Could a Condo be a Good Fit for Me? Generally speaking, when people think of purchasing a home, oftentimes a condo isn’t at the top of the list. Single Family homes and even duplexes seem to be the “go-to.” But what if you’re missing out by not giving a condo a chance? There are many perks to owning your own home, regardless of if you decide to purchase a single-family home, townhouse, condo, etc. We are going to take a look at why a condo may end up being the perfect home for you.
First are foremost, one of the most commonly known perks of owning a condo is maintenance assistance. Unlike owning a single-family home, condos often offer a variety of maintenance to the homeowners at no additional costs (your monthly HOA allows for this to be possible). For most people, a big perk to this is the roof! Roof leaks are one of the biggest homeowner costs that can come unexpectedly, however, most condos have roof protection and responsibility clause written into the HOA’s that allows the homeowner to be free of any roof repair responsibilities. Be sure to check your HOA’s to see what maintenance could be included for you!
We all love amenities, am I right? This is another huge bonus when purchasing a condo. While not all condos include amenities, most do which gives you quite a bonus. From swimming pools, nightly security, lounges, and even parks, it is easy to see why this is such a perk for homeowners
While in the past it was a well-known fact that condos did not appreciate in the same way or at the same rate of single-family homes, this is changing. Condos have become a very popular home choice for multiple generations which has made them a hot commodity on the market and therefore has allowed them to raise their value at a faster rate due to supply and demand. The fear of losing money on purchasing a condo is no longer worrisome as it could have been 10 or even 5 years ago.
While condos are appreciating at a faster pace, they are still more affordable than a single-family home. This is a great option for first time home buyers who are looking for a home on a budget!
With condo popularity on the rise, be sure to have your buying agent check all the communities in your area to see which condominium will be the best fit for you and your wants and needs. Once you’ve found the perfect place to call home, sit back, relax, and enjoy the perks of being a homeowner!
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