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A Comparison: Bare Land Condo vs. Conventional Condo

  1. Ownership Structure:

    • Bare Land Condo  In a bare land condo, the owner holds title to both the individual unit (such as a house) and the land it sits on. However, there may still be common areas and shared amenities that are collectively owned by all the unit owners within the development
    • Conventional Condo: In a conventional condo, the owner only holds title to the individual unit itself, not the land it occupies or any common areas. The land and common areas are typically owned by a homeowners' association (HOA) or condominium corporation, in which each unit owner holds a share.
  2. Property Type:

    • Bare Land Condo: This type of condo typically involves detached or semi-detached houses, townhouses, or duplexes, where each unit owner also owns the land on which their unit is built. The common areas in a bare land condo development may include things like roads, parks, or landscaping, which are jointly maintained by the owners.
    • Conventional Condo: Conventional condos usually consist of multi-unit buildings or complexes where each unit is individually owned but shares common areas and amenities such as hallways, elevators, parking lots, swimming pools, and recreational facilities. The land and common elements are collectively owned and maintained by the HOA or condominium corporation.
  3. Maintenance Responsibilities:

    • Bare Land Condo: Unit owners in a bare land condo are typically responsible for the maintenance and upkeep of their individual units as well as the portion of the common areas assigned to them. They may have more autonomy in making decisions about the maintenance and landscaping of their property.
    • Conventional Condo: Maintenance responsibilities in a conventional condo are often governed by the HOA or condominium corporation, which collects fees from unit owners to cover shared expenses such as landscaping, repairs, insurance, and amenities. Unit owners have less control over these decisions as they are typically made collectively by the HOA or condominium board.
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199 Chapman Circle SE
Chaparral Calgary T2X 3T6

$661,500
Residential beds: 4 baths: 4.0 1,703 sq. ft. built: 2003

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Listed by RE/MAX Landan Real Estate
Data was last updated November 3, 2024 at 12:05 PM (UTC)
Diane Richardson
Cell: 403-397-3706