A Few Pros of purchasing Condos

A condominium is similar to an apartment using the real difference being that the tenants own their units. There is usually a condo association of some sort that is accountable for the common areas such as walkways, roofs, and exterior structures and landscaping. The individuals the association in many cases are other owners from within the complex. The costs of taking care of such things are taken care of by all the individual owners from association dues and assessments.

The largest pro of just living in such a dwelling is based on not having the responsibility of taking care of things like lawn care and other forms of maintenance which can be an inherent section of home ownership. A Irwell Hill Residences Showroom is truly a carefree life and quite often has expensive amenities you cannot inexpensively get in a single family dwelling, for example swimming pools, gyms and clubhouses.



There are many cons to living in condominiums. All condos have rules how you may behave. Some don't let pets, exterior decorations and old junk cars. Additionally a condo IS an apartment, and thus you must be mindful of any behavior on your part that may disturb your neighbors.

If you are looking to get a condo for investment purposes, there's also a few pros and cons you should be aware of beforehand. This article will let you know about some of them so you can make the best decision about rather condo investing is right for you.

PROS

1) Resell Value

One of the primary pros to having a condominium will be the resell value. Condos are extremely popular plus a home in the right area brings a premium in either resale values or rental rates.

2) Lower Cost

Even if the condo is at an area with very high property values it'll be much less expensive to purchase a typical single family house. This is due in part to the shared expenses of property maintenance. However, like a rental unit an apartment will bring in the same or not far from the same amount in rent as houses will.

3) Restrictions

The restrictions on pets as well as other things that are inherent to a condo and strictly enforced assistance to maintain the property price of the home. There will be no junk cars, broken down washing machines, or overgrown yards to bother with when it is time and energy to resell the machine.

4) Cost sharing

This one is both a pro and a con, sharing the price of any major repairs could be a good thing. If however you find a whole lot for a condo that needs a few major repairs sharing the expense with others helps a lot.

5) Amenities

Most condominiums offer excellent amenities you can't find in just one family dwelling. Such things as fully equipped gyms, pools, golf courses, and tennis courts that you don't need to perform maintenance on are wonderful perks with regards to renting or reselling the home.

6) Maintenance Man

logged pipes, blown fuses along with other such things could be a nightmare for any landlord to cope with, but with a condominium a maintenance man is usually included and covered beneath your condo association.

7) Landscaping

Having a condo the landscaping and yard work are taken care of for you. You should not lug out a heavy mower or trim bushes and branches to your tenants. The fees with this service is included in the condo association dues and therefore are much less you would pay if you had to hire someone to make it happen for you.

8) Security

An empty house can be quite a target for vandals and theft, not so with a condo. Most condos have some form of home security system in place, key codes on doors, guards on driveways as well as guards that walk around regularly. With a condo you won't ever have to worry often there is someone around to help keep an eye on things. That will even be said for emergencies inside of the home, like fire or perhaps a broken pipe. Using a condo someone will usually notice a problem and takes steps to manage it.

9) Retirement home with an income!

A typical condo that's fully furnished can rent for between $2000 and $5000.00 each week in the right areas. It is possible to rent your condo out when you are not utilizing it and still have a good place to go on vacation.

10) Help finding renters

Most condos can help you find qualified renters for the unit. They actually do all the work you're making the money. A win, win situation.

Owning a condo isn't all sunshine and rainbows, however. While there are numerous wonderful top reasons to invest in a condo there are also some that are not so wonderful. Consider both pros and also the cons carefully before investing.

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