Many prospective homeowners always consider the pros and cons of their intended properties before making any commitment to purchase. The same is true when it comes to buying condominiums. You also have to understand the pros and cons of condo ownership as this, like any big-ticket purchases, require substantial investment on your part. With the right information, you can then make the correct informed decision on whether condo living is right for you or not.
Condo Living – What Are The Pro’s and Disadvantages
There are plenty of reasons why you should buy a condo unit. These can include the following:
- Lesser responsibilities in terms of repair and maintenance of your condominium unit. Of course, you will still be thinking about basic routine maintenance checks for smaller items but for bigger appliances, devices, equipment, and furniture, this is taken care of by the condo management. This is especially true for major repairs.
- Enhanced or much more improved security features. Many condominiums today feature security systems that can be found in hotels such as access control cards, CCTV, 24-hour roving security, and other state-of-the-art facility security technology. Best of all, since your neighbor is literally just behind your wall, you have added security in case you do need to take a lengthy vacation.
- Access to on-site modern amenities. Modern condominiums are like small communities that have all of the modern conveniences of everyday life. There can be a spa, a fitness center, a swimming pool, a gym, or even a sauna facility. While you can enjoy these elsewhere, you don’t have to go far to get them if you are in a condo.
- You have a voice in how the condominium community needs to be run. One of the pros of condo living is the close-knit association of condo unit owners who can have their voices heard during meetings.
- While there are association fees and other fees, these are often predictable so you can work on your budget a bit more consistently.
- Some condominiums provide excellent social, recreational, and entertainment activities that are sometimes geared for a certain segment of the condo community. For example, there may be activities for seniors, stay-at-home moms, or even children.
Cons of Owning a Condo Unit
Understanding the pros and cons of condominium living requires an understanding of its major drawback. Technically, some of its pros can actually be its cons as well.
- No control on what needs to be repaired or maintained.
- No control on the design of your unit although you may have control on the interior decorations.
- Paying for amenities or services you may not really use or avail of. This is especially true if you are only in the condo to rest.
- Moving in can be a pain with tight restriction on the hours, the elevator use, nosey neighbors and small hallways and doorways
- You don’t have absolute privacy since your neighbor is just literally behind the wall.
- There may be some restrictions on certain things like pets, noise levels, smoking, and others.
Choosing to live in a condo is actually dependent on your personality, your lifestyle, and your financial situation. Getting to terms with the pros and cons of condo living can help you sort this out. Give Ed a call today to look for your dream home or list your home or condo in Pompano Beach at 732-997-8620.