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[Pros] Amenities: Most condominium developments offer a range of amenities in the common areas. This means that you may have access to a swimming pool, gym or tennis courts that you would not be able to afford on your own. [Cons] 
Rules: Condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, pet ownership, renovations, and even what kind of curtains you can put in your windows.
Condo Living | Mortgage Articles
Cons