| Sometimes Overlooked | | | | possibility that only one or two common walls will be |
| There is a home ownership option that is often | | | | shared with neighbors. |
| overlooked by potential home buyers, and that is The | | | | Whats the added costs |
| Condo Option . Traditional detached single family style | | | | One factor to consider when buying or investing in a |
| homes are not always the ideal situation for many | | | | condo is that condo owners generally must pay a |
| home purchasers. | | | | condo association fee monthly. These fees defray the |
| | | | cost of most maintenance, repairs and upgrades to |
| For those who are just starting out, affordability may | | | | the common areas as well as for the overall |
| or may not be an issue. For the new empty nester, | | | | management of the complex. They do not cover most |
| downsizing and not having the upkeep, yard | | | | everyday repairs, upgrades and maintenance for fixes |
| maintenance, etc., may be the key issue. Or, maybe if | | | | or replacements within your own condo unit, like |
| both spouses work, a traditional single family home | | | | electrical switches, plugs, most common plumbing |
| may be just too much work and not fit your lifestyles. | | | | problems, carpet cleaning, etc. |
| Condos are attractive to many buyers because they | | | | Some, more major maintenance problems, like |
| offer them a chance to own their residence and build | | | | plumbing drains, etc., where the clog is in the common |
| equity at what is usually a lower cost than a detached | | | | plumbing within the walls, or ground which serves many |
| single family home. Of course, there are exceptions, | | | | units, may be covered, however. |
| such as the purchase of a luxurious condominium that | | | | In Summary |
| many developers are building in downtown, affluent | | | | If you would rather spend your free time doing |
| neighborhoods, beach sides, etc. For these buyers, the | | | | something besides moving the lawn, painting the |
| prices will seem almost comparable to buying a single | | | | outside of your home, or waiting for the pool guys to |
| family home, however size, area and amenities will | | | | show up, then a condo might just be the thing for you. |
| determine the ultimate price on this type of purchase. | | | | Of course, there are other advantages to owning a |
| Security is also a preferred reason for purchasing a | | | | condo. Most condos offer many modern amenities as |
| condominium as most modern complexes are located | | | | part of the complex such as pools, Jacuzzis, tennis |
| in private, gated and very secure developments. This is | | | | courts, fitness centers, or clubhouses. These are part |
| especially important to older residents and to single | | | | of the perks that go along with owning a condo and |
| persons who live alone and want the added security | | | | paying your association fees. If you owned a traditional |
| to their lifestyle. | | | | detached single family home, you might not be able to |
| Whats mine and whats yours | | | | afford any of these amenities, let alone the upkeep |
| When you own a condo, you own the title to the | | | | and maintenance on them. |
| space within the walls of your living quarters only. The | | | | Condos, in todays hot real estate market, are highly |
| hallways, (outside your condo), the roofs, parking lots, | | | | sought after for all of the reasons listed here. |
| attics, the common green areas, (including lawns, etc.) | | | | It certainly is worth looking into before investing your |
| pools, gyms and recreation rooms, are called common | | | | hard earned money. |
| areas and are owned, and maintained by the entire | | | | Many condominium complexes today are very family |
| condo association on a collective basis with | | | | friendly and these complexes are ideal for raising |
| maintenance costs covered by the condo association | | | | children, especially if your family is security minded and |
| fees paid by each condo owner. | | | | want all of the modern amenities for the family that |
| On some of the older condo units, or condos that | | | | most condo complexes offer. |
| have been converted from apartment buildings, you | | | | Many, of course, are adult only, or are for seniors only, |
| may have one or more condo units adjoining yours, to | | | | and, offer amenities that other complexes dont offer |
| either side, on top, or below. On many newer | | | | like golf courses, more traditional recreation rooms with |
| complexes, the condos are designed more like town | | | | billiards, libraries, card rooms, etc. |
| homes with single or multiple levels and there is a | | | | The Condo Option is open and worth looking into. |