To paraphrase the late great George Carlin, we all need “a place for our stuff.” For nearly a third of all occupants in the country, that place is a rental property, owned by someone else. But don’t think that you’re only limited to apartments when it comes to rental properties. Furthermore, don’t think that home ownership is out of reach if you are renting.
More Options in Renting. Many people simply prefer to rent. They prefer the laid-back style of occupancy where if something does break, they can call the landlord to take care of it. For die-hard renters who are looking for a little more space, townhomes and condos are a great solution. Condos can be either rented or owned, so they’re often located in prime city locations. Townhomes often appear in suburban developments, can also be rented or owned, and usually feature multiple living levels, giving it a much more home-like feel.
Stepping Stones. In the endless debate of townhomes vs apartments and condos vs houses, it’s important to note that townhomes and condos often provide the perfect stepping stone between renting and home ownership. Condos and townhouses generally occur within communities, similar to apartment complexes, but often in a more neighborly setting, so a cautious renter can test the waters of an “ownership vibe.”
Income Properties. Perhaps one of the most compelling factors to buying condos and townhomes is the ability to use them as income-generating properties. If you search online, right now, for townhomes and condos, you’re likely to find a huge list to choose from. That’s supply keeping up with demand — and demand is massive. All that rent money is going somewhere. Why not into your pocket? And you get to practice the purchasing process in the meantime. It’s a win-win.
There will always be a demand for townhomes and condos. Whether you’re looking for yourself, as a renter, or for a property to purchase, rest assured that you’re likely to find just the right place, at just the right price. Happy hunting! For more about this, go here.