When you are looking at homes for sale, do not pass up the idea of owning a condo. Despite the images you may have in your head regarding condo ownership, it is the best of two worlds. You own it like a house, but care for it like a rental property. Here is more on how that works.
Buying a Condo
Buying a condo is just like buying a house. The process is essentially the same, right down to closing costs and extra fees. The only differences are that you do have to pay condo management fees and fees for your membership in the condo association. Think of these extra fees as perks rather than expenses, since the extra fees are directly tied to some of the perks you get with living in a condo.
Maintaining Condo Property
Got a lawnmower and yard equipment? Sell it. Sell all of it. The condo association pays landscapers to maintain all of the property around your condo building. You never have to do yardwork again. If you want to do some gardening, you can grow flowers and vegetables off of your patio or balcony, but you never have to weed, feed or seed the grass. That is all done for you.
Pipes in your condo leak? Problems with the toilet? Appliances are amiss? You typically do not have to deal with any of that either. The condo association hires repair technicians, plumbers and electricians to fix problems in the condo units. You do not even have to find your own repair person because most condo properties already have contracts out with some of the local repair companies. The only thing you have to do is call the condo association office and report your problem.
Decorating Your Condo and Damages
Your condo is your home. You can paint it, wallpaper it, refloor it, etc. Anything you could do with a house you can do with a condo because it is yours. Single parents typically love condo living because they never have to pay a security deposit to cover the the damages the kids do to the walls and carpeting. Got pets who forget where the litter box is or cannot wait to go outside? That is never a problem in a condo either. It is your property.
The Best of Two Worlds
A condo is a purchased home that belongs to you, just like any other house. However, everything that is usually addressed by a homeowner is not your responsibility. It is similar to living in an apartment with month-to-month rent with an option to buy the apartment, except that you have already bought the place. It is the best of owning a home and renting an apartment all in one.Share