The leap from being a renter to full-blown homeowner can seem enormous and sometimes intimidating. Purchasing a condominium can be a solid stepping stone to eventually owning a house, but with more lenient responsibilities and a chance to acclimate to homeowner life. Here are some pros to pursuing a condo instead of a house.
Depending on your finances, income and possible student debt, buying a house might exceed the budget. Though it depends on size and value, condos are usually cheaper than houses. Price can vary depending on location, however, so googling palm springs condos for sale, for example, can return different price results than those in another part of the country or city. It’s good to factor location into your search when scouting out your new home.
One of the greatest responsibilities to owning a house lies in the surrounding property: you have to take care of the outside just as much as the inside, otherwise you’re likely to have a neighbor complain or the city write you a fine. In a condo, you don’t have to worry about any of the exterior maintenance. Instead of paying a homeowner association fee, you’ll pay a fee to the condo association that will subsequently cover costs to have them manage all necessary maintenance, such as snow removal and lawn mowing.
Community and Amenities
While housing developments can involve more separation between neighbors, condos present a unique opportunity for a tighter-knit community. Since everyone is invested in the same building, many of the larger costs can be shared among each individual condo owner. Condos can also some with perks like shared swimming pools and recreation rooms, creating an inviting atmosphere to better know your neighbors.
Even if you move onto owning a house in the future, a condo is a great way to get your foot in the homeowner door. Add the perks of less maintenance and a greater sense of community, and you just might decide to remain a condo owner for longer than you ever imagined.