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Why It Can Be Better To Live In A Condominium Than A Tradional House

Mar 30, 2008
Everyday, more and more people are making the decision to purchase a home. Whether they want to start a family or just get away from the rental market, they choose to invest in something they can call their own instead of paying rent to someone else.

There are many things to take into consideration when you make the decision to purchase a home, the biggest being whether to buy a traditional home or a condominium. Many people are concerned that condominium space is limited. However, in today's real estate market, condo's can be one level or multi-level and have multiple bedrooms.

Traditional homes are nice. However, they require a lot of work. Many people work long hours and do not want to come home and work even more to do house maintenance and home improvement. Traditional homes require a lot of upkeep, and for this reason, more and more people are purchasing condos because of the advantages they have. The advantages of condos over a traditional house are as follows:

* Maintenance: Condo's have virtually no maintenance. In a traditional home, you have to mow the lawn, shovel snow, repaint, and pay for costly repairs should they arise. When you purchase a condo, all of your condo association fees pay for all of the upkeep of your condo as well as any repairs that need to be done. This can save you a lot of money in the long run, and many people choose to purchase a condo exactly for this reason.

* Investment potential: When you purchase a condo, you can renovate the inside and make upgrades that will increase the condo's value. This creates an incredible investment potential, and if you decide to sell, you can earn a substantial return on investment.

* Neighbors: When you live in a condo, you live in a special community where you develop friendships with other condo owners. It is much different then owning a traditional home. Living in a condo community offers more of a social setting than a traditional home.

* Starter home: Condos make good starter homes for many reasons. Often times, a traditional home requires a huge down payment. Condos require a fraction of that cost and can offer you the same luxury. Over a period of time, you can build your credit rating and in the future, should you decide to purchase a traditional home, you will get a much better interest rate. It is important that you make all of your payments on time, as it will reflect in your credit rating.

As with a traditional home, the amenities that are associated with the condo directly affect the price. If you choose to purchase a condo with a pool or other outdoor activities, the price may be higher. However, the time spent outdoors may well be worth the extra cost. Many condo communities offer fitness centers and even quiet gardens to read in as an enticement to prospective buyers.

Some people are hesitant to purchase a condo because of the association fee's that are attached. However, when you stop and think about it, paying association fees relieves you of any expensive maintenance problems. And, there is no physical labor involved if you live in an area where there is a lot of snow to shovel, and, all of your yard work is taken care of so all you have to do is sit and relax after a long day of work. Condo owners all agree that it is well worth the cost of association fees to not have to deal with maintenance.

Living in a condo has many advantages, and very few disadvantages. When you live in a condo community, you form lasting relationships with your neighbors that for many last a lifetime.
About the Author
Peter Geisheker is the CEO of The Geisheker Group
marketing company. Peter develops and implements strategic marketing programs for businesses including real estate developers and
West Virginia real estate .
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