The Truth About Living In A Condo

Dated: August 13 2018

Views: 36

Are you in the market to purchase your next home? If so, you may be asking yourself- is getting a condo the better choice for me?

Living in a condo has its advantage and disadvantages. Read on to see if condo living fits your lifestyle and current needs.

Amenities

Pro:, fitness center, clubhouse and sauna would be expensive to add and maintain for a single family house. But these amenities usually come with condos. Access to these great features can really enhance your daily life!

Con: The downside? If you rarely use these nice amenities or you’re just not that interested in them, you still have to pay for it as a part of you association fees.

Maintenance

Pro: This is a big appeal when living in a condo since your association will take care of most, if not all of your maintenance and repair needs. You won’t have to cut the grass, fix the roof or even think about snow removal. It’s all taken care of!

Con: You may not have the ability to assess on your own when maintenance and repairs are needed. In some situations, there might be special assessment charges for unexpected repairs.

Security

Pro: Some condos have locked entry doors for added security and higher end condos may be in a gated area.

Con: For some, there may be less privacy since there is always staff or neighbors around common areas.

Community

Pro: You’re living in close proximity with other people and belong in the condo community. You’ll find yourself being more active and involved. There are lot of chances for engagement and relationship building around the lobby, pool, lounge and gym. Most condos put on social events for residents as well.

Con: You can’t pick your neighbors and they are just on the other side of the wall! Everyone needs to be considerate of noise levels.

Affordability

Pro: Some condos are more affordable than owning a home — and monthly costs may be equivalent to renting depending on where you live.

Con: Over time, the cost of the condo association and related fees may increase. Amenities may also change. Certain inclusions can be taken away.

We hope this list helps you in your decision when deciding whether to purchase a house or condo. Your decision will ultimately be based on location, lifestyle and how you view certain freedoms and restrictions on condo living versus owning a house.

 

Now- the fun part! Check out both condos AND homes for sale here or call (907) 570-6757 or 907-720-4663 for an exclusive coming to market soon list. Put our expertise to work for you!

Blog author image

Homes by Vanna

Vanna has called Alaska home for the past 15 years. As a mother, real estate investor and previous business owner, Vanna brings many different perspectives when working for her clients. She has been a....

Latest Blog Posts

4 Tips For New Landlords

Owning a rental property is a great way to develop your net worth and earn some extra income. It comes with a lot of responsibility and can be intimidating especially if it is your first time owning

Read More

Alaska Real Estate Market Update - September 26th - October 2nd, 2020

Here's Alaska real estate market update for September 26th - October 2nd, 2020.On the top of our list is the Anchorage market. During this week, 403 are currently active listings where 62 of which

Read More

What's the Difference Between a Title and a Property Deed?

On your real estate journey, you will hear a lot about the property deed and title. They are both important in owning real estate so it is essential to know the differences between them.A title is a

Read More

Alaska Real Estate Market Update - August 29th - September 4th, 2020

Here's Alaska real estate market update for August 29th - September 4th, 2020.On the top of our list is the Anchorage market. During this week, 416 are currently active listings where 78 of which

Read More