Practical guide for (future) co-owners
What to do before becoming a co-owner? A practical and comprehensive guide to co-ownership, in cooperation with the Royal Federation of Belgian Notaries.
What is it about?
Buying your own home is the dream of many people. This dream may take the shape of a flat or studio appartment. In that case, you are not simply buying your own home. In Belgium, you will also become co-owner of the building in which the apartment is situated. Would you like to carry out work on the building? Then, you will have to consider the other co-owners of your condominium – la copropriété in French or de medeigendom in Dutch. These are the owners of the other flats in the building, whether they live in them or not. Your condominium may also include lots which are occupied by shops or offices, rather than residential accommodation. When buying a flat, you are not just buying your own home, you become a member of a community.
Life in a condominium is not always as easy as you expect. Managing a building with people you have not chosen can be an arduous journey. It is not always easy to predict the costs and to assess whether building works are warranted. Regulations and standards further complicate matters. Not to mention concerns over sustainability and energy efficiency. To avoid problems, you will need to get involved and take a certain amount of responsibility.
When buying a flat, it is essential to always be aware of the collective aspect of co-ownership. It helps to be well prepared in advance. This publication can help you on your way.