Condos are popular right now and it’s easy to see why. There are lots of reasons why a condo might be right for you, even if you hadn’t previously considered one. We’ve listed some of the key benefits of owning a condo and created a free buying checklist that you can download to help you make a decision.
- You’ll Have Access to Amenities
- There’s a Welcoming Community
- Find the Perfect Location
- Never Worry About Maintenance Again
- They’re Safe and Secure
- A More Affordable Option
Condo owners have access to luxury amenities that homeowners don’t. Something like a gym or a swimming pool might be too impractical for a home because of costs or available space. Condominiums often have amenities that residents can access, like tennis courts, golf courses or even beaches. You’ll be required to pay towards the upkeep of the amenities, but you’ll have access to amazing facilities that you otherwise wouldn’t.
In a condominium, you’ll quickly get to know your neighbors. If you’re a social person, then you’ll love being able to grab a coffee with someone that lives nearby. Because everyone contributes to the upkeep of the complex, everyone takes pride in it. This means the area is a fantastic place to live.
You’ll also be safe in the knowledge that there’s someone around to keep an eye on your condo. Maybe you’re out of the country and you just need a neighbor to check that everything’s okay. Some condos have an onsite management company. With a condo, there’s no shortage of friendly neighbors or management offering to help.
It’s difficult to find a private home that’s close to the beach or the city center that isn’t too expensive. You have to choose between a smaller home that’s close to the city or a large home that’s a long commute from everything. This isn’t an issue with a condo.
Condos are typically located close to luxury locations, like the beach. This means you’re close to bars, restaurants, shops, nightlife and more.
Condo residents pay HOA (Homeowners’ Association) fees each month. This can seem like a disadvantage to owning a condo but these payments go towards the maintenance of the complex and its amenities. You’ll never have to clean the pool, mow the grass or reapply a coat of paint - it’s all taken care of for you.
If you’re looking for a place to retire in and you’re downsizing, then the last thing you’ll want to worry about is maintenance. The HOA condo fees are a small price to pay for the free time you’ll have to enjoy other pursuits.
Condominium communities are generally very safe as many have round the clock management representatives and security present on site. Other residents also tend to keep an eye on neighboring condos when they are not occupied.
Even with the HOA fees to think about, a condo is a more affordable option than buying a home. If you’re worried about your budget, then a condo could be the choice for you. Especially as you’ll have access to amenities.
If you’re considering a rental property, like an apartment, then your property could also generate income for you while you build equity and take advantage of tax deductions.
When renting an apartment or house, you’ll be restricted by the landlord’s rules and regulations. You might not be able to decorate rooms as you’d like or keep pets. When you own a condo, you have more freedom to do what you want.
You’ll need to run some changes by the Homeowners’ Association who are in charge of the complex but as long as your demands aren’t ridiculous or offensive, you should be fine.
This isn’t the case with a condo-hotel where all the rooms tend to be the same, like a hotel, to make them easier to market to hotel guests. Here freedom comes in a different way as the hotel team and management company will take care of check in and check out, rental marketing, grounds upkeep, repairs and maintenance for you. That way when you visit yourself you are free to sit back and enjoy your vacation.
Download the Condo Buying Checklist Now
The Condo Buying Checklist has all the information you’ll need if you’re thinking about buying a condo. It covers everything you should think about before committing to a decision.
Once you’ve decided if a condo is right for you and the reasons for buying one, the checklist can make the buying process a smooth one. It will help you to find a vendor and the questions you should ask when you carry out visits.
To receive your free copy, click the download link below.