When people are considering buying their first home or a new home, some may wonder if they should choose a single family home or a condo. While both have their advantages, condos can have a lot of attractive perks for many people. When purchasing a condo, you will own the unit itself and have access to common areas and amenities within the community. You typically can make any changes you like to the inside of the condominium (painting, flooring, room remodeling, etc.), but the exterior of the building falls under the association and cannot be altered by individuals.
One of the primary advantages of living in a condominium association is the fact that exterior maintenance is handled by the association. This means no mowing, no painting outside walls, no snow shoveling, and no roof maintenance to name a few things. Many condominium owners enjoy not having to take care of these tasks which can become overwhelming in a single family home. Additionally, most condominium associations have amenities such as community pools and fitness centers. These are also maintained by the association and residents are free to enjoy them. Condo associations vary from simple to luxurious so depending on your desires and budget you can likely find a community that includes recreational activities you would enjoy. Many condominium associations also have security of some kind whether it is an access gate or a security guard. Additionally, there are always neighbors nearby in the case of an emergency. This can provide a sense of relief for those who live alone.
Another benefit to condo living is that condos are often less expensive than single family homes. Down payments are usually lower, the overall price of the unit is typically lower, utility costs are often less in a condo, and property sales value can be driven upwards when the association makes improvements to the building or amenities. While owners do have to pay condo association dues, the overall price may still be lower than a single family home in a comparable location. Also, shared amenities can be a financial advantage since the cost is shared between all residents as opposed to a homeowner having to foot the bill to install a pool or create a home gym.
One of the other factors that condominium residents often praise is the sense of community in a condo association. Since condo owners live in close proximity to one another, there are often moments throughout the day that encourage socialization. You will likely see a neighbor while taking out your trash, walking your pet, or picking up mail. Some condo associations also have social events for residents. Heading to the community pool also offers the opportunity to interact with your neighbors. If you want to make a difference in your association, you can always run for a position on the board of directors or a committee. This will help you get to know your neighbors and play an active role in the success of your community.
Purchasing a home is a big decision and many factors must be considered. It is definitely worth considering purchasing a condominium. With over 25,000 condominium associations in the state of Florida, there is sure to be a community that is a perfect fit for you.