Advantages of Condo Living

By
Real Estate Agent with Coldwell Banker

Since you’re considering a condo, you’ll want to know about what it’s like to live in one compared to a single family property. It is different to live in a condo, and the good news is the advantages of such a home are plentiful.

 

First and foremost, say goodbye to lawn maintenance, and pool maintenance, if you currently live in a home with one. Secondly, say goodbye to practically every other form of maintenance, because when you live in a condo, that’s all taken care of by the association.

 

Living in a condo means being right next to the beach or in the heart of a metropolis. It’s also easy to travel when you live in a condo, just pack and go. Many are gated and have security, some even offer concierge services. If that’s not enough, there’s a plethora of on-site amenities, like a pool, a spa, fitness center, and clubhouse with all kinds of resident amenities.

 

Tips for Buying the Perfect Condo

 

Of course, if you’re going to purchase a condo, then you need to know how to go about it smartly. Here are a few tips to buy the perfect condo:

 

  1. Check into the association. In a condo community, the residents own shares of the entire building. Yes, you own the unit, but it’s maintained by the association. The association should have a healthy reserve account to keep up the upkeep as well as fund any big projects such as a new roof or repaving the parking lot.
  2. Learn a little about the history. Check with the local clerk of the court to see if any current and former residents are suing the association.
  3. Think about parking. In a single family, this isn’t usually a factor but in a condo, there’s likely at least one dedicated parking space and some communities have covered parking.
  4. Consider the layout. You’ll probably want to avoid condo units with long hallways, because it usually means less space. Awkward wall angles can mean problems with furniture placement and units next to noisy stairwells aren’t particularly attractive.

 

Last but certainly not least, think about the future. The more amenities and facade of the building will make a big difference when it comes time to sell.

 

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Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Jan, I purchased a second home in Destin almost 4 years ago and it is a condo and we love it period.

Apr 28, 2014 06:09 AM #1
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