If you’re thinking about buying a condo instead of a home, chances are good you are weighing the pros and cons of such a purchase.
To help you make you decision that much easier, we have compiled a list of the 3 key reasons to purchase a condo.
Even if your condo does come with a bit of green space, chances are good that you will not have to worry about the upkeep. The reason why is because you will be paying for that in the form of dues to your condominium association.
That money that you pay will help fund the maintenance needs of both the building – to make sure that the lobby, stairwells, garages, gyms and other public areas remain clean – and of your private property. It can make your day-to-day life a whole lot easier as it reduced the amount of chores that need to be done to keep your home clean and orderly.
It’s cheaper than buying a home
The cost of a condo compared to a house of course depends on the size of the home, the value of the neighborhood, and the cost of living in the area. That being said, it is quite typical for condos of comparable size and location to cost less than their standalone home counterparts. ‘
One major reason why people have focused on homes over condos in the past is because homes have historically appreciated in value faster than condos.
That tend, however, may be starting to change.
Richard of https://www.myrtlebeachcondoforsale.net/forest-dunes-resort/ breaks down what trends of home sales and condo sales are predicting in the future:
“Research conducted by a popular realty marketing site have shown that condo market values have climbed by a whopping 38.4 percent from February 2012 to February 2017. In that same time, single-family detached homes have appreciated by 27.9 percent during that same frame of time. Clearly, the resale value of condos are starting to benefit owners in a massive way.”
There is a strong sense of community
When it comes to moving to a new city or town, where you know very few people or perhaps no one at all, purchasing a condo can be a great way to get an established community where where you live.
Many newer condo complexes not only encourage you to build a community within the building, they make it easy and accessible from day one.
It goes far beyond just passing people in the hallway and standing alongside your neighbors in the elevator. Many condo management groups hold pool parties, barbeques, and other paid-for experiences where you can meet and get to know your neighbors.
It can be hard to move to a new city all on your own. If you are worried about your ability to make friends at work or through other activities and interests that you have, a great way to easily make some friends could be picking the right condo complex to live in.