The Condo Life

A good number of first-time homebuyers are opting to buy a condominium. But is the condo lifestyle right for you? There are several things to consider when looking into buying a condominium unit.

Condominiums are great for people buying their first home and for those looking to downsize once the kids have moved out. Condominium associations can be useful because they take care of so much, like exterior maintenance, roof repairs, and master insurance. This is ideal for individuals and couples who want fewer responsibilities in home ownership. First time homebuyers generally are more comfortable with this safety net. Older couples also like the idea of shouldering less of the load. Condos are attractive because they tend to cost less per square foot. The ability to hold on to a condo unit and renting it out in the future also makes the purchase of a condominium more attractive to younger buyers looking at the long-term. 

Condos are not for everyone though. Each association has their own rules, from pet restrictions to condo dues. These dues are usually collected monthly and are used to pay for anything that the association covers, like snow removal and common utility bills. The more an association offers, the higher these dues are. Some people also dislike living in the same building as other homeowners because it makes it feel less like their own home. Others find the community aspect of condo living refreshing. 

Whatever the case, condos are a great option for many people. It's best to learn everything about an association before buying a unit. If you have any questions relating to the condo life, or anything about real estate, feel free to send an email to ryan.guilmartin@gmail.com. As always, happy house hunting!