Condominiums are sort of like a cross between an apartment and a house. You get the convenience of less maintenance, but the satisfaction of owning your own home. So who might a condo be right for? Lets have a look at the advantages and disadvantages of buying a condo here in Northeast Ohio and beyond.
Advantages and Disadvantages Buying a Condo
Low maintenance. If pulling weeds, mowing, raking, shoveling mounds of snow, and investigating leaky roofs is holding you back from home ownership then a condo may be worth considering.
If you enjoy gardening and have always wanted to own acreage then condo living may not be for you.
Amenities. Some condominiums offer pools, tennis courts, gyms, and more.
If you have a problem sharing the features that are offered and would prefer your own personal amenities, or simply are not comfortable in social situations then a condo may not be for you.
Lower price than comparable homes. This depends on the area, the market, and the size of home but generally you can find condos that compare to similar homes for less.
The downside to the lower price tag is that condo owners generally pay association fees that go towards the incurred fees for maintenance and upkeep of the property and grounds. These fees can vary widely and it’s best to investigate further.
Sense of Community. Living in a condo leads to some opportunities to socialize with other condo owners since you’re in close proximity of one another. You might end up hitting it off with some of your new neighbors.
The bottom line here is you’re more than likely going to hear noise from neighbors from time to time. This can vary from music to screaming kids and barking dogs. If you work from home or require complete quiet for lengthy periods of time this may not work for you. This will also depend on the location of your unit.
Safety. Many condominium communities offer safety features such as being gated , or having a telecom system at the entryway.
Some of the same reasons that make condos safe can also make them annoying to some people. Condo communities have sets of rules and regulations which vary widely from being very relaxed to extremely strict. If you would rather not have to deal with such things a condo may not be a good fit for you.
Overall condos can be great for many potential buyers. Younger professionals just getting started and looking to purchase a first home, retirees whom are looking to downsize, those who enjoy apartment type lifestyles but are ready to have something to call their own.
If you feel that you would be okay with most of the above it would be beneficial to get out and see some condos in the area. It’s also smart to compare the rules and fees for several different condominiums before deciding on potential communities.
I really enjoy taking clients to view condos in our area. I generally work in Summit County, Stark County, Tuscarawas County, Wayne County, Holmes County, Carroll County, and Coshocton County in Ohio. Give me a call at (330)232-5455 or fill out my contact form if you’d like to schedule some showings. It never hurts to take a look, after seeing a few condos you may realize it’s the perfect situation for your life, or not for you at all.