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Why Condominiums Are A Sound Investment

May 9, 2008
Many people are making the decision to purchase homes instead of renting. Purchasing a home is the single biggest purchase you will make in your life. It is important to know what you want before you start house hunting.

In the past, there were very little options when it came to purchasing a house. Today, there are many different style homes traditional, townhouse, and condos. They are much easier to purchase then a traditional home.

Another reason that people choose to purchase a home is for investment purposes. Certain areas of the country offer higher resale value. Real Estate Condos in West Virginia offer a very high resale value for their condos, mainly because of the area of the country.

Condos are an excellent starter home, they allow you to build equity as well as your credit, and this has many advantages. Many people choose to live in their condos, however there are some who purchase them purely for the investment potential.

Real Estate Condos in West Virginia can be purchased relatively inexpensively. Many people choose to purchase condos and renovate them. Because the price is usually reasonable, there is room to make any changes that are needed.

If the condo is bought in order to flip it, doing renovations will allow the owner to sell the condo at a higher purchase price and make a very nice profit.

There are many ways that Real Estate Condos in West Virginia can turn a profit. Another way for that profit can be made on Real Estate Condos in West Virginia is to purchase it and Rent it out to tourists. There are many attractions in West Virginia and when renting a condo on a weekly or monthly basis can also yield a very nice profit.

Choosing to live in a condo community has many advantages. There is virtually no maintenance; no sanding or salting in the winter, off street parking is available for either one or two cars, and many condos offer a pool and fitness center. When you live in a condo, you and your neighbors become friends quickly. Many people have found that the best times that they have had were living in a condo. It is for this reason that people choose condos over traditional homes.

Higher end Real Estate Condos in West Virginia offer multi levels, incredible views, and boat slips for sailing on the river. These are the types of condos that when renovated can sell for millions of dollars. It is the ideal investment for anyone who wants to make money.

The only disadvantage to purchasing a condo is that there are monthly association fees. These fees are in addition to your mortgage, insurance and monthly bills. Although at first glance you may think that the association fees are high, consider the cost of maintaining a traditional home is enormous. A roof repair itself can send you into debt. When you purchase a condo, the association fees cover all maintenance, allowing you to live in a stress free, relaxing environment.
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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