Living in a Condo: Maintenance is Covered
In most condominiums, the homeowner’s association is responsible for most of the building maintenance, including common property like as windows and heating and cooling systems.
If you are looking at moving into a condo, find out what maintenance is covered by the HOA and what you are responsible for yourself. You might be surprised by how much is covered.
Living in a Condo: No Shoveling or Landscaping
In snowy climates, waking up early for work to scrape off your car and shovel the sidewalks is a ritual you could live without. With a condo, shoveling sidewalks and driveways is included with your HOA.
The same goes with gardening, raking up the leaves, and any other landscaping work. If you have to park outside, you still may have to scrape off the ice in the winter, but the rest of it is taken care of by the HOA so you don’t have to worry.
Living in a Condo: Built in Community
Living in a single family home, you may never really get to know the neighbors. In a condo, you typically run into building neighbors much more frequently, and that community can lead to great connections and friendships.
The occasional holiday party, barbecue by the pool, and annual HOA meeting provide another excellent opportunity to make friends and grow your network.
Living in a Condo: Shared Costs for Great Amenities
Swimming pools, elevators, and property managers are something reserved for the wealthy and those who live in a condo. Pool and elevator maintenance is very expensive, but sharing the cost with others in your building allows you those great amenities without going completely broke.
Even better, some buildings have a gym that can replace your expensive monthly membership. That could end up saving you money!
Living in a Condo: More Affordable
As long as the HOA fees are not completely out of control, condos are typically less expensive than detached houses. While you do share walls with your neighbors, you spend less on the purchase price and monthly utilities in most cases with a condo.
Again, the homeowner’s association fees can turn a great condo into an expensive nightmare, so always understand every cost associated with any property you intend to purchase. If you find anything confusion, ask your agent to clarify.