Condo Owners Reveal the #1 Pros and Cons of Buying a Condominium!


Before buying a condo

There’s no shortage of buyers’ guides on the web praising all the advantages of owning a condo. To be sure, buying a condominium comes with a number of major benefits, and there’s a reason townhome living is becoming more popular. While many Americans spend their whole lives (or 30 years of it) in pursuit of owning that perfect house with the white picket fence, condo owners know better. So what do most condo owners wish they knew before buying a condo?

So What’s the #1 Advantage of Owning a Condominium?

The price. Although you can definitely find plenty of luxury condominiums far outside your price range, the save square foot of a condo will generally cost less than a similar space in a house. And although condominiums appreciate slower than single-family homes, you’ll still build equity up to 100% faster than you would renting an apartment.

When you add in the extra perks and amenities (swimming pools, gyms, 24/7 security, covered parking, etc.), buying a condominium offers homebuyers the best possible value for a higher quality of life.

Honorable Mention: Less Maintenance

Although some people want the white picket fence and backyard, many people of all ages are leaving their parents’ suburban lifestyle behind. Instead, townhomes and condos offer all the advantages of an urban lifestyle and still allow you to invest your money in a place you can truly call home. When you buy a home, you have to worry about maintaining the roof, the sewers, the landscaping, water damage, and so, so much more. Buying a condominium ensures you won’t have to worry about all the headaches that come with owning a traditional suburban home.

Pro Tip: How Can You Tell If It’s a True Luxury Condominium For Sale?

Luxury condominium communities have far fewer units. True luxury condos and townhouses will share space with no more than 100 units per community. Many have 10 units or less.

The #1 Disadvantage of Owning a Condo?

Rounding out our list of pros and cons of buying a condominium is a common gripe among condo truthers. If you buy a condo in a community with hundreds of similar units, then it’s sometimes harder to sell your condo. With little to distinguish your unit from your neighbor’s place next door, your resale value can be negatively affected. However, this is increasingly true of homes as well, many of which come in cookie cutter neighborhoods full of near identical houses.

Interested in buying condos and townhomes for sale? Let us know what you look for in home sweet home in the comments!

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