What is a Vacant Land Condo?

Sinclair Homes

When it comes to owning a home, buyers have a number of options. From townhouses to single-family homes and condos, the range of choices can be overwhelming. In our pursuit to make these decisions a little easier for you, we want to give you the facts about why vacant land condos are a great option for buyers.

What is it?

A vacant land condo is pretty much how it sounds: bare land that are then sold and can be used to construct a condo. This differs from other condominiums as the land is included in the condo unit. Vacant land condos allow corporations to register and sell their land as a condominium before any building take place.

Benefits of a Vacant Land Condo

So why should you consider buying a vacant land condo? One of the main benefits for homebuyers is that the condo fees are significantly less than a standard condominium. This is partly because maintenance becomes the responsibility of the individual condo owners. In more traditional condos, the condo is the responsibility of the building owner.

In addition to being able to customize your home on the inside, vacant land condos offer you the ability to turn whatever land you own into the outdoor space of your dreams. If you want to turn your backyard into a beautiful English garden, or install a patio or outdoor kitchen, you’re free to do so.

The fees associated with other types of condos can fluctuate on a yearly basis, which can be a surprise to many condo owners. Condo fees, especially in the first few years after the building has been completed, are pretty much guaranteed to increase to accommodate utility and maintenance costs. With a vacant land condo, however, condo fees remain fixed.

For a more detailed overview of vacant land condos, click here.

Have questions about vacant land condos?  Contact Sinclair Construction in Ingersoll today!

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