If the idea of home ownership is something you have been dreaming about, a condo may be the better choice for you in the end. Every kind of property has advantages and disadvantages, and you may find that condo living will actually do a great job at meeting the needs that you are looking for in a home. Consider these 4 things.
Maintenance Is Covered For You
Are you the kind of person that has never been handy when it comes to repairing things, or are you scared at the idea of needing to act quickly to fix problems like a leaking roof? If so, then a condo may be best for you. When it comes to exterior maintenance and repairs, such as landscaping, tuck pointing, painting, and other construction work, it is all done by the HOA with the fees that they collect.
Additional Security and Safety
When you live in a detached single-family home, it means that your home is isolated from others. If someone breaks into your home, neighbors may not even be aware that it happened. Condo communities have plenty of nearby neighbors, which makes them safe communities for living in. Some condo buildings even have doormen that monitor who comes in and out of the building, which acts as an additional layer of building security you can't get with a house.
Amenities Are Provided
Have you always wanted a swimming pool? Or a full gym with a variety of exercise equipment? If so, it is not very practical if you have a detached single-family home. Community living makes these amenities possible thanks to HOA fees that are collected, with everyone contributing to purchasing and maintaining the amenities.
The Right Price
When buying your first home, you may feel wary about purchasing a house that is well above your means. You could find yourself with a mortgage payment that is too big for your current salary, and have difficulties keeping up with the payments. Condos are going to be cheaper overall, and can be a great starter home for someone on a lower budget. You can always sell your condo later on when you are ready to purchase a home.
While condos sometimes don't have the best reputation due to a lack of a yard and shared walls, these advantages can really make a condo a great choice for those looking to stop renting and build equity in a home they can call their own. Work with a real estate agent to find the best condo for you.