Why Rent When You Can Buy a Condo of Your Own?

If you're looking to move into a new home without the maintenance headaches of a traditional single-family property, you may be tempted to rent an apartment. At first glance, it's an appealing prospect; maintenance is handled by your landlord and you don't have to worry about the vagaries of the real estate market.

However, one of the biggest arguments for home ownership versus apartment rental is accruing equity. After all, you don't get any lasting return when you pay monthly rent. An investment in real estate is always an attractive long-term option. Fortunately, for those wanting the minimal upkeep of living in a smaller space, buying a small condominium is a more attractive option than ever before.

Condominiums offer the best of both worlds in terms of freedom and maintenance. Living in an apartment carries with it rules and restrictions regarding renovations and alterations. But when you buy a condominium, you have much greater license to make changes to its interior. At the same time, you're afforded communal amenities that are seldom features included in a single-family property – exterior maintenance and landscaping, swimming pools and fitness facilities, community areas, and security systems. And condominium living also minimizes the hidden costs that come along with home ownership like lawn equipment and large monthly utility bills.

Another attractive feature of condominiums is that they are often located in vibrant urban neighborhoods near restaurants, shopping, and attractions. Innovative developers are finding ways to build contemporary, inviting condos in the heart of the most sought-after urban centers, minimizing commutes while maximizing community. At the Gordon's Woods condominium development in West Roxbury, residents enjoy floor plans that blend traditional finishes with modern, open layouts. With a handful of one-bedroom condos still available for sale, upscale modern features have lent to the development's huge success.

Newer condos might offer some very appealing innovations. "One of the unique aspects of our Gordon's Woods development is that it is Energy Star Certified. Residents can feel good about living in a sustainable, green environment," says John McGrail, CEO of Mayo Group, the real estate firm that developed the property.

With the popularity of energy efficiency on the rise, Gordon's Woods is an attractive option to residents who want to enjoy the advantages of modern living in a desirable location while feeling good about their lifestyle – all while reaping the benefits of ownership and avoiding the potential pitfall of a personality clash with a landlord.

"Our residents' interests are in the hands of a professional management team and they can be assured that they will have a positive experience living at Gordon's Woods," says McGrail. "We can offer the best of both worlds in terms of building equity via property ownership while giving our residents the security and service that comes with condominium living."