Categorised | Health & Lifestyle, Property

Living in a Condo: Is It For You?

If you are thinking about buying a home, there are many reasons why you may be considering a condo over a standard house or apartment. Condos have never been more popular, particularly with the Boomer population, who are growing older, starting to downsize and move to homes that are easier to look after. As a result, condos are in high demand.

Buying a condo can be a great option, whether you’re just starting a family or preventing empty nest syndrome. Nevertheless, living in a condo isn’t for everyone. There are some important things that need to be considered before you buy a condo and just as many downsides as there are benefits. However, here, we are going to look at some of the positives.

What’s a condo?

There are some significant differences between a condo and an apartment.

A condo, such as one of the ones by the far east consortium is a private home within a larger building or community, while an apartment is usually a rented residence within a larger building or community. Condos share common areas with other units in their community; these communal areas may include a recreation center, pool and manicured grounds. Unlike an apartment, however, condo owners pay monthly fees to keep these facilities going and in good condition.

Do you want to be an owner of a condo, or are you better off buying a standard home? It’s a difficult question. Many people love living in a condo, while others find over time that they would be happier with a little more privacy and freedom. Condos, like anything, offer a long list of advantages and disadvantages. Let’s take a look:

Maintenance

One of the greatest advantages of living in a condo is that other people are doing the maintenance for you. If you’re a homeowner for the first time, in poor health, busy with work, like travelling, or you just don’t want to deal with all those things, that’s a big advantage.

Condos can also be a good option if you are getting older, as you have plenty of nearby neighbours, professional maintenance workers to do a lot of the significant repairs, and lots of activities to keep you involved with your community.

Security

Most condos provide gated or locked doors, doorkeepers, or even security guards for residents. Whether you live alone or safety is a priority for you, this can be helpful, as it may reduce the risk of home break-ins. The fact that you also live in close vicinity to many other people, which means that in an emergency, you’re going to have a lot of people to turn to for help.

Amenities

Would you like a pool? A gym? Nights at the group clubhouse? Most condo developments provide homeowners with facilities that are out of scope for the average homeowner.

Such features will make it a lot easier to get to know your neighbours as well. When you live alone or want to socialise, that could be a great advantage.

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