Pros and Cons of Buying a Condo
For starters, there are many new Condos for sale in Columbia, SC, for you to choose from. Being a new home buyer can be daunting as you might find yourself with several options at hand and not enough knowledge to choose one that’s perfect for you.
Condos are one of the popular housing options. But how do you know if it is the right option for you or not? Hiring a realtor can help you understand the benefits and drawbacks of living in a condo in more detail, but to help you get a basic idea of the pros and cons of buying a condo, we have written this blog.
What is a Condo?
First, we need to understand what a condo actually is and how it is different from a regular apartment.
A condo is a privately owned space within a building. They are different from apartments as apartments are usually rented rather than owned. Condos are comparatively less expensive than apartments and family homes, and the down payment is also cheaper. When it comes to value, the apartment has better capital growth, while the rise in your condo’s value depends on the market and the area it is located in.
Condo vs. House
Buying a property is a big decision, and people always get confused between these two options since some like condos while others would say traditional single-family homes are better. It actually depends on your needs and preferences. Buying Condos are less expensive than single-family homes, which makes them a cost-effective choice. They are also smaller in size, which makes them easier to maintain. On the other hand, buying a condo might be wrong because there won’t be enough space if you live with your family. You should evaluate your needs before making this decision because both condos and houses have their own pros and cons.
Pros of Living in a Condo
Following are some of the pros of living in a condo.
Condos are not that spacious, so you don’t have to worry about mowing the lawn on your weekend. You can easily spend your days off while sleeping in, as condos don’t require as much maintenance as a family home. A couple or an individual can conveniently live in a condo without worrying about countless maintenance tasks.
Every community might not have it, but there’s a good chance that you will get many onsite amenities in a condo community. There might be a pool, gym, tennis court, community rooms, etc. Many condos even have enhanced security measures like security cameras and gated communities.
When you are purchasing a property to live in, you should remember that fewer rooms are better if you don’t have a big family. If you purchase a traditional house or apartment with big rooms and furniture, you will have that many chores to do in the house. Buying a condo helps you minimize your chores as you don’t have big space, and you can also keep limited furniture. Less space means less work and more happiness.
Cons of Living in a Condo
Following are the cons of living in a condo.
Excessive Noise and Lack of Independence
If you are used to living in a big house in a private neighborhood, adjusting to a condo might be challenging for you as shared walls can cause excessive noise. There’s also a lack of privacy as people live close by. You will also need to be careful about how you decorate your place, as some condo communities restrict the owners. You will also have to restrict the number of visitors you get, and you might not be allowed to keep pets at your place.
Not Enough Space
While not having enough space can be a blessing as you won’t have to do as many chores around the house, it can also be a problem. If you live alone, you don’t need that much space in your house, but if you are thinking of living with a family in a condo, it might not be possible, as a family will require much more space than a condo can offer.
Purchasing a condo can be less expensive, but the maintenance cost for some condo communities can be more expensive than single-family homes. Due to the onsite amenities, owners often have to pay more maintenance costs for lawn cutting, pool cleaning, etc. This depends on the condo community you are living in, but it can be a problem sometimes.
If you are looking for new houses for sale in Columbia, SC, reach out to Michelle Frazier. She has the right amount of experience in real estate to help you find the perfect housing option according to your needs.
Contact her now and let her help you find the condos in your budget.