From an ownership perspective, there’s a lot to like about condominiums. They offer a convenient, practical lifestyle, especially in larger cities. Condos also tend to have more accessible pricing. This boosts their appeal to first-time buyers and people in younger demographic groups. Many older people and retirees also downsize from detached homes to condos in their later years. Condos are much easier to maintain: they have no grass to cut, no weeds to remove, and no trees to trim. However, buying a condo is not the same as buying a house. Many of the same principles apply, but condos often carry extra considerations. Condo residents share walls with neighbors and must abide by community rules and guidelines. Financing requirements also differ in some ways. There are also many other differences to consider, and this guide will explains them all.