3 Answers

A condominium is one of a group of housing units where each homeowner owns their individual unit space, and all the dwelling share ownership of areas of common use.The individual units normally share walls, but that isn't a requirement. The main difference in condos and regular single homes is that there is no individual ownership of a plot of land. All the land in the condominium project is owned in common by all the homeowners.

Usually, the exterior maintenance is paid for out of homeowner dues collected and managed under strict rules. The exterior walls and roof are insured by the condominium association, while all interior walls and items are insured by the homeowner.

country bumpkin

Michael: Utilities are separate, it's a single unit. If you're buying the condo there will be monthly condo fees on top of your mortgage. It's rare that condos are rented anymore so go through a realtor that does rentals and listings. Some owners looking to rent a condo will negotiate on the price. This is the best information I can give you. I'm not a realtor and I live in Texas so what do I know. lol

I live in a condo complex.  We pay an association fee each month which covers our television, yard/landscaping, pool and spa area, pest control, and the exterior of all the dwellings. The roofs were replaced a few years ago and last summer the blacktop was redone. We had our exteriors and doors (front and back) painted, too.  We also have monthly pesticide spraying around the place and in the garage (if you make it available to the sprayer guy). 
All out units are one story.  I share my west and east walls, which means I have NO windows on the west and east sides of my home.  The amazing thing is there is no noise that permeates from either neighbor to my home. 
My sister lived in a condo in 1973.  There was a one story unit in the front, two story units on either side and a totally upstairs unity in the back.   

What is a Condominium?
A condominium is a form of property ownership where buyers own their units in fee simple and share in the ownership of certain common property (such as roads, pools, landscaping, etc) referred to as "common elements." All different types of housing, including townhomes, mid-rise buildings, and even single-family detached housing can be developed and sold as condominiums.