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Advantages of Buying a Condo
One of the biggest reasons why people consider buying condos is that they can often be more affordable than buying a home. Take a look at some of the pros of owning a condo below!
Flexible Living
A mid-sized condo is perfect for buyers who want to downsize from a larger home or who don’t want to spend a ton of time maintaining a house. A smaller space provides more freedom for residents who want to spend time traveling or enjoying their city instead of constantly working on home improvement.
More Affordable Than Single-Family Houses
In larger cities or beachfront locations, a condo can be much more affordable than comparable houses, making it a less intimidating buy for first-time homeowners. In some cities, owning a condo is often cheaper than renting an apartment or buying a townhouse.
Cheaper Insurance
When you own a condo, your homeowners insurance only needs to cover the inside of your home, as your monthly HOA fees will help insure the building or complex you’re in. A house, however, requires insurance for inside and outside. This means your condo insurance cost will often be cheaper than the insurance needed for a house.
Great Sense of Community
Most condo buildings and complexes have communal spaces, such as kitchens, patios, or rooftops, where residents can get together and get to know one another better. In addition, condo communities usually host fun events for residents like movie nights, game nights, wine tastings, cookouts, and more.
Proximity to Entertainment & Business Districts
One major advantage of condo living is that condo buildings are typically found in or around downtown areas, so residents have great access to nearby entertainment and business districts. This means living within walking distance of employers, restaurants and bars, public transit, major attractions, and tons of events.
Top-Notch Amenities
You don’t have to live in a luxury condominium to enjoy nice amenities. Most condos have community spaces like a pool, rooftop terraces, or a fitness center, which you can use without worrying about the upkeep. Some condos even have tennis courts or spas! Keep in mind that the more amenities a condominium complex has, the more your HOA (homeowners association) fee will be each month.
Appliances Included
When you buy a house, you often have to buy appliances like refrigerators, ovens, and washers and dryers. Of course, these appliances can be included in the sale, but you’ll have to update them in the future if you want to sell your house. Most condos come pre-furnished with these appliances, and in some cases their repairs can be covered by building maintenance, which is a major advantage.
Covered Maintenance
Condos offer residents the opportunity to embrace homeownership without the hassle of yard work, snow shoveling, or home repairs. Building hallways, entryways, and community spaces are also taken care of by a cleaning or maintenance staff, so you only have to worry about your living space.
Good Security
Most condo buildings have secure entrances and surveillance cameras, and some even have security guards or doormen who keep an eye on the property. This is especially great for those who live alone.
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