A condo, short for condominium, is a type of housing where individuals own their specific unit within a larger building or complex. Each owner has the title to their unit, while common areas, like pools and gyms, are shared among all residents. This setup allows for a community feel while still providing personal space. Living in a condo often comes with benefits such as lower maintenance responsibilities, as the homeowners' association typically handles upkeep of shared spaces. Condos can be found in various locations, making them popular choices for young professionals and retirees looking for convenient living options.