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A Condo May Be A Good First Home

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

Many people believe that condominiums are only suitable for mature, retired buyers. However, this is not necessarily the case. While many retirees enjoy the convenience of full-service buildings with door attendants and 24-hour receptionists, young people can benefit from the same amenities.

 

This got me thinking about the potential for young singles, married couples, roommates, and college students to own homes in a Baltimore condominium building. Investing in a condo is one way to enter this real estate market and build equity.

 

While high condo fees may be a deterrent, they often include utilities and other services that make them more affordable than many single-family homes. Additionally, buying a condo is usually a more sound investment than renting and can provide equity for a future home purchase. 

 

Here is a Baltimore Condo for sale

 

Condominiums also offer plenty of benefits for families with young children. For example, the ramps in many buildings are perfect for strollers, not just wheelchairs and walkers.

 

Promoting condominiums to first-time buyers is a good idea. They are also a wise investment for college, law, or medical student parents. The security is good, and they won't allow disturbances. By taking on a roommate, they could absorb the condo fees. 

To find that perfect home

Call Margaret Rome

Posted by

Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


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June Piper-Brandon
Coldwell Banker Realty - Columbia, MD
Creating Generational Wealth Through Homeownership

I agree condos can be a good home. If the buyer is someone that travels for work a lot a condo might be just the ticket, low maintenance and security.

Apr 07, 2024 08:39 PM
Margaret Rome Baltimore 410-530-2400

June Piper-Brandon

Both good reasons if you travel a lot.

Apr 08, 2024 01:56 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Condos can be good first homes and they could tell you who you are on the smaller scale so that when you expand, you already have a sensitive where you want to go with your ideal home

Apr 07, 2024 11:36 PM
Margaret Rome Baltimore 410-530-2400

Laura Cerrano Like a dress rehearsal. 

Apr 08, 2024 01:58 PM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Great post,  Margaret.   If a renter likes apartment living, why not buy a condo and build equity and have some tax write offs?  Yes!

Apr 08, 2024 02:53 AM
Margaret Rome Baltimore 410-530-2400

Michael Elliott  Good point: if you like apartment-style living, buy and build some equity.

Apr 08, 2024 02:00 PM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Margaret. A condominium for a first time buyer is a primer for the benefits and responsibilities of home ownership. Next step a townhome or single family home with additional responsibilities. Enjoy your day.

Apr 08, 2024 03:48 AM
Margaret Rome Baltimore 410-530-2400

Wayne Martin

If you're not prepared for the responsibilities of maintaining a single-family home, starting with a condo would be a logical choice.

Apr 08, 2024 02:04 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Always best to start small.  Thanks for sharing it. Happy Solar Eclipse Day. Have a super fantastic week!

Bill Salvatore, Realtor- Arizona Elite Properties

Apr 08, 2024 05:04 AM
Margaret Rome Baltimore 410-530-2400

Thanks Bill Salvatore - East Valley 

Always good to see you.

Apr 08, 2024 02:07 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I totally agree. Condos can be an excellent way to start owning real estate!

Apr 08, 2024 05:12 AM
Margaret Rome Baltimore 410-530-2400

Kat Palmiotti 

We have very few condos compared to other big cities.

Apr 08, 2024 02:08 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Margaret,

I remember when my daughter was in a college one of her sorority sister's dad but a condo right downtown Austin and the girls moved in after their obligatory year in the sorority house. Then her brother came to UT and he lived in for four years and then her sister came and lived in the unit for 4 years. VERY wise investment! 

Apr 08, 2024 05:21 AM
Margaret Rome Baltimore 410-530-2400

That was a brilliant dad, Dorie Dillard Austin TX 

Apr 08, 2024 02:10 PM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

I have always thought that Condos would be great for College Students.  What a great blog, as always.  Thanks for sharing and have a fabulous day!

Apr 08, 2024 08:00 AM
Margaret Rome Baltimore 410-530-2400

I am surprised that more parents of students don't consider the option.  Look at Dorie Dillard Austin TX  comment above.

Good to see you, Norma J. Elkins 

Apr 08, 2024 02:13 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret, the perfect home is not always a house for everyone.  Sometimes the perfect home is a condo.  ☺️

Apr 08, 2024 01:40 PM
Margaret Rome Baltimore 410-530-2400

Hi George Souto,

There are many different types of real estate just for that reason.

Apr 08, 2024 02:26 PM
Roy Kelley
Retired - Gaithersburg, MD

This is good advice to share with prospective home buyers.

Have a productive month.

Apr 11, 2024 04:40 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Good to see you, Roy Kelley 

Apr 13, 2024 08:04 AM