A condominium (condo) development is a building with multiple units where each unit is owned by an individual. The building usually has common elements and/or shared amenities which may include the following; exterior courtyards, rooftop decks, exercise rooms, amusement/party rooms, etc… Condo buildings can range from low-to-mid-to high-rise buildings.
If you buy a condo, you own only the interior of the unit while the building owner owns the rest of the building area and property.
A townhouse is a single to multi floor residence with their own entrance. The townhomes usually will have anywhere from three to five units in a section.
If you buy a townhouse, you own both the interior and exterior of the individual townhome unit. That will include the driveway, the front and the backyard of the unit. The interior will have at least one to two shared common walls (unless the townhome is detached).
The Homeowners Association (HOA) monthly fees usually covers common areas and also the outside maintenance. Such as; snow removal & lawn care, landscaping, etc..
A condo and a townhouse both have their pros and cons. Deciding between a condo and a townhouse greatly depends on your preferences.
If you have additional questions or looking to buy and/or sell a condo or a townhome, please feel free to contact RE/MAX Results – Shannon Lindstrom, Realtor at 612-616-9714 or visit www.ShannonLindstromRealtor.com today.
The city of Minneapolis is known for its unrivaled beauty when it comes to lofts with a stunning view of the city. You can find an abundance of lofts in the city, which offer a quiet comfort with luxury amenities at any price range which suits you.
Boutique Style Lofts
The North Western part of Downtown Minneapolis is known for their unique, boutique style lofts, which feature a number of old- style, vintage themed houses. These are buildings which have a number of well- styled and luxurious condos in them. You will find a number of amenities, including indoor heating, a fitness area, and a security system.
Located all over downtown Minneapolis, warehouse lofts are extremely popular because of their spacious interiors and fantastic views. Many lofts are also equipped with urban patios. These lofts are perfect for those people who work and study in downtown Minneapolis. There are several luxury facilities included in the lofts, including storage units, outdoor maintenance, and trash and sewage treatment systems.
Located mainly in the center of downtown Minneapolis, modern lofts in the area consist of a lot of contemporary designs with free flowing interiors. These lofts stick to the gritty aesthetic of original lofts, without losing touch of their modern side. These lofts offers something for everyone. You find some of the shared amenities may include building security systems, free cable, exercise room, amusement/party room, and outdoor maintenance.
Urban Living Lofts
Located mainly in the northern part of downtown Minneapolis, urban living lofts offer a culmination of other other types of designs, such as industrial and modern features. These lofts are most modern in their build, and offer a combination of one, two, and three bedroom lofts. The amenities that urban living lofts offer include community centers, rooftop patios, fitness areas, and indoor heating.
One reason people love looking at condo & single-family homes in Minneapolis is to feel at home in the natural beauty surrounding Minnehaha Creek.
And the future of your Minneapolis condo or loft surroundings is unfolding today.
Check out Minneapolis Parks and Recreation’s Regional Trail Master Plan, focusing on Minnehaha Regional Park out to western Minneapolis.
Over the coming three decades, watch for new paddling and tubing launch areas, additional wading pools, play sets and exercise courses, bike parks, and even an urban arboretum.
Minneapolis trails and parks are major attractions for home buyers.
Many condo and home buyers tell us that they want to live within a few blocks of the wonderful urban trail network that runs through the city and along the Minneapolis waterside.
Now, residents will enjoy dedicated running and biking trails. Intersections will provide enhanced safety, too.
Funding for the evolving project comes from the city’s Parks and Trails Legacy Fund. Minneapolis residents voted in 2008 to fund the protection of the natural landmarks, parks and trails that make this city such a splendid example of urban living.
The plan will incorporate both natural vistas and public art installations.
Our famous Parkway stretches through a watershed that encompasses not only Minnehaha Creek and Minnehaha Falls, but also Lake Minnetonka and the entire Minneapolis Chain of Lakes, with 129 lakes and eight large creeks.
Condo & Homeowners love the sense of being in the forest in urban Minneapolis. Local residents asked Parks and Recreation not to overdevelop the meandering trails and scenic waterside parklands. Art works will be in keeping with the spectacular wetlands surrounding the Mississippi River.
We’ll have more on this site about the parks and trails of Minneapolis. The beauty of the Minnehaha Creek Watershed District is unique and special to our city.
The Minneapolis Condo market has attractive offering for first time buyers and also experienced condo buyers. A mortgage is readily available for individuals with a residential condo who are looking to renovate their property within a condo association permitted guidelines. If you have a condo with very wide rooms which you want to break down into smaller rooms or install permanent fixtures like a walk in closets, remodel a kitchen and/or a bathroom, then you can apply for a mortgage to carry out the renovations.
Both banks and individual mortgage companies provide loans to fix up condos in Minneapolis metro area and also in the suburbs depending on the zoning laws and your financial condition. The amount of loan that is given to you and the terms of interest and repayment will also be fixed on the value of the unit and renovations you wish to carry out on the same.
Things to keep in mind while seeking finance to renovate a Minneapolis condo
Using contractor to make changes – When you are planning to carry out some major masonry and carpentry work on your condo, then it is best to seek the advice of an experienced and approved contractor who can give you a clear estimate about likely costs and the time required to complete the changes. You can seek contractor referrals via the internet or ask others for references.
Condo regulations – In general all condo owners are subject to special rules and regulations of the Owners Association and have to pay for a monthly association fee for the maintenance of common areas like parking lots, security and cleanliness. You will have to check with the condo association and/or their architecture community for approval before carrying out any structural changes in your condo as it may lead to objection by others.
Understanding the refinance and renovation loan contract – Though there are strict regulations about renovation, there are chances that you may have been given an attractive offer by a mortgage lender. Read every part of your home improvement mortgage contract to understand how much you are paying back as interest and how much is being actually used to carry out the renovation.
The Fair Housing Act ensures that no discrimination is made on housing related transactions whether it is mortgages or home improvement loans. Lenders cannot deny funds or offer unfavorable terms to borrowers on the basis of their race, color, national origin, religion, sex, familial status or handicap (disability), if they are financially capable of paying it back.
Are you thinking or planning to relocate to Minneapolis in the near future. It is important to find a local Twin Cities Realtor who understands the stressors of moving to a new city and has knowledge of the local real estate market place. RE/MAX Results – Shannon Lindstrom, Realtor specializes in relocation and she works the entire Minneapolis, St. Paul and surrounding suburbs.
Shannon has personally experienced corporate relocations, so she understands it can be stressful moving to a new city. When an individual and or a family relocate, it is not an easy task. Shannon’s advice is to do your research. The cost of living in every city is different. Many years ago, Shannon Lindstrom and her family had relocated from Minneapolis, Minnesota to other states for business purposes. At the time, she had calculated the monthly living expenses were going to increase, since the cost living was higher in that specific city and state. Before she had traveled to that specific location to find a new home; Shannon had researched the local school districts, the real estate market, the property tax rate, transportation costs, etc…
When Shannon & her family relocated back to the Twin Cities, she was well prepared for the move.
If you are looking for a Minneapolis Realtor who specializes in relocation, please feel free to contact RE/MAX Results – Shannon Lindstrom, Realtor at 612-616-9714 or email at Lindstrom_S@msn.com today.