Buying a new home is a good investment for the future. Instead of paying rent, you can own something that will provide some return when the time comes to sell. Some don’t want the responsibility and maintenance of owning a house, however. This is when buying a condo becomes an attractive option. Many millennials choose the condo life when it comes to their first home ownership investment. Here are a few reasons from one real estate agent in Downers Grove as to why buying a condo might be a good option for you.
The Mighty Dollar
When it comes to costs involved with owning a condo, many think that the mortgage and homeowners association fees will be too much to cover. However, in many areas, the average cost of rent exceeds what you’ll pay for a condo. Depending on the area, the cost of a condo is usually less than a single-family home as well. The size of the condo will likely be less than a home, but it might be worth it for a few years to save some money. When determining cost find out what is covered by the homeowners association of the condo you are interested in to accurately estimate maintenance expenses. It just might be that things like water will be included as well.
Save on the Maintenance
One reason that home buyers like the idea of living in a condo is because much of the maintenance is done for them. This is especially appealing for young professionals that value living in a place that is kept up well but don’t have the time to invest in things like landscaping, mowing the lawn, or repairs around the house. Taking care of shoveling snow in the winter is another chore that is covered by many homeowners associations. This means that condo owners will have more time to invest in career endeavors, socializing, community projects, and other personal goals.
Being a Part of a Community
When you join a homeowners association you enter a new community. Chances are that the other people in the association are much like yourself. This means new relationships with people in your stage of life. Some homeowners associations host community events and projects that can bring people together as well. This is appealing to millennials with social values and making a difference in the community.
Enjoy the Amenities
One last reason that buying a condo might be right for you is the amenities. If you like using a pool in the summer or having access to tennis courts just a short walk from your front door, a condo can fulfill those desires. Some homeowners associations have a clubhouse, golf courses, and fitness centers as well. These perks can really add to your quality of life and require little maintenance on your part.
For more help finding the home that is best for you contact professional real estate agent in Downers Grove IL Paul Titterington today!