5 Reasons to Buy a Condo
There are three primary housing situations available—buying a condo, buying a house, or renting. Each has its benefits and drawbacks. Here are 5 reasons why a condo might be the right choice for you.
- Condos Are Less Expensive
The average cost of a condo is usually much lower than a house. A lower price means a lower down payment and a lower monthly payment.
- No Repairs or Maintenance Costs (on Exterior)
This is one of the primary advantages of living in a condo. While homeowners are busy mowing their lawns, painting the house, trimming hedges, cleaning gutters, pruning trees, raking leaves, and shoveling snow, condo owners are busy hanging out at the pool or gym, taking weekend trips, or simply relaxing at home. Your condo association maintains the exterior and common interior areas so you don’t have to worry about fixing a roof or having to repair siding.
- Good Location
Because condos are smaller, and more densely packed, they’re often located closer to amenities. This is particularly true of downtown areas with their large number of cultural activities, shopping, entertainment and job opportunities. Condo owners frequently have shorter commutes than homeowners, who more typically live in distant suburbs and exurban areas. This isn’t as much of a big deal in Medicine Hat, but the condos here are located conveniently near shopping, recreation, and public transportation.
Larger condominium neighborhoods are often packed with shared amenities. These can include swimming pools, fitness centres, and social gathering rooms. Most of those who live in houses have to commute to public facilities to get those amenities. The condo owner has them without even leaving the property.
- Social Connections
Neighborhoods of detached single-family homes tend to create distance between neighbors. Condos are much closer to apartments in this regard. Your home is literally surrounded by other units, and you may have others living above or below your unit. There’s also the density factor. Where there may be one home per acre in a detached home neighborhood, there can be 20 or 30 units per acre in a condominium.
This creates a level of intimacy that doesn’t exist in large subdivisions. And since condos tend to attract people of similar backgrounds and interests, there’s a greater likelihood of co-mingling socially. Activities are even more pronounced when there are common recreational activities and amenities to congregate around, like swimming pools and fitness centres.
If you’ve decided that condo living might be for you, give me a call and I can help you find the perfect one for your lifestyle!