When trying to decide the type of property in which you should invest your hard earned money, many factors may come in to play. While purchase price is always an important part of the equation, there are other ongoing costs that you may have to consider before deciding between a Single Family Residence (SFR), Townhouse or Condominium. But debating the economics of the purchase is only one factor in deciding where to live.
A second and equally important aspect of your decision should be your lifestyle. If you are someone that enjoys a large private yard, enjoys working in a garden and relishes handling the maintenance and repairs of your home, perhaps a SFR is your best choice. But if you prefer to spend your time at work, traveling, playing golf and tennis or just kicking back and relaxing with your favorite book or movie, then perhaps a Condo or Townhouse will better suit your needs.
Condominiums can take on many forms from simple and affordable studios to high-end luxury units with features and living space to accommodate any size requirements.
Prospective clients often cite the high cost of monthly fees to support a Condominium Association as a reason to avoid a condo purchase. Yet they seldom take the time to compare the costs of maintaining a SFR, if you have to hire someone to handle such important tasks like maintain the building, repairing the roof, doing the landscape and more.
So when considering a real estate purchase, be true to yourself. Decide which ongoing tasks you wish to handle yourself or which ones you prefer to have done for you. Consider the amount of time you wish to spend with contractors, repair people, etc. Consider how you prefer to spend your weekends; fishing or mowing the lawn.
Surprisingly, many people may find that owning a condominium may be the best choice for the lifestyle you want to live.
But purchasing a Condominium may come with some additional questions. It is always best to work with an agent that knows the local area and is familiar with the details of a condo purchase. Considering a purchase in the Phoenix metro? Why not give me a call? I will be happy to discuss your needs and help guide you through a seamless purchase transaction.
Joe Domino is a Realtor® serving the Phoenix & Scottsdale metro area. You can Search for homes or find more great information by visiting his website at www.Scottsdale-AZHomes.com
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