Why Condos are a Good Investment

Why Condos are a Good Investment

The popularity in purchasing condos over single-family homes has steadily risen in recent years with no sign of slowing down. If you have been considering a new piece of real estate to call home, you surely have been weighing your options regarding condos and houses, but perhaps aren’t convinced one is better for you than the other. Let’s examine some of the top reasons why purchasing a condo might be the best housing fit for your lifestyle.

Minimal Responsibility

Purchasing a condo can be an ideal fit for a buyer interested in a home that is move-in ready. Boasting a convenient and low-maintenance lifestyle, condos are an appealing choice for anyone who is too busy for, or simply uninterested in, the effort that goes hand in hand with owning a single-family residence.

Perfect for those who don’t like DIY

If you’re not particularly handy and the idea of physical labor or making DIY repairs and upgrades to your home makes you feel uncomfortable, owning a condo may be the perfect solution for you. Maintenance is generally limited to the interior of a condo, while the condo association fees you pay will take care of the exterior and many structural components. Of course, one of the biggest draws for many people is the fact that they won’t have a yard to take care of, saving both time and money.

Sense of Community

While you may get to know your neighbors if you live in a single-family dwelling, the higher number of residents in most condo buildings and communities means your chances of interacting with your neighbors considerably increases, from walking your dog to picking up the mail, which can be a great opportunity to familiarize yourself with your community and even make some new friends. If you enjoy being social, this could be perfect for you!

Save Money

Generally speaking, you will pay more for a single-family home than a condo containing the same number of square feet when in the same type of condition and in the same area. This is an especially important selling point for first-time buyers or those on a budget.

Extra Amenities

While amenities vary greatly between condo communities, there are often extra perks that could make your life a lot more convenient or comfortable, with some properties that are downright resort-like with pools, fitness centers and sometimes even party rooms, all of which would be significantly more expensive to build or maintain in a single-family home.

Location!

The fact that many condo buildings are located in the most popular areas means you could end up living in an amazing neighborhood you may never be able to afford otherwise, often within walking distance to restaurants, bars, shops and more.

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