When you’re talking to someone about buying a condo in Aspen or any other community, there’s a good chance that the person you’re talking to – or even you – consider a condo to be just like an apartment or townhome that you own… but it’s a little more complicated than that.
Check out these three things most people don’t know about condos.
3 Things You Never Knew About Condos
- A condo is a private residence inside or connected to a shared living area.
- You’ll most likely have to be in a condo owner’s association if you buy one.
- When you buy a condo, you own the walls inside your unit and everything between them – but nothing else.
Here’s a closer look at each.
#1. A condo is a private residence inside or connected to a shared living area.
Condos are private residences that are each owned by individual homeowners. They’re usually in a building that has multiple units, but sometimes condos are detached from each other as well. However, all condos share common areas, like swimming pools, gyms and community centers, playgrounds and other spaces. Condo owners don’t have to maintain the common areas; they’re only responsible for the insides of their own units.
#2. You’ll most likely have to be in a condo owner’s association if you buy one.
When you buy a condo, you’ll have to be part of an association of other owners. The association’s main job is to preserve property values, which means they’ll have rules (called covenants, conditions and restrictions, or CC&Rs) that you’ll have to live by.
#3. When you buy a condo, you own the walls inside your unit and everything between them – but nothing else.
When you buy a condo, you’re buying the inside walls and everything between them. You share usage rights to the community areas (like the swimming pool, playgrounds and other building amenities), and you pay for their maintenance and upkeep through your condo association dues.
Are You Selling or Buying a Home in Aspen?
If you’re ready to sell your home in Aspen, Woody Creek, Basalt, Carbondale or Snowmass, we may be able to help you.
Get in touch with us right now to find out how much your home is worth – and discover how we’ll be able to help you sell it quickly and for top dollar.
If you’re also looking for a home for sale in Aspen or a nearby community, check out our listings by price:
- $200k to $300k
- $300k to $400k
- $400k to $500k
- $500k to $600k
- $600k to $700k
- $700k to $800k
- $800k to $900k
- $900k to $1 million
- Over $1 million
465 Thunderbowl Lane Aspen, Colorado
5 Beds 8 Baths 9,274 SqFt 0.750 Acres
38750 Highway 82 2223 Aspen, Colorado
1 Baths 435 SqFt
152 Willoughby Way Aspen, Colorado
5 Beds 6 Baths 6,853 SqFt 0.740 Acres
100 E Dean Street 3D Aspen, Colorado
2 Beds 2 Baths 880 SqFt
400 W Hopkins 4/8 Aspen, Colorado
4 Beds 5 Baths 4,567 SqFt
26 Twining Flats road Road Aspen, Colorado
6 Beds 3 Baths 3,675 SqFt 2 Acres
1024 E Cooper Avenue 9 Aspen, Colorado
3 Beds 2 Baths 1,077 SqFt
176 Mountain Laurel Drive Aspen, Colorado
4 Beds 5 Baths 5,272 SqFt 0.720 Acres
0184 Mountain Laurel Drive Aspen, Colorado
4 Beds 6 Baths 3,916 SqFt 0.720 Acres
1452 Crystal Lake Road Aspen, Colorado
5 Beds 5 Baths 3,047 SqFt 0.660 Acres
1152 Cemetery Lane Aspen, Colorado
4 Beds 5 Baths 3,468 SqFt
449 Mountain Laurel Unit #4 Aspen, Colorado
4 Beds 3 Baths 2,570 SqFt 0.450 Acres
449 Mountain Laurel Drive Unit 3 Aspen, Colorado
3 Beds 3 Baths 2,249 SqFt 0.450 Acres
931 Gibson Avenue Aspen, Colorado
6 Beds 9 Baths 8,003 SqFt 0.360 Acres
1039 E Cooper Avenue 14A Aspen, Colorado
4 Beds 3 Baths 1,612 SqFt