There are positives and negatives when it comes to choosing a condo as a place to live. It is not everyones’ practical choice to purchase a condo, but here are some questions that can help you.
TYPE OF PRIVACY YOU ARE LOOKING FOR
A great part of living in a condo is the sense of community and a social living environment that comes along with it. Many complexes have fitness rooms, pool areas, and lounge areas where you can chat with your neighbors and get to know them more!
A condo may not be your ideal choice if you do not like living close to your neighbors, like walls that may be shared. If you live in a condo, you are placing yourself in a position to be more social and share more common areas than you usually would. If you do not find yourself being the social type of person, family homes may be a more ideal purchase.
DO YOU LIKE MAINTAINING THE EXTERIOR?
When you live in a condo, you do not have to do much work as you would in a single home. The association that runs the complex would usually have people cut the bushes, fix the roads, and work on anything that needs to be worked on in the area. This may be more beneficial to handicapped people, or older people who may have a hard time with physical labor. Other homeowners like the ability to plant their own flowers and adjust their own exterior to their liking. Are you okay with the association cutting your lawn, or having them decide what is good for the area?
ARE THE COMMON AREAS WORTH IT?
Most condos have clubhouses, fitness rooms, and pool areas to use. Will you be using all of these amenities while you live here, or will you just forget about it? The fees your association charges you will be going towards the landscaping, roads of the complex, and all the other fees of the amenities provided for you. It is better to think about it before throwing money away on amenities not being used. If the development is not right for you, then it may be better to look at other areas or homes.
HOW MUCH CONTROL DO YOU WANT?
When you own a condo, you give up your power to control the exterior of the property you purchased. There is an association with a set of rules that you must follow. This could mean how you decorate your property, paint it, or do with the landscaping. It can also mean they can control where you store items, park your car, and how the maintenance is being handled. When you live in a condo you follow rules to better the community, not yourself. If you can give up control, condo living may be for you, but if you can’t then you should look into a home.
WHERE DO YOU PREFER TO LIVE?
If you like to live in the countryside, condos may not be for you with the limit of privacy. If you like the city or urban areas, then condo living can fit you. Condos are usually located in popular areas, so usually there are more stores and people around you. It gives you an easy access point to do anything you want nearby, usually the major benefits of a condo.
CAN YOU AFFORD THE ASSESSMENT FEES?
Assessment fees come with owning a condo, and a lot of people do not like it. The fee is a monthly fee charged by the association, which can fluctuate per year. The association may also request money for new roofing, or other expenses for the community. If the association goes over their budget, the condo owners have to dip into their own pockets.
Regardless, condos have pros and cons, but it is not for everyone. Sometimes it is the perfect solution, and sometimes it is the worst mistake. Do you need privacy or do you crave a sense of community? Do you want to be near a lot of people or have your own quietness?