Did you know that condominiums are one of the fastest growing segments of the housing market? Owning a condo is perfect for those with busy lifestyles, little interest in home maintenance or landscaping chores or who frequently travel. Condos are a fine choice for a first home or when downsizing from a larger house.
Here are some pros and cons to consider:
Condo:
· Fewer maintenance requirements.
· Usually less expensive than a single family home.
· You own the space inside the walls.
· There can be more security with neighbors close by.
· The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.
· Special assessments by the association for painting or repairs can be a substantial added expense.
Single family home:
· Usually offers more storage space.
· You own the interior as well as the exterior.
· You are responsible for all maintenance, landscaping and repairs.
· You usually don’t have to pay community dues or special assessments.
· You have room to grow plants, flowers, trees, veggies, etc.
Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?
For more information about real estate options in our market, call or email us. We’d be happy to provide you with that info via email or we can show you what is available.
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