What every Seattle homeowner should know

Seattle’s housing market is evolving, and condoization is emerging as a popular real estate trend. This process involves converting existing single-family homes or multi-family buildings into individual, separately-owned units. While condoization can increase housing density and create affordable living options, it’s essential for homeowners to understand the process and its implications.

What is Condoization?

Condoization is the legal and physical process of dividing an existing building into multiple separately owned units. It can involve converting a multi-family property or even dividing a single-family home into smaller, independent units.

Why is condoization popular in Seattle?

  • Increased housing density: With Seattle’s growing population and limited housing stock, condoization creates more housing options within existing structures.
  • Affordability and access: Rising property prices make smaller, independently-owned units more attainable.
  • Revenue generation: Homeowners can sell or rent individual units, boosting property value and generating income.

Legal and zoning considerations

  • Zoning requirements: Condoization often requires a zoning change or variance.
  • Seattle’s Condominium Act: This law governs fees, shared responsibilities, and ownership rights.
  • Permits and approvals: Multiple permits are needed, including construction and legal division permits.

The condoization process in Seattle

  1. Consultation and feasibility study: Evaluate if condoization is possible based on zoning and building codes.
  2. Property evaluation: Ensure the property meets structural and legal requirements.
  3. Legal division: Draft the condominium declaration outlining property division and ownership rights.
  4. Public notice and approvals: Obtain city planning department approvals and notify neighbors.

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