Condo or Not?

Hey Everyone,

        If you are considering a move right now one possible destination could be a condo or town house. These units tend to offer a more affordable choice in many markets along with offering a maintenance free lifestyle. BUT WAIT! There are a few aspects of condos and town houses that should be considered before you start the hunt; they include:

• Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer
• Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home
• Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home — good news if you like to travel
• Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors
• Security. Keyed entries and even doormen are common in many condos. You’re also closer to other people in case of an emergency.
• Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you
• Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings
• Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.
• Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar.       

Depending on what type of person you are and what your criteria is for a new home this could be a very smart and comfortable choice for you and your family. I personally lived in a condo growing up and I really enjoyed where I lived. The biggest thing to consider in my opinion is the community that you are getting into and the type of people you will be surrounded with. I strongly recommend visiting the neighbors surrounding the property being considered, say hi, and see what they're like.

ENJOY THE WEEKEND!!!!!!!!!!!