Did you know that 20% of all homebuyers bought a condo last year? Did you know that 33% of those who did were first-time buyers? Many people don’t realize this, but a condo can be a great starter home, investment property, or downsizing option.
When you’re looking to purchase a condo, there are a few things you’ll want to consider and do some research on. Most condos are within HOAs (homeowners associations) and will have a subsequent HOA fee each month. These fees cover everything from yardwork and landscaping to amenities like pools and gyms. You’ll also want to know what the parking situation is like for you and for any guests you might have over.
As far as investment properties are concerned, condos have low overhead, minimal maintenance, and are easy to fill with renters. It’s a great option if you’re looking to start or build your portfolio.
If you’re looking for that built-in community feel with a simplified life, don’t rule out purchasing a condo. If you have any questions at all, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.