Condo living is a viable alternative to buying and maintaining a single-family house. If you’re still unsure about choosing a condominium unit as your primary residence, the following questions can help you decide:
- Is a convenient location a worthwhile trade off for a modest living space?
Condos are a practical choice if you value living close to your place of work or around your city’s main commercial center. Practically everything is just around the corner from where you live – dining and shopping hot spots, recreational activities, community amenities, access to public transportation, and popular area attractions.
The downside is having a more compact, cookie-cutter living space compared to a detached house. Homeowners’ association (HOA) regulations can be quite strict on condo upgrades and renovations.
Also, you cannot expect to have enough outdoor space to tend to a yard or to entertain friends when you live in a condo. At best, you could own a small balcony but not much else.
- Are you comfortable sharing walls with neighbors?
When you live in a condo, a wall or two would be what separates you from your next-door neighbors. In addition, there may also be units above and below yours. This setup makes absolute privacy and quiet living a tall order. While residents have to abide by HOA guidelines and restrictions, there is no guarantee that they are following these rules all the time.
On the plus side, sharing an address with a large number of property owners makes you part of a community with one common interest. That is to see to your living quarters’ general safety and security.
- Do you prefer having repairs and maintenance jobs done by the pros?
Condo living offers the excellent convenience of shared maintenance services. You only have to worry about the upkeep of your private living spaces, because everything else – the building exterior, the lobby, hallways, and other common spaces – is the responsibility of your condo association.
Most condos offer on-site services to address minor fixes needs like faulty plumbing or a busted fuse. You also get front desk services and security personnel on duty 24/7.
- Can you afford to pay monthly HOA fees?
One of the most attractive qualities of standard condo properties is that these are more affordable at face value compared to single-family homes. That is, unless you are buying a luxury condo unit. For you to sustain your condo home, however, you’ll need to pay regular condo fees. These can range from as low as $200 for studio units to four-digit sums for upscale lofts or penthouse units.
These are all worthwhile payments to make the conveniences that you enjoy with your condo possible. From the shared amenities like the gym and swimming pool to the building maintenance services and 24/7 security personnel, budgeting for a monthly fee goes a long way in ensuring a satisfying quality of life as a condo owner.
Find an outstanding condo in desirable Colorado locations like Parker, Castle Rock, and Aurora today. Call me, Sacha Faxon, at 720-940-0099 or email Sacha(at)SachaSellsDenver(dotted)com to schedule viewings at the hottest listings available today.