If you live in a larger city and want to own your own home for you and your family, then you may have considered buying a condo over renting an apartment or seeking a home on the outskirts of town. There are a lot of useful perks to owning a condo, including less worry over yard work responsibility, access to amenities you can enjoy in apartment living, and being able to be in the heart of the city while still being able to afford your own home rather than renting. Here are things you need to know before you go condo shopping so you can make an informed purchase.
You will likely have to join an association
A condo association often comes with the purchase, and is the way that the property runs most efficiently. The purpose of a condo association is to ensure that every person who buys property within the enclosed unit follow the same rules regarding keeping the property clean, respecting fellow condo owners, and follow noise allowances.
You will likely pay a fee to join the association and will have responsibilities to follow as a condo owner, such as keeping the exterior of your property (door, entryway, and balcony, if applicable) curfews for noise, and rules regarding pet ownership or even having overnight guests. All these stipulations are designed to make your everyday living and the lifestyles of those around you more comfortable. It's important to have a real estate agent explain condo association regulations to you as you go condo shopping.
You can gain access to great amenities
Many amenities that come with apartment living can be yours with a condo, including pool access, community playground, workout facilities, and even an on-site laundry service. Some condos even have parking attendants who will park your vehicle for you in your gated parking area. You also get to enjoy the safety of on-site security personnel who can address various complaints and safety issues. Another great perk of buying a condo is that you don't have to worry about mowing your own yard or shoveling your walkways, since the condo association you will be part of will cover these maintenance issues for you.
It can be cheaper than buying a home
In many cases, buying a condo in a larger city is much cheaper than trying to buy a home in the same area. This can make condo living the most beneficial of all. You can gain access to schools, nearby shops, your job, and more while still being able to own your own property in a bustling location. Discuss your budget with your real estate agent so you can compare available residential property for sale to help you make your final purchasing decision.