Those considering purchasing a new home may want to consider becoming a condo owner. Popular with every homeowner—from first-time buyers to retirees—condos offer many advantages over a traditional stand-alone property. Below are the top three.
Affordability: If you’re looking for a newly built home, a condo is likely to be less expensive than a stand-alone property. Why? Condos are often smaller in size than homes containing comparable numbers of bedrooms and baths. In addition, condos often share many building elements such as walls and roofing, so the cost of construction is often lower, resulting in lower pricing.
Low Maintenance: Condo life is a low maintenance life, as living in a condo means you’re likely paying Property Owners Association dues (POA), which cover many maintenance items such as landscaping, pest services, roofing, painting, and driveway repairs. Having so many services covered is appealing to busy professionals, parents of young children and retirees who may not feel up to mowing and raking. POA fees are typically relatively inexpensive, and for those too busy or tired to take on tasks alone, they are well worth the cost.
Amenities: Condos are all about top-notch amenities. From swimming pools and restaurants to golf courses and clubhouses with workout centers, many of today’s condo developments are filled with fantastic features. Expenses for building and maintaining these amenities are typically shared among condo owners, so you can enjoy these lux amenities at a very minimal cost.