Are Condos Just “Boxes of Air”?

One disadvantage in condo living is that you don’t really own the land you live on. While a house and lot would give you a real piece and parcel of real estate, a condominium is essentailly a “box of air” where your space is. You do not own the land beneath it. You simply share a space on it–between the walls of your unit. All the other areas are common and shared with the other owners.

However, given this, you should be happy with the location of your condo unit, because most good condos are located downtown, where land is at a premium. Imagine having to pay through the nose tjust to get that prime piece of land near your workplace and near everywhere important. If you want to live at the center of the city, then a condo is a good choice.