Advantages and disadvantages of living in a condo

Advantages and disadvantages of living in a condo

If luxury living is your dream and you are finally ready to buy your own home, then a condo just might be the best option for you. After all, it provides you all the lux amenities like a swimming pool, home fitness center, beautiful backyard and much more in the same cost and without any added cost of maintenance. Isn’t that worth calling a smart and worthy purchase?

However, just like everything else, owning a condo also has an upside and a downside, i.e. the so called advantages and disadvantages. So, before you decide to buy one, make sure that you know everything that you need to. To make the process easier for you, here’s a quick review that will help you make the best suited decision.

Advantages:

• Condos are secure

Condos make one of the residential places security wise as most have double secured entry gates and security guards to keep a check on who can enter your house, which is a very safe bet, especially, if you are a lone individual.

Secondly, most of the condos are built in colonies so you can rest assured that you can contact and get help from one of your neighbors in case any emergency strikes.

• No maintenance worry
While maintenance might not be a big problem of you, it can sure help you save a lot of time if you don’t really have to take care of it. In simpler words, the developers take care of the maintenance- be it the exteriors or amenities, a leaking pipe, hole in the roof or any minor or major fixing issue. All you have to do is focus on your work or resting or whatever it is that you want to do with your time.

• Luxury amenities

Another advantage of living in a condo is that you get to enjoy all the basic luxuries right in your home. You want to go for a swim? The swimming pool is right there. Are you a fitness freak? No worries, take care of your body in your own personal fitness center. Other than that, you also get free pass to your own backyard, small playground for kids, clubhouse for mid weeks, weekend or holiday celebrations, and much more.

• They are affordable

The best perk is that most condos come under a budget price; you can find a condo with a price value even lower than a small 1 or 2 bedroom apartment. In fact, if you live in Alabama, there are beautiful condos for sale in Orange Beach AL all year round. So, do check with your broker to get a good deal.

Disadvantages:

• Low Privacy Factor
Since most condos are built in societies, you will have a lot of neighbours. So, if you don’t like running into people every now and then, it can be a but discomforting for you.

• Homeowner’s Association Fee

While you don’t have to take care of the maintenance, you do have to pay a small monthly association fee as a part of the community, which is used for maintenance, upkeeping the property and any future developments. And, it can sometimes become an extra burden on your budget. So, do ask about the fee beforehand.

• There are rules to follow

When you buy a condo, you become a part of the community and you are required to follow certain rules set by the management. While it is for the community’s good, it can sometimes be frustrating.
However, if you can somehow manage and make the disadvantages work for you, a condo can be a good investment.