WEST VIRGINIA – Book Review: ‘Escaping Condo Jail’
Both DeBat, a former real estate editor for the Chicago Daily News and the Chicago Sun-Times, and Benson, a real estate agent, have personal experience owning condos. In fact, DeBat emailed me that some of the experiences related in the chapters on “Bully Boards” and thefts by association board members were inspired by Benson’s personal experiences with one of her condos.
In the subtitle, “carefree” is in quotes. What was billed when the modern form of condominium ownership was born about 50 years ago as carefree, chic and glamorous isn’t really carefree at all. Steep maintenance fees, restrictions on day-to-day living and limited personal freedoms are three very real costs prospective condominium owners might not have considered. This applies to the many community developments, often gated, that feature single-family houses or town houses. The technical name for such developments is Planned Unit Developments or PUDs. The authors provide a very useful glossary of terms at the end of the book. Read more:
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