There are so many benefits to buying a condo and downsizing from a house or upsizing from an apartment. Condos offer all the benefits of an apartment complex such as security and maintenance, while lacking all the hard work of a house like lawn care and unused space.
Condos are rising in popularity in the housing market with the Baby Boomer generation wanting to downsize their living spaces. They are great for many different family structures whether you’re a first-time buyer or a recent empty-nester.
If you are on the fence between a house or a condo purchase, here are some of the top benefits to buying a condo.
Condominiums, or condos, are a hybrid between an apartment and a house. You purchase and own the property and residence within a larger communal property. Many times they are set up similar to an apartment complex so owners will share a wall with a next door neighbor or your floor will be someone else’s ceiling.
With their rising popularity, the current costs of condos are appreciating at a rate higher than any other living space. However, they continue to remain more affordable than a home for many buyers. The price and ability to rent it out is one of the most significant benefits of owning a condo.
There is an extensive list of benefits to buying a condo. Our team of experts know the market and can help anyone buy or sell their condo property easily. If you are on the fence of whether or not to buy a condo, our team can help you discover if it is the right space for you.
One of the most in-demand benefits of owning a condo is the shared spaces that you have partial ownership of. These can include fitness centers, swimming pools, and manicured grounds. Owners of condos contribute monthly to their communal space for these amenities.
Many condo spaces have great security. To add to the sense of privacy and hominess, as well as protect the property and members of the condo community, gates and entries are locked to non-members. Some spaces have doorkeepers or security professionals for residents as well.
Condo spaces are also a community, meaning members look out for each other. Along with the official security features, living in close proximity to a number of people can help in the case of an emergency and reduce the likelihood of breaches given the number of watching eyes.
Because they are communal spaces, condos are often more affordable than a single-family house. Instead of needing to buy the acres of land that come with the living space, one of the benefits of owning a condo is the lack of private property. This is especially true in large cities or beachside towns.
Unlike home buyers, condos often come pre-furnished with appliances in the sale. In some cases any damages to the appliances are covered or insured by building maintenance, a huge advantage compared to homes. It is much more affordable than a house purchase because not only is it pre-furnished, but you also don’t have to worry about updating the appliances in time for sale.
One of the absolute biggest benefits of buying a condo is less time and stress afforded to maintenance of the land. Along with the purchase of the property, many condo communities have maintenance workers who do the hard work for the members. This includes mowing the lawn, cleaning up trash, and gardening.
In neighborhoods it can be hard to feel like there is a community around you. People generally stay in their homes among their families, making socialization difficult. The closer living quarters in condos facilitates a much closer sense of community, which is immediately apparent when you step into the shared spaces and take advantage of all the amenities.
Neighborhoods are often located in more remote or suburban areas because of the need for space to construct each house. On the other hand, condo communities are built like apartment complexes with living spaces built upwards, similar to a high-rise. This means they can be located in more dense areas and have closer proximity to entertainment and business districts. This lends itself to more things to do during the days and nights without needing to uber or walk long distances.
Even though there are plenty of benefits to owning a condo, it is imperative that you consider hiring a local condo expert before diving headfirst into buying one. Experts know the market and can help you find the best deals for your needs and desires.
A local condo expert can provide an unbiased look at your condo and your prospects. They can make your search easier, helping you to find only the condos that fit your needs and desires on your wish list.
The benefits of buying a condo are numerous, but it is important to continue weighing them against your living needs and desires. It can be difficult to find the right expert in Arlington despite the high condo market. That’s where we can step in to help.
Our experts in Arlington, Virginia have extensive knowledge about condo living and expenses. We are here to guide you through the process of finding condos that are the right fit for you. Along with our experts, we recommend talking to friends or family members who may already live in condos. They can share their real life experiences and help you make your decision.
If you are ready to dive head first into the wonderful world of condo living, book a call with our team today! We are here to help you navigate the market, buy and sell condos, and understand all the details of the condo marketplace.