A condominium, or condo, is a type of ownership in which one owns the air space of one's own unit and an undivided interest in the common area.

Condominiums are an integral part of the total housing market. As the housing market values change, so will values of individual condominiums.

There are several reasons that a buyer may choose to purchase a condominium or condo: First a condominium may be less expensive than a similar sized home. Second, there are many very nice condos that are new or only a few years old. Similar sized and priced homes tend to be much older. Third, condos that are newer require less maintenance and are more energy efficient. Fourth, condos owners do not have to maintain the exterior building and grounds. Many older homeowners are choosing condominium ownership for this reason. When they want to travel all they have to do is lock the door and go.

Yes. We have helped many full-time students without any job purchase their own condo. "Kiddie Condo" financing programs exist to allow a student who does not have a job to buy a condo. You will need to have a co-signer on the loan and you will have to owner-occupy the condo. Call us for specific details on how these programs work and which condo projects qualify.

The number of occupants in a condo is governed by the condo's Covenants, Conditions, and Restrictions (C, C & R's) and by city zoning regulations. You will have to contact the condominiums you are in which you are interested to find out how many occupants they allow.

A personal experience may help to answer this question. Our son was attending BYU and paying $250 per month for a shared room in an older rental unit. We decided to help him buy a condo using a "Kiddie Condo" program. He did not have a job. In his new condo, our son had a private room and he had some of his friends rent the other rooms. The resulting cost to our son was $98.00 per month for his private room. His condo was much nicer than the rental unit he had been living in. Interest and property taxes were tax deductible. Condo ownership resulted in great appreciation in value. When our son graduated from BYU, we sold the condo for a price which resulted in a 500% return on our investment over three years. Other parents have found that their children live in a much nicer place when they own it. Landlords many times do the minimum maintenance on a rental unit. Also, you can choose your own roommates. Rents tend to go up every year; with your own condo you know exactly what the costs are going to be. Over the last several years condo appreciation has been very good. However, you must remember that condo appreciation varies with the real estate market and cannot be guaranteed.

No, condominiums come in all sizes and price ranges. In fact, many older home owners are choosing to trade their large homes, with large lots requiring a great deal of upkeep, for large condominiums similar in size to their existing homes (including a two or three car garage) but with no outside maintenance requirements. Many condominium projects also have RV parking for campers, motor homes, boats, etc.

Condo homeowner's fees are used for the maintenance of the exterior building and grounds, hazard insurance on the building and grounds, and establishing a reserve account for larger expense items such as roof replacement, etc. In many condo projects the homeowner's fee also pays for water, sewer, trash, cable TV, maintenance of amenities such as pool, clubhouse, tennis courts, etc. Buyers are advised to check with individual condo projects to determine exactly what the homeowner's fee covers.

The condominium homeowner's fee is used to pay for fire insurance, water, sewer, trash, cable TV, outside maintenance, saving or reserves for capital improvements such as roof repair, and major maintenance items. These items are also required with a single family home. The only difference is that instead of writing one check for the homeowner's fee, the owner must pay for each service separately. The condo association may be able to negotiate group rates to save money.

The hazard insurance maintained by the condominium association covers the building structure and the common areas. In the event of a fire the insurance would rebuild the building. If would not replace personal items such as furniture and clothes belonging to the condo occupants. Condo owners are advised to find out exactly what the insurance coverage is on their particular condo unit and to secure insurance coverage for their personal items not covered by the condo association insurance policy.

Condominium Covenants, Conditions and Restrictions (C, C & R's) are the condo rules. Every condominium has C, C & R's that govern that condominium project. They cover such items as parking, pets, condo association management, homeowner's fees, modification to the condo unit, etc.

Yes, you can make changes to your condo. You can change carpet, paint, decorate the condo to your own personal taste, upgrade kitchens and baths, etc. However if you do anything that affects the other condo units, you will need receive approval from the condo association. This includes changes to the exterior of the unit, plumbing changes, etc. Refer to the C, C & R's for guidance.

Yes, BYU students can live in condos. However, if you are a single undergraduate student under the age of 25 you must live in BYU approved housing. You will need to make sure that the condo is approved by BYU. We can help you get a list of approved complexes.

No. In order for a condominium complex to be approved by BYU they must agree to abide by the BYU off-campus housing regulations. Each individual condo unit must be inspected to verify that it meets the BYU housing requirements.

All single students (unless excused by the Off-Campus Housing Office) must either live on campus or in BYU-approved rental units off-campus. As part of the registration process, students are required to provide their local address (not a post office box). Waivers are available for single students who (1) have children, (2) live with their parents or relatives, (3) are in graduate school, or (4) are 25 years or older.

Brigham Young University desires an environment for its single students living on and off campus that is conducive to their moral and spiritual growth as well as their academic performance. Because the university relies on the community to provide accommodations for most of its students, BYU has established an approved housing program to cultivate such an environment for single students desiring to live off campus. Through the Off-campus Housing Program, the university sets guidelines and provides services that will help bring about the environment BYU seeks for its students. Over 1,300 landlords and 18,000 rental units have been approved for single students. These units include large and small apartment complexes, basement apartments, houses, condominiums, and sleeping rooms in homes.

All real estate agents are not created equal. With Matthew & Drew on your side, you have two leading-edge experts with knowledge of the industry and insight into the local market. This is critical because you need accurate and up-to-date advice on home values, financing, disclosure, contracts and title. And Drew & Matthew understand that service is priority No. 1. They're "listeners," not talkers, who know the key to their success is meeting your needs. They accomplish this with responsiveness, detail orientation and a whole-hearted commitment to doing what is best for you. All agents are not the same. Our commitment to you includes:

Carefully listening to your needs, then working diligently to help you find the ideal home or condo that best meets your needs.

Our pledge to be completely honest in all our business dealings and to adhere to the Realtors' Code of Ethics.

Providing you with the highest quality service available.

We are specialists in the marketing and sale of condominiums. This means that we are familiar with all the various condominium projects and can provide our buyers with all the details and expert advice regarding all aspects of their condominium purchase.

We maintain a complete data base of all condominiums for sale. We will provide you with information about all properties on the market that meet your needs. This way you will be assured of making the best decision in your choice of properties.

We will guide you through the entire purchasing process. This includes providing you with a market analysis on the properties you are considering, preparing all the purchase agreement paperwork, recommending the most competent professional service providers for financing, inspections, title work, etc.

We will negotiate on your behalf to make sure that you get the best price and terms.

We will make sure your home buying experience is a positive one.

We will stay in touch after the closing, and include you in our "After Sales Service Follow-up Program."