A condominium, often referred to as a condo, is a type of housing arrangement that combines elements of both apartment living and individual home ownership. It is a multi-unit property where each unit is owned individually by residents, while the common areas and facilities are collectively owned and maintained by an association or management company. Condominiums offer a range of housing options, from high-rise buildings to townhouse complexes, catering to diverse lifestyles and preferences. Residents benefit from the convenience of shared amenities such as swimming pools, gyms, parking spaces, and common recreational areas. Living in a condominium provides a sense of community while still offering the privacy and independence of owning a private living space. Condominium ownership often includes shared responsibilities and obligations, such as paying monthly maintenance fees and adhering to community rules and regulations. This housing option is popular among individuals and families seeking a blend of convenience, shared resources, and a sense of belonging within a well-maintained community.