You also often have the advantage of community facilities like pools, tennis courts and party rooms. However, condos and co-ops have additional inspection issues compared with single-family homes.
With a condo, you also have to consider the state of the shared areas for which you'll be paying a maintenance fee as well as the state of your own individual unit. Even if the unit you are looking to purchase is well-maintained and has few issues, the building itself may be in need of repairs that will affect your condo's value. A thorough home inspector can help you sort through all of these questions.