Four Reasons A First-Time Home Buyer Should Purchase A Condominium
Posted on: 19 August 2016
You've saved up your money for that important down payment, you have built up a good credit score, and you may have even taken the additional step of getting prequalified for a loan, but before you start shopping for your first house, you should give consideration to buying a condominium. The are several advantages to buying a condominium as your first home purchase. The following are only a few of them.
Low maintenance
With a house, you will be responsible for the maintenance and repair of both the interior and exterior of your home, but with a condominium, you are usually responsible only for the interior. This can extend to certain internal structures that are shared by condominium owners. Condominium owners pay association fees, and this money is used for the upkeep and repair of everything external. This simplifies what you need to do to maintenance on the interior of your home. Exterior painting, landscaping and any other issues you may have after you buy a house are problems you avoid as a condominium owner.
Amenities
Along with the exterior maintenance, a condominium owner enjoys a great many amenities that are shared with others in the condominium complex. Amenities are wide ranging, so this is always something to pay attention to when shopping for a condominium. Common amenities include pools, hot tubs, fitness centers with the latest exercise equipment, steam rooms and even game rooms. Part of shopping for a condominium is comparing your monthly fees with the amenities you'll be receiving. In most cases, you will be getting more than you will in a house, because it is often cost prohibitive in a house to install everything a typical condominium complex has to offer.
Location
One great thing about condominiums is that they have a tendency to be located near many of the social activities of communities. Places such as restaurants, movie theaters, sports facilities, museums, and other things of interest are often a short distance from a condominium complex. In many areas, there is no need to own a car because public transportation is nearby.
It is a lifestyle
Living in a condominium instead of a house is often a choice of lifestyle and not just the type of structure you are buying. Whether you are young or old, there is a strong social aspect to condominium life than you will find in a suburban housing tract.
The differences between living in a condominium complex and a housing tract are such that it often comes down to a personal choice based upon who you are and how you want to live your life. But the important thing to remember is to think about the advantages of buying a condominium and give it equal consideration to buying a house. Work with a local real estate agent to find the perfect home for you.
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