Why would you want to live in a condo instead of a house ? Actually, there are a number of reasons, including convenience, cost, and the upgraded size of an apartment . Let’s look at five advantages of living in a condo over any other type of home.
First, you don’t have to handle the repairs or landscaping. Yes, you have to pay an association fee or an annual homeowners fee, but your roof, siding, landscaping, and all snow removal are covered. That saves you the headache of finding the right contractor and getting the funds to get the job done. Repairs in common areas are also taken care of, so you can enjoy your home without the list of what is needed.
Second, you are often in a great location for the price you would expect from a suburban home. The condos are often located in ideal places in the city, close to shopping and entertainment districts. It’s often right on the main metro or tram lines, so getting around is as easy as cake.
The price of your condo is what you could pay for a “top repairman” in a lesser neighborhood or in the suburbs. A house out there is far from where you work and where everything is happening. And think of the views of the city! You can’t get those in a suburban location.
Third, you have something, instead of renting . Not only are you building equity in a property rather than renting it out, but you can also turn things around. If you want to rehabilitate your kitchen, you can. Do you want a new shower? You do not have to get the owner’s permission to do so. External changes must go through the HOA, but the interior is all yours.
Fourth, the community you are a part of when you own a condo is harder to find in a housing development. If you live in the high tower, you often have a security guard at the entrance so you know you are protected. Your neighbors are close by to keep an eye on things if you’re away from home Or, you may need to care for someone who needs help 24 hours a day. In a condo complex, there are many people around who take care of each other.
Lastly, you get all kinds of bonuses that you wouldn’t have otherwise. Many condo communities have gyms, swimming pools, basketball courts, and other sports facilities. You could even rent the condo facilities if you are looking for a place to host a special party or other event.
As with any home purchase, you should evaluate what you are looking for in a home before deciding on a condo. However, as we have seen, condos can be very convenient and very inexpensive. If you are an empty nester and don’t need a lot of space, a condo is just for you. Do you want to be in the heart of everything? Consider a condo.