WHAT’SA VILLAMINIUM VS A CONDOMINIUM?
A CHANGING LIFESTYLE FOR EACH…
People are changing lifestyles desiring more time for travel and leisure activities, and wanting to spend less time working in the yard or repainting their home.
In 1984, Jeff Gilmore, president of Artisans-Stauffer, Inc. decided to offer Villaminium homes in the Fort Wayne area Parade of Homes. He laughingly explained that his idea of the difference was, “Its father was a house and its mother was a condominium.” Oh well!
Villaminiums are just one of an increasingly popular alternative to traditional home ownership. It’s a name that was created for a variation of the condominium.” A condominium is commonly owned and maintained from the drywall out. ONLY the interior space is individually owned. A Community Association is formed by the owners of the units, and the association governs and maintains all the commonly owned property, such as building exteriors and grounds.
The major difference in a villaminium is ownership. The individual purchases his own lot as well as residence, and the remainder of the grounds are commonly owned and maintained by the Community Association.
Another style of home is the fee simple townhouse which has a zero lot line, common wall and a patio. A fee simple townhouse allows the owner to take title to a small parcel of property. Because of the small lot size, the construction is vertical, usually two stories, sometimes with a basement. Zero lot line homes are built on smaller lots than the standard size for traditional neighborhoods.
Another outgrowth of the higher density area is a patio home, where a very small yard is included, allowing only enough space for a small patio on one side or front or back of the unit.
Many of these complexes offer a clubhouse, a spa, exercise and equipment rooms, kitchenette, meeting rooms, patio areas, a pool, and tennis courts for the residents.
Variations of these complexes are readily available here in the Fort Wayne area.
NOW GO AND ENJOY THE EASY LIVING…