Many people prefer to live in a real house.
For them, living in a house gives them the most comfort that they won't find in any other type of residential property.
These days, however, a growing number of people choose to live in a condominium.
This type of residence normally attracts the modern folks who really don't mind living in a building regardless of how high this may be.
In fact, one of the attractions of the condo is the fact that owners can choose on which level to stay.
Some even want to be on a higher story in order to get the best view of the area as much as possible.
In Virginia, the city of Alexandria is one area that boasts of great condominiums.
Although sales of condos have been experiencing slight fluctuations, more condo units are still being bought.
For this year 2010 alone, some 678 condos have already been sold since January.
Areas where you can find the most number of condominiums for sale are Cameron Station, Alexandria Knolls West, Carlyle Towers, Olympus, Pointe at Park Center, Parkfairfax, Potwomack Crossing, Watergate at Landmark and EOS Twenty One.
Depending on the size of condo unit you want, the average price ranges from $230,000 for a one-bedroom unit to $393,000 for a three-bedroom condo.
Residential condominiums in Virginia are regulated by the Virginia Real Estate Board.
Since 1993, property owner, cooperative and residential condominium associations are required to file a yearly report and pay fees to the board.
When purchasing a condominium unit, the real estate law in Virginia gives the potential buyer a 10-day period during which he or she can decide to cancel the contract of sale and get a full refund of any amount deposited to a third party of escrow agent.
During this time, the buyer is encouraged to check the entire condo unit and get professional advice.
In the event you decide to cancel, you need to provide a notice of cancellation to avoid any problems.
Newly purchased condo units also require registration with the Virginia Real Estate Board.
An application form is needed and should be submitted to the board together with the other required documents.
A certain fee also has to be paid upon filing of the application for registration.
The next step is for the board to do an inquiry and investigation.
Should certain requirements are not met, the board will grant an extension to allow the condo owner to accomplish the other documents.
All these regulations have to be followed regardless whether you're buying a condominium which you'll make as your home or just for investment purposes.
If you're interested in getting a condo unit in a strategic location but are not sure on where to find a good one, you may want to consult with a real estate agent or hire the services of an agent.
Ask for referrals from people you know in the area who may have worked with an agent before or who knows a reliable one.
And be sure to learn all about the condo regulations in the area to keep you in the loop.