A condominium is a form of housing in which there is joint ownership of real property. All the partners commonly own some portions and other portions are individually owned. Often, the property consists of units in the form of apartments that are individually owned, while the common areas such as recreational areas are jointly owned.
People may have timeshares in condo hotels or condos. The only difference between a condo and a condo hotel is the price. The prices of condos are less than those of condo hotels. A condo hotel may be either an individual room or a suite located with a major hotel, but there is a slight difference between a condo hotel and timeshare resort. Condos are generally located in residential surroundings where land has a low value, whereas timeshare resorts are usually located in prime areas. Fractionals can be condos or townhouses located in an exclusive community.
Most condos have full kitchens and spacious private bedrooms. The residents can cook their own meals and save money by not dining in expensive restaurants. With timeshare condos, all the unit owners share the maintenance fee on the basis of their pro-rata shares.
People can also have resort condos in which most of the properties are resort timeshare rentals that are in exciting resort locations and are fully furnished. One can have detailed information about different resort condos across the world through resortcondo.com.
Condos are a luxurious and relatively inexpensive type of housing. People can spend their vacations in beautiful locales for less than they would spend at a typical resort.