Residing in a condo or highrise is so much different from owning or leasing a single house home or flat. This alternative housing option is much different from living in a yearlong house. Condos are a fantastic alternative for low-key, social types who like getting to know other residents, warts and all. The requirement for Luxurious highrises are being pushed by all ends of the market scale – from young professionals couples and singles to first time home buyers to empty nesters to next house investors.
WHAT’S THE DEFINITION OF A CONDO?
Condos are described as separately owned housing units within a larger house. The ownership of this unit is based on the legal description of the distance the unit actually occupies, along with common interest in the common areas of the property. Condos usually feature common areas shared by all owners. Care fees called”assessments” are typically paid to a condo association to preserve, repair, or improve the property. Condos can be high-rise residential buildings, townhouse complexes, individual homes, and low-rise residential buildings.
The advantage of condominium living is that you have access to a broad assortment of amenities, your security and pest management is taken care of, and all outdoor issues fall within the domain of the homeowners association. For empty nesters, condos offer an alternative to lawn duties and home maintenance. This lifestyle is excellent for anyone interested in a low-maintenance, “lock and go” lifestyle. Reduced maintenance lifestyle: highrises and condos are a wonderful choice for folks that are too busy or too overwhelmed to take care of regular property maintenance such as shoveling the snow, mowing the yard, or cleaning the gutters. Another perk of this condominium lifestyle is that the availability of facilities and utilities which would have been unattainable particularly for those that are pressed for time.
Successful condominium owners know it’s all about accepting the drawbacks together with the upsides. Condos are less attractive for a growing family. However, one drawback of living in a highrise is the close quarters can be a true test of your ability to play nicely with others. However, some regret their decision to change to a condo because they didn’t research first and learn what condominium living is all about. Despite reduced personal privacy; maybe above all, this lifestyle may be an insufficient housing choice for very private folks.
THE RIGHT DECISION FOR YOU
Only you can decide — based on your lifestyle, your budget, and your personal tastes — if living in a condominium unit is ideal for you. Concerning understanding, condos will also be evolving into an upscale, downtown, instead chic alternative to living in a house-without passing up the financial benefits of owning rather than leasing.