Many owners live in one half and rent out the other. They share a common wall on one or two sides with another town home. Ideal for active people who don't want to spend a lot of time on maintenance, town homes generally are larger than apartments, yet offer the benefits of home ownership. They usually are clustered like apartments and many have shared entrances with neighbors. They, too, offer the benefits of home ownership without time spent on maintenance.
Owners pay a monthly homeowners fee that pays for the maintenance and general upkeep.
Each condo community has an association, and its members are bound by a set of rules and bylaws. Greater Cincinnati has neighborhoods to fit every lifestyle, income level, housing size and style. Leaving the details of buying a home to a professional can help you concentrate on the most important aspects of moving, like getting acquainted with neighborhoods, schools and the post office. Amortization - Repayment of the loan through scheduled installment payments. Appraisal - A report made by a qualified person indicating the value of a property as of a given date.