Is A Condo A Good Fit For You?

I'm often asked the pros & cons of condo living.

There's really no "one size fits all" answer!

I can share some insight with you, because my wife, Amy, and I owned a condo before we had children. We actually moved 4 times in 10 years. Yes, it must have been an occupational hazard. Our first home was a starter Cape Cod. Then we fell in love with a new condo community near Sharon Woods - close where I grew up. Next, our son came and we moved to a 2-story. Finally, after wanting a kid-friendly backyard, we moved to a neighborhood with lots of kids. It's been 10 years here, because we don't want to move our kids. Now that doesn't mean I'm not planning my next move. :)

Now, back to my insights on the pros and cons of condo living:

PROs

• condos are great for exterior, maintenance-free living
• condo fee normally covers landscaping, mowing, snow
  removal, decks, patios, roofs, community features, etc
• if you often work a lot of hours or travel a lot and don't
  spend much time at home, a condo is a great option
• condos are more affordable than houses in many areas
• many condo communities come with a pool, clubhouse,
  tennis and other amenities

CONs

• make sure condo association is financially solvent and
  monthly fees cover maintenance and future reserves -
  every owner is jointly responsible
• make sure you agree with the association rules and that
  they are being enforced - you'll need board approval before
  making any exterior changes to your condo
• if you have large or many pets, there may be restrictions
  on their size or how many you can have in a condo
• proximity to your neighbors depending on how your condo
  is situated - common walls or shared/divided patios or decks
  
  

These are just some of the things to consider when buying a condo.

You also want to make sure that the type of mortgage financing you're approved for is offered for the condo community you're considering. If it's a new community or a community where there's a large percentage of renters vs. owners occupying the condos, then you may need to look at alternative financing.

At your service,

Dan

What questions do you have? I'll gladly answer them at: dan@danweis.com.

Tell a friend about my next Free Home & Condo Buyer Class!

I'm available to help you find your dream home! Contact me for a Free Consultation: (513) 615-1890 or dan@danweis.com