Is Condominium Living for You? Find Out Now

Those in the market for a home would do well to expand their search and consider more than just a single-family property. Condominiums are popular choices for some home buyers for many reasons. On the other hand, some people may not be cut out for condo living. Read on for some points to consider about condominiums.

Costs Can Be Lower

What might attract some to the condo choice is how much home can be had for the money. Condominiums tend to be less per square foot than a single-family home for several reasons. Each condominium may require less land and then there are shared walls, parking, and more. Comparing square footage may not tell the whole story, however. If a condominium building is in a much-desired location, the price can climb higher than that of a similar single-family home. Also, most condominium owners have to pay fees for amenities and common area maintenance. The price of those add-ons must be considered along with property taxes and homeowners insurance premiums.

Amenities Can Vary

You are not going to have a backyard of your own with a condo, but you might still be able to garden and enjoy the outdoors. Whether it's container gardening on the balcony or a plot in the community garden, condominiums try to accommodate residents by providing an alternative to a single-family home. Condominiums don't only have unique amenities, but personalities as well. For example, condominiums aimed at older adults may have more game nights, travel opportunities, transportation to the mall, and more. Those aimed at active adults might have more pools, walking trails, tennis courts, etc. When you know that you are more likely to come into close contact with other residents, you want to make sure that you have some commonalities with them before you buy there.

You Can Enjoy Carefree Living

Not everyone wants to spend their free time painting, cleaning the gutters, and cutting the grass. If you would rather use your time relaxing or on hobbies, then you might be happy in a condo. Condominium associations take care of common area maintenance like changing the light-bulbs in the hallways and repaving the parking lots so that you don't have to. On the other hand, if you are a do-it-yourself type of person, not being able to address maintenance issues outside of your condo could drive you nuts.

No matter what type of living situation you decide on, speak to a real estate agent in your town to learn more about residential real estate.