Condominiums can be the perfect solution for some when searching for a new home. However, it might take some thoughtful considerations to avoid making a mistake that could end up being costly. It's important for buyers to take a look at both the good things about a condo along with issues that might need more thought. Read on to learn more.
Condo Living Can Be Wonderful
- If you are looking at the least expensive way to gain square footage with a home, a condominium may be the way to go. Compared to single-family homes, condominiums may cost less for the same amount of space. Along with that big perk, condo living might also mean:
- You probably won't need to worry about doing any yard work. The often beautifully manicured grounds surrounding your building are the result of a crew of maintenance people. If you long to do a bit of planting, though, you are likely to have a balcony for some container gardening. Some condos also offer residents a community garden to take part in.
- It's not just yard work that you won't have to worry about. Common living areas and the outside of your building are places that are not your responsibility to maintain. That means no painting, cleaning, pressure washing, window washing, etc.
- Most condominiums are quieter than an apartment and those on the upper floors may be even quieter than a single-family home. Condominiums are often constructed with thicker walls and fire protection barriers that deaden sounds between the units and between the floors.
- Depending on your own interests, you can probably locate a condominium complex that fits your needs and wants. Some are geared toward young adults and some seem to be custom-made for retired people. Ask your real estate agent to steer you toward the best choice for you.
As Long As You Consider These Issues
Be sure you don't sign anything without understanding the CCR. The conditions, covenants, and restrictions provide all residents with a set of rules to follow. More importantly, though, the CCR details the financial aspects of condo living such as the fees and what they are allocated for. You can also learn about the governing body of the complex, meetings, and more. One last bit of advice is to make it a point to learn about the hidden issues a condo might have such as maintenance and safety concerns along with any legal actions being taken against the community by checking things out with your agent.
Find out more by speaking to a real estate agent about properties for sale in your area.