Everyone dreams of owning a place of their own one day, of getting out of the cycle of renting and being free of the mentality that renting is basically the same as burning money. But while you may be eager to leave your apartment and immediately start searching for a detached house, consider investing in a condo. Take a look at these four reasons why a condo may be the better choice for you.
Condos are significantly less expensive than houses, but it all depends on your area as well. However, not a lot of people have a lot of money when they’re looking for their first place, but a condo makes a great place for them to start. Condos come with a smaller down payment, which of course leads to smaller monthly payments and smaller bills as the square footage of a condo is not as grand as a house.
Maintenance and Repairs
The only repairs and maintenance that condo owners have to deal with is anything that happens on the inside of the condo. Exteriors are taken care of by the strata or other organizations that oversee the upkeep of the condo building. Therefore, owners are not required to mow lawns, trim hedges, clean out gutters, or power-wash grime off of the sidings of their home, which leaves a lot of time and money that can be spent on other things.
Condos are often centrally located and surrounded by everything that an owner could ask for. Particularly condominiums that are in the downtown area, owners are steps away from shops, restaurants, theatres, and public transportation. Being close to all these places also opens up job opportunities and quicker commute times, versus a homeowner who may be far from these things and living in the suburbs.
Condos are often packed with additional perks that come with the residence. Amenities such as gymnasiums, swimming pools, steam rooms, yoga studios, community gardens, and many more may be available to you free of charge without ever having to leave the grounds. Although richer homeowners may have some of these, they come at a cost, and a house with a pool needs to be maintained and have money put into it, vs condo owners not having to deal with any of the care of the amenities listed.
Although houses are deemed as the end game for most people, there are so many reasons why a condo is suitable for a small family and the better investment. Still unsure though if a condo is right for you? Consider renting one for a year to see if the lifestyle fits yours without putting in a large money commitment. If this article sold you on getting a condo, consider Cleveland Gardens as your next great adventure. We can’t wait to have you here.