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Thursday, February 13, 2014

Should I Buy a Condo?

Should I Buy a Condo?

One of the biggest questions when looking for your first place to live is the question of whether you should buy a home or transition into a condo first. People continuously choose both of these options. For the people who buy a condo first, they are probably doing it for the right reasons. There are obvious advantages to owning a condo before transitioning into a house. Of course, with these advantages comes some disadvantages. This article will explain some of the advantages and disadvantages of getting a condo so you can make the decision yourself.

The most obvious advantage to owning a condo is the fact that it can be significantly cheaper than owning a house. Say you wanted a certain size of a home. If you bought a condo that is the same size as the house then you will still be paying about 25% less for the condo. Of course, this is because you are very close to your neighbors. So close, in fact, that you may be sharing a wall with a couple of them. Another advantage is the fact that most condos are maintained on the outside. This can mean anything from mowing lawns to repairing the roof. Of course, because of this, there is usually a fee. It is a significantly small fee, however, and you may want to consider both the cost and time of the maintenance.

A huge advantage to a condo is the fact that they are usually safer. Most condominium complexes have gates and other security measures built in. This security can be anywhere from a punch code to get into the complex, keys for the outside fence, or even security cameras. Neighborhoods may not have all of these things. Of course, you can live in a gated community, but condos are usually even safer than those. This is one of the best advantages because it can keep you and your family safe.

Should I Buy a Condo?

Speaking of family, most people want their children to go outside and have a good time. A lot of condo complexes have common areas where everyone who lives there can go out and have a good time. This can be anything from public pools, to a playground for the kids. These are usually very close to your home as well. This, coupled with the security mentioned above, makes for the perfect place for your children to play and grow.

Some disadvantages to living in a condo, however is the fact that your neighbors are very close to you, and the fact that there is usually very limited parking. You neighbors will probably share a wall with you, and this is not good for some people. They may feel that there is not enough privacy with owning a condo. For some, privacy is a huge thing. If you have a car, and you cannot find a place to park, then it can be a very frustrating experience. Condos have both their advantages and disadvantages and you will have to find them all yourself. Make the educated decision when shopping for a home.

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