If you are an expat looking to invest in Hanoi, Condos are a great choice as most expats prefer condos for its luxurious lifestyle above all other options such as Houses, apartments, etc. The condominium association manages the shared areas, sets and enforces rules, and collects fees from residents to cover maintenance and other expenses. It’s essential to familiarize yourself with the association’s bylaws, financials, and governance structure. Like any housing option, condo ownership has its benefits and drawbacks. Understanding the pros and cons will assist you in determining if it’s the right choice for you. Let’s explore some of the potential advantages and disadvantages of condo ownership.
- When someone rents a condo, they rent directly from a condominium owner.
- Condo owners may be assessed a special fee, in addition to their regular rates, if extensive repairs are required.
- Comparing condos to standalone houses involves considering various factors, such as