Donna DiMaggio Berger wrote this commentary article about how the next generation of condo owners is changing Florida’s shared ownership communities that was featured in the Daily Business Review.
Donna writes, “Despite statistics proving that the age of condominium owners in the Sunshine State is trending younger and younger these days, the stereotypical notion of a condominium dweller being retired and overly concerned with the lives of his or her neighbors still prevails.
With a healthy economy and new condominium construction offering more amenities than ever, it should not be surprising that younger, first-time homebuyers may choose the condominium lifestyle over single-family home ownership. Condominium ownership permits a younger individual to own real property while sharing rather than shouldering many of the maintenance and expense burdens which accompany single family home ownership.
Are these younger owners prepared for the unique operational framework of the condominium lifestyle or will they change the model to fit their tastes and style?”