The amenities that a condo complex have can have some similarities to an apartment complex. Many condo communities include dog parks, pools, a rentable clubhouse, and grilling areas. If you like attending community events, a condo may give you more opportunities to enjoy the company of your neighbors.
Condos are known for being low maintenance. The exterior maintenance for condos is generally handled by the Homeowner’s Association (HOA). If you’re looking to not maintaining a yard, upholding cleanliness and condition for walkways, siding, and roofs, a condo might be a great choice for you. This will allow you to have more time for hobbies or taking care of you pets/children rather than upkeeping the building.
It all depends on what you like, condos often come with various features and benefits that cater to your lifestyle. Fannie Mae says: “Condominiums, or condos, can be great alternatives to detached homes. City dwellers, singles, couples, seniors, and many others may find condos that suit their needs and budgets. Others may simply prefer low-maintenance living. Buyers who feel ‘priced out’ of homes may discover condos offer an affordable homeownership alternative.”
It's important, though, to consider that condominiums always have a condo fee that covers the amenities described above. This fee needs to be considered in your overall monthly payment and affordability of the property.
If you are looking for your first home, you may want to consider purchasing a condo. They are often more affordable than a single-family home, have great amenities, and require less maintenance. If you would like to get started on the homebuyer journey, connect with our team today to determine your buying power!
Topics: Real Estate, Condominiums, Condo, Mortgages, First Time Homebuyer, Home Buyers, VA Loans, Mortgages for Millennials, Should I Consider A Condo, Perks of Condo Ownership
