In 2010, condos were on a downhill slope with a reduction in the total number purchased. However, financial experts suggest that these statistics are expected to see an overturn in the next coming years making the condo the go-to place for you to live. There are many advantages to purchasing such a piece of property and I like to tell my La Quinta real estate clients that condo?s just make sense if you want low upkeep to enjoy the fun of life rather than having to maintain it.
1)????? Minimal Upkeep
Along with many other benefits, one of the best qualities of a condominium is the reduction in the amount of upkeep. Many times you as the homeowner are not responsible for mowing the lawn, shoveling the sidewalks or any of the upkeep outside of your actual living space such as the lobby, hallways, etc. This can be a great benefit for individuals who are often too busy to keep up with the extra maintenance work a home often requires.
2)????? Location
There are also many benefits to be found in the location of most condominiums. For example, it is often in the downtown areas that have a lot of opportunities for socializing and entertainment. Health facilities are often more easily accessible as well. Another bonus with regards to location is the availability to jobs with less distance to travel. It also allows for easier access to transportation and other assets that make socializing, health, and income easier. Some of these added bonuses include:
- Restaurants, cafes, and coffee shops
- Theatres, Piano and Sports Bars
- Shopping Centers
- Spas, Nail and Hair Salons
- Massage and Chiropractic Services
- Hospitals, Wellness Facilities, and Private Physicians
- Business Corporations, Banks, and Various Firms
- Easier Access to Public Transportation
3)????? Amenities
Another component that makes the condo more appealing to my clients than owning a home is the amenities found within the facility itself. Homes do not often have many added bonuses that the owner does not directly have to pay for. Condos, on the other hand, often will provide additional services within the building. This creates greater lifestyle appeal for the busy socialite or business professional. Some of these extra amenities include:
- An Exercise Facility
- A Spa with Therapeutic Services
- A Pool, Hot tub, or Sauna
4)????? Current cost
As with the rest of the home market economy, the cost of condominium housing is down greatly. Thus, now is the time to purchase a condo before the prices begin to increase in the next few years. As the economy continues to improve, the cost of housing will also increase. Now is the perfect time to purchase a home as the prices are down and will rise in the future.
This only will increase the value of your home in the next few years. Also, condos cost more than houses per square footage as a general rule. However, with the economy downhill slope in the recent years, the price of the condo has gone down drastically as less and less of are being sold. Thus, by purchasing a condo now may actually dramatically increase the cost per square footage in the future. In addition, you then can add the extra amenities to the cost as well.
Now is the Time for a Condo
Ultimately, now could not be a better time to purchase a condo. Condos provides the ideal setting to fit within the world of money and entertainment as well as downtown location. In addition, the value of the condominium will only continue to increase in the next few years as the market begins to see improvement. Think about what lifestyle you are looking for; the condo may be the perfect home for you!
Source: http://www.wannanetwork.com/2012/02/03/why-condos-make-sense-now/
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