Home sweet home.
What immediately comes to mind when someone says those words?
Do you think of the traditional American house with the white picket fences? Or maybe your idea of a home is an apartment? Perhaps a condo?
Size-wise, an apartment and a condo are about the same, it is smaller than a standalone house. The main difference is the ownership.
Apartments are rented, while condominiums are purchased. Now, if you’re thinking of owning a condo, the good news is there are plenty of benefits to it. That said, here’s a list of reasons you should own a condo.
1.Access to Amenities
One of the benefits of a condo is access to amenities like gyms, swimming pools, tennis courts, golf courses, etc.
While homeowners can opt to build a pool or set up a home gym, it’s not always possible for those with a limited budget or space. Of course, these amenities don’t come for free. The more these condo features, the higher the monthly HOA (homeowners’ association) fees.
You also don’t have to worry about the upkeep of these amenities. The maintenance of these facilities is the responsibility of the HOA.
2.Security
Another thing you can file under condo advantages is safety and security. Besides secure entrances and surveillance cameras, most condo buildings will have security guards to keep an eye on residents and the property.
For those who live alone, this is fantastic news. Also, if you’re lucky to be part of a welcoming and friendly condo community, you don’t have to worry about your unit while you’re away. Other residents are likely to watch over nearby units in the spirit of good neighborliness.
3.Cheaper Insurance
When you own a home you need to ensure everything–what’s inside and outside of it.
If you own a condo, your coverage responsibility extends to what’s inside your unit. Your monthly HOA fees will cover the rest.
If you have concerns about future repairs, getting a separate condo home warranty is a great idea. After all, some fixes can be pretty expensive. Planning and getting the right plan now will ease most of your worries if something in your unit breaks down.
4.Maintenance
“Why own a condo?” is a question those who want to downsize from a larger home often ask. As beautiful as big houses are, they’re challenging to keep clean, but if you live in a condo, your chore list immediately becomes shorter.
That’s because your HOA fees also go towards lawn maintenance, snow shoveling, cleaning of hallways, etc. You’ll still take care of your unit, meaning you’re in charge of keeping it clean, but since you have a smaller space to deal with, you’re not going to be as tired compared to cleaning a huge home.
5.Other Reasons to Own a Condo
Living in a condo means interacting with others, so if you miss having neighbors, you’re going to love the condominium lifestyle. Whether you encounter them in hallways or other communal areas, you’re going to feel a real sense of community.
Proximity to entertainment and business districts is another advantage of condo living. If you like going out, bars and restaurants are often within walking distance. The same goes for jobs.
If you find one near your condo, you no longer have to worry about parking space or long commutes.
Should You Purchase a Condo?
The decision to own a condo is a big one. Take your time before you downsize or move from an apartment.
Feel free to check our other posts for more related tips and advice.