As most people know, condominium owners are sole owners of their home—either a unit in a multi-unit building or a stand-alone building—but joint owners of the land on which the condominium sits. Condominium bylaws specify such things as the amount of maintenance fees; frequency of community meetings; regulations for use of common grounds; processes for resolving owner disputes; and building specifications and restrictions.

There are condominium projects throughout the Central Valley and also in many beach communities. Those by the beach naturally tend to offer the resort-like amenities that appeal to vacationers, while condominium projects in the Central Valley are generally designed with the permanent resident in mind. If your plan is to buy a condominium in order to generate rental income, then you will want to investigate occupancy rates in your target area. (Note that condominium prices—and rental prices—tend to be higher on the Pacific coast than in the Central Valley.) A common strategy for people who buy condominiums as an investment is to buy prior to construction, since pre-sold condos are offered at a discounted price.

Bear in mind that condominiums come in a wide variety of styles and prices; you have a similarly wide range of options when it comes to the legal structure of the condominium project, the size of the project, and whether or not it shares its grounds with a hotel resort complex. Below the author describes several condominium projects to give you a concrete look at the range of options.