A Few Pros of Buying Condos

A condominium resembles an apartment with all the real difference being that the tenants own their units. There's usually a condo association of some sort that is responsible for the common areas including walkways, roofs, and exterior structures and landscaping. The people in the association in many cases are other owners from inside the complex. The expense of taking care of such things are paid for by all of the individual owners from association dues and assessments.

The biggest pro of just living in such a dwelling is based on not having the responsibility of taking care of things like lawn care along with other forms of maintenance which are an inherent a part of home ownership. A Irwell Hill Residences Showflat is truly a carefree life and quite often has expensive amenities you can not inexpensively get in a single family dwelling, including swimming pools, gyms and clubhouses.



There are numerous cons to living in condominiums. All condos have rules about how you may behave. Some do not let pets, exterior decorations and old junk cars. Another condo IS an apartment, and therefore you must be conscious of any behavior by you that may disturb your friends.

If you are looking to purchase a condo for investment purposes, there's also a few advantages and disadvantages you should be aware of beforehand. This article will tell you about some of them so you can make an informed decision about rather condo investing fits your needs.

PROS

1) Resell Value

One of the greatest pros to running a condominium will be the resell value. Condos are incredibly popular plus a home inside the right area brings a premium in both resale values or rental rates.

2) Lower Price

Even if the condo is at an area with higher than normal property values it will be much less harmful for purchase then the typical single family house. This is due simply to the shared expenses of property maintenance. However, being a rental unit an apartment will bring in exactly the same or not far from the same amount in rent as houses will.

3) Restrictions

The restrictions on pets along with other things that are inherent to some condo and strictly enforced assistance to maintain the property value of the home. There will be no junk cars, broken down washing machines, or overgrown yards to concern yourself with when it is time and energy to resell the system.

4) Cost sharing

That one is both a pro and a con, sharing the cost of any major repairs can be quite a good thing. If however you find a good deal for a condo that needs a few major repairs sharing the price with others helps a whole lot.

5) Amenities

Most condominiums offer excellent amenities you can't find in a single family dwelling. Things such as fully equipped gyms, private pools, golf courses, and tennis courts that you don't need to perform maintenance on are great perks in terms of renting or reselling the home.

6) Maintenance Man

logged pipes, blown fuses and other such things can be quite a nightmare for a landlord to manage, but with a condominium a maintenance man is usually included and covered under your condo association.

7) Landscaping

Having a condo the landscaping and yard work are taken care of for you. You don't need to lug out a heavy mower or trim bushes and branches for your tenants. The fees for this service is included in your condo association dues and therefore are much less you would then pay when you hire someone to do it for you.

8) Security

An empty house can be a target for vandals and theft, not too with a condo. Most condos involve some form of security system in place, key codes on doors, guards on driveways or perhaps guards that walk around regularly. Using a condo you never have to worry there's always someone around to maintain an eye on things. That will even be said for emergencies inside of the home, like fire or perhaps a broken pipe. Having a condo someone will often notice a problem and takes steps to manage it.

9) Vacation home with an income!

A normal condo which is fully furnished can rent for between $2000 and $5000.00 weekly in the right areas. It is possible to rent your condo out when you are not using it and still have a nice place to go on vacation.

10) Help finding renters

Most condos can help you find qualified renters for the unit. They do all the work you are making the money. A win, win situation.

Running a condo isn't all sunshine and rainbows, however. While there are many wonderful good reasons to invest in a condo there are also some that aren't so wonderful. Consider both the pros as well as the cons carefully before investing.