A form of property ownership where an individual owns a specific unit within a larger building or complex and shares ownership of common areas with other unit owners.
Condominiums are governed by an HOA that manages shared spaces, enforces community rules, and collects dues from all unit owners. They are popular in vacation markets because they often come with resort-style amenities — pools, concierge services, beach access — that would be prohibitively expensive for a single-family home. Buyers should carefully review the HOA's financials, reserve fund, and rules before purchasing.
GoForth, a luxury co-ownership company, offers co-ownership in both single-family homes and condominiums across premium vacation destinations. When a GoForth property is a condo, the four co-owning families share both the unit's purchase price and the ongoing HOA dues. GoForth handles all interactions with the condo association so owners can focus on enjoying their 12 weeks per year rather than navigating HOA politics.