While the idea of “home sweet home” might be emblazoned into most people’s minds as pertaining to a house with a yard, picket fence, and a garage, it might actually be better for many buyers to look beyond a house to something that suits their lifestyle better. Sometimes home buyers start out with the idea that what they want and need is a big house with multiple bedrooms and a yard, but it’s sometimes the case that this wouldn’t be a good fit for that buyer at all.
Some reasons why a condominium might be the best fit for you
- You want to live close to downtown. While it is true that in many cities you can buy a house close to the downtown core, these homes are often not right in the centre of things and they’re often very expensive. Relatively speaking, a condo is a less expensive purchase than a house in this type of situation.
- You don’t have a lot of spare time. Maintaining a yard plus the exterior of a house can take a lot of time and be a big expense; condos require no work from you to upkeep the exterior or yard. Your monthly condo fees cover maintenance, landscaping, and repairs. This is also a good reason for people who can’t physically do yard work themselves.
- You like to travel or have to travel for work. For people who are away a great deal, a condo is a great place to live because of the added security of the locked entrance. Even if your condo is of a townhouse style, you have the benefit of having neighbors close around your home. It’s much harder for someone to break into your home with all of those neighbors close by.
- You’d like to buy a real estate investment. While you might decide later on that you need more space or would like to move somewhere else, a condo can be a great purchase now because you can rent it out when you are done living in it. You can also use it for a retired parent, college student, or even your own retirement property for the future.
- You’d like to live in a development that offers great amenities. While this is certainly not true of every condo complex, some of them do offer their residents some great amenities as part of their condo fees. Depending on where you live, this could include communal recreation/games rooms, exercise rooms, private party rooms, and swimming pools.
Don’t say no to a condo because of any pre-conceived notions that you might have about them, ask your REALTOR® to show you some that might fit your needs, you could be surprised what your area has to offer!