Buying a Condominium
There are so many condos for sale these days that it almost seems like no one is building any apartment buildings anymore. In fact, with interest rates being what they are, in some cases, owning a condo and paying towards your own place is even more affordable than paying rent!
Condos are a great investment for people who would like to own property without having the headaches that come with a house. Condos are especially great for young couples, retirees and singles who want a place to call their own but would rather someone else took care of maintaining the grounds, clearing the snow and taking care of major repairs.
The idea behind a condo is that every occupant owns a share of the building and contributes monthly towards a maintenance fund. These funds go into a separate bank account and are used to pay for the upkeep and care of the building. These funds are supposed to cover everything from window and door replacement to painting to janitorial services. When a condo is managed properly they are virtually worry-free and extremely low-maintenance for the proprietors.
However, before buying a condo it is important to assess whether you will be happy living in one. Generally families with children prefer living in houses because condos restrict noise levels and young children would not be able to run around as freely as they would in a house. People who enjoy gardening should also think twice about owning a condo as the landscaping in most units is controlled by the condo board.
Whatever you decide, buying property is one of the surest ways of building wealth.
Contact Dawn Grabover the only Realtor® you will ever need!
(203) 417-2697
