Buying a condo, which is short for condominium, is not the same as buying a single-family home. \u00a0There are different considerations that need to be taken into account\u00a0prior<\/strong><\/em>\u00a0<\/strong>to purchasing! \u00a0In many real estate markets, purchasing a condo can come at a much lower price than purchasing a single family residence.<\/p>\n

A condo is typically a shared piece of property with individual owners of each \u201cunit\u201d or condo. \u00a0In most cases, condominiums offer services such as, but not limited to, fitness centers, tennis courts, and pools. \u00a0Many people purchase condos due to less maintenance and also the lifestyle of living in a condominium community.<\/p>\n

When buying a condo, it\u2019s important you\u00a0know that every condominium community is different. \u00a0It\u2019s crucial to know\u00a0each community will have their own community rules, association fees, Management Company, and amenities. \u00a0Depending on the community, there may only\u00a0be a handful of condo communities but there also could be hundreds, so do your research!<\/p>\n

Condos can be more affordable options for first time home buyers. In many areas, a condo may be priced a bit lower than the average purchase price of a house. A lower purchase price means a lower down payment and less money to come up out of your pocket.<\/p>\n

Property management company Handles Landscaping\/Improvements<\/strong><\/p>\n

<\/iframe><\/ins><\/ins><\/ins><\/div>\nCondos have a\u00a0Property Management company that governs the development or complex. There are rules for each condo community. By paying a monthly fee to your Property Manager, they handle all of the outside common areas of the condo complex or neighborhood. That means you don\u2019t have to stress over maintaining landscaping, doing weekly yard work, or making repairs to outer fences and parking areas. If you prefer to spend your weekends on relaxation and recreation instead of mowing lawns, a condo might be the right fit for your lifestyle.<\/p>\nCustomization Inside<\/strong><\/p>\nCondos belong to you, the owner, and that means you don\u2019t need anybody\u2019s permission to paint your inside walls the color you\u2019ve been dreaming of. You can hang pictures on the walls and renovate inside as you see fit, just like you would inside a house. Condo ownership puts you in more control than you had as a renter.<\/p>\nCommunity Amenities<\/strong><\/p>\nCondos vary, but there are many that offer community amenities, similar to apartment complexes. These amenities might include things like a swimming pool, clubhouse for use, fitness room, walking trails, or even group recreational activities. If you like the extras but can\u2019t afford to get them all with a house, a condo complex with plenty of amenities may be just what you\u2019re looking for.<\/p>\nInvestment Property Possibilities<\/strong><\/p>\nCondos for first time home buyers can turn into investment properties down the line. When you\u2019re ready to make the next move in your homeownership journey, you can decide whether to sell your condo or turn it into a rental property and add to your income stream. Be sure to consult your accountant as you look at how investment properties might work for you.<\/p>\nOnce you\u2019ve considered the benefits of investing in condos for first time home buyers and\u00a0asked yourself the right questions, we\u2019re here to help you take that next step.\u00a0Homeownership dream waits!<\/p>\n","protected":false},"excerpt":{"rendered":"Buying a condo, which is short for condominium, is not the same as buying a single-family home. \u00a0There are different considerations that need to be taken into account\u00a0prior\u00a0to purchasing! \u00a0In many real estate markets, purchasing a condo can come at a much lower price than purchasing a single family residence. A condo is typically a shared piece of property with individual owners of each …<\/p>\n","protected":false},"author":1,"featured_media":18783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[]},"categories":[2,3,4,5],"tags":[6,9,10],"_links":{"self":[{"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/posts\/198"}],"collection":[{"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/comments?post=198"}],"version-history":[{"count":2,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/posts\/198\/revisions"}],"predecessor-version":[{"id":18785,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/posts\/198\/revisions\/18785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/media\/18783"}],"wp:attachment":[{"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/media?parent=198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/categories?post=198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ramahomesltd.com\/wp-json\/wp\/v2\/tags?post=198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}