Can someone help me understand. I don't have good knowledge of it. But to me you have to pay a monthly HOA fee because you own rooms inside a building, but don't own the land that the building is on, or the entire building, and are not responsible for the parking area, snow removal, lawn care etc.. You are not able to modify the Condo (?) like install wood floors? A condo just seems like a long term apartment from my perspective, with the benefit of selling it at the end. But I don't see why anyone would want a long term condo when they could just rent an apartment. I understand renting an apartment instead of purchasing a house if it's for a short term use, or don't make enough to purchase a house. But anything more than 4-5 years seems silly to rent when you could buy. If you pay 12k in rent over 5 years, that's the cost of a very cheap home that's perfectly livalbe. Like I see some stick build houses as low as 40 k and plenty 50k - 70k. Yeah you'll probably have to put some money in the up keep and so forth, and a whole bunch of other drawbacks. But if spending a month of rent is equivalent of about 1/4 or 1/5 of a very cheap home than I don't see why it would be a good choice if you can live there for 5 years or more. Yeah I basically don't understand Condo's because they appear to me to be basically long term aparments with monthly rents in the form of HOA fees. I have very limited knowledge, can anyone share?