Fridays with the Fiddle Fig: 11 Pros and Cons of Owning a Condo
This is an interesting topic as many people feel they would never be interested in buying a condo. Today I thought I would cover a few pros and cons of buying/owning a condo.
Pro: You do not have to deal with any exterior maintenance of the property
Con: You do not get a large say in the look and feel of the complex.
Pro: You are able to buy a lot more “house” when purchasing a condo.
Con: You will always have someone living RIGHT next door.
Pro: A condo complex can feel much safer than a home.
Con: You often can’t pull into your garage or driveway and walk right into your home.
Pro: You can have the benefits of a pool without having to deal with the headache of maintenance.
Con: Your HOA fee is never set in stone and always has the potential to increase
Pro: You can purchase in a neighborhood you may not normally be able to buy a single family home in because of prices.
Con: Condos are typically slower to recover in value from a down market.
Pro: If you decide to travel a condo is much simpler to lock up and leave for weeks or possibly months. No need to worry about the lawn over growing while you are gone.
As you can see there are MANY Positive reasons for buying a condo. It's important to be fully educated and understand what it means to be a condo owner. If you have more question or think buying a condo would be a good route for you let us know and we would be more than happy to continue this conversation with you.