When we talk about a ‘condo,’ what image comes to your mind first? A tall residential building? That’s right, most of the time, but not always. You will see that some townhomes are also classified as ‘condo.’ ‘Condominium’ is not defined as a certain type of dwelling by structure, such as a high-rise building. It is, in fact, a type of ownership. A condo unit owner not only owns that unit but also holds a percentage of interest in the common elements of the building.
