In this day of high real estate value, the ownership of a condo has become one of the more intelligent property purchases. This in combination with the inherent advantages of condo ownership have created a huge demand for condominiums. This, in turn has caused developers to offer more and more in their new projects and has created excellent value for owners and those considering the purchase of a unit. When considering the purchase of a condo unit here are some advantages to think about.
Condos typically have a lower price than single family homes. There are of course exceptions to this rule, buy condos are usually priced approximately 20-30% lower than comparable single family dwellings. This competitive pricing range has opened up the real estate market to many who were previously priced out of the new home market. Condos also offer a great selection of lifestyle choices that are financially difficult to achieve in a typical home. Many of the new complexes feature excellent amenities such as workout and fitness centers, swimming pools, games rooms and more.
Location is another of the attractive assets of condos. Most developments are in areas that are highly sought-after, in the nexus of major cities and urban areas. This fact has made condominiums the smart choice for commuters and city dwellers. There is also an aspect of social interaction that is part and parcel of condo ownership. More and more, condos have become communities unto themselves. Many great friendships and relationships have been fostered by the experience of living in a condo development.
Finally there is a great sense of security that comes with owning a condo. Not only is there the aspect of community and neighbors close by to help in any situation, but there are financial securities as well. With condos being valued as they are, the purchase of a unit is a sound financial decision.