Condominiums which usually get to be referred as “condos” as well are a type of apartments, giving the right of residential ownership to those living in these. You can buy a condo or you can live as a tenant as well by paying yearly charges for the maintenance of that condo. In the current scenario, where the inflation rate is going soaring high and everything is becoming out of reach, owning a house of your own is also getting influenced by it. There are many such folks all around the world who have this dream of owning a residential place of their own but they simply cannot. The main reason is obvious the high rise in the property rates where it is becoming really nerve breaking to even think to own a house of your own if you happen to be a lay man. But, condominiums are a convenient way to get that wish fulfilled. Condominiums usually get to be offered in tall building that usually tends to be more than two storeys. These can be termed as individual apartments where different unit owners tend to share certain common elements as well. it means, that you can have one bedroom or two bedroom condo of yours but with this, you usually will be required to share the lobbies, hallways, parking lots, patios, balconies, garden areas etc. A condominium is a combination of numerous residential units where the owners of those units have to share those common elements. Many a times it happens so that the owner of a larger unit tends to get more rights to the usage of common elements and at times, exclusive rights as well. Condominiums are becoming a very popular means of residency all across the world. These come in different styles and sizes and some come as really very luxurious apartments. So, in case, if you dream of living into a luxurious house, you can get it fulfilled buy living in luxurious condo unit. There are different types of condos. The most common of these are apartment style condos which come in high rise building having more than two or three storey. Then, there are town house condos that are double storyed and both the owners of those units get to have separate entrances to their units. Then, there are side by side condos that join each other with one wall only. And, the most rare and pricy of all are the individual or detached condos that are one apartment building built fully detached from the other. You get to have full amount of privacy in such types of condos and this is the reason, these come with the highest price tag. You can locate condominiums quite conveniently but you need to be sure of the fact as what befit your requirements in the most desired manner.