Purchasing a condo is a way to buy for less.

Co-ownership often corresponds with first-time buyers, generally due to the  more interesting purchase price. It allows young families and tenants to become homeowners faster.

In many urban centers, this type of acquisition has surpassed that of individual houses. However co-ownership is not only intended for first-time buyers, but also applies to older people who no longer wish to upkeep a single-family detached home, and prefer instead the convenience of living in co-ownership.

Co-ownership is by and large an excellent real-estate investment. It corresponds with the quest for security amongst the foibles of modern-day life: the fragility of couples and relationships, the increasing number of single people. Investment in stone and mortar is often perceived as being safer than the stock market. The purchase of a condo can thus be seen as a long-term, stable and secure investment in contrast to the uncertainties that the future holds. Moreover, it is a good way to diversify one’s capital.

On the other hand, condo-living entails the presence of neighbors, more or less close by. In the case of town houses, this proximity is relative, but in the case of multi-storey buildings, the neighbors surround you everywhere. A certain ability to cohabitate with others is therefore a must.

Co-ownership is a mixed system of ownership, both individual and collective. The owner of a condo-unit exercises his right of ownership within a collective framework. He must unavoidably share a portion of the building with the other co-owners, in addition to complying with strict operating rules. It follows that the right of ownership, in a co-owned building, is subject to a greater number of rules and standards than in a traditional property. The declaration of co-ownership provides the legal framework to ensure the balance between individual rights and collective rights.

Warning! Before buying there are precautions to take! Purchasing a condo is often the result of love at first sight or the dream of a lifetime. To avoid difficulties, it is better not to rush. Several points should be reviewed carefully.