While there is no one size fits all, owning a condo rather than purchasing a house does undoubtedly comes with lots of perks. You probably already know that in most areas, a condo is going to cost less than a single-family home. For example, the median home price in the Miami-Fort Lauderdale-Palm Beach area in the second quarter of 2018, was $353,000. For a condo, that number was just $198,000, providing a big incentive to consider the condos for sale in Miami when searching for real estate in the region.
While in other markets the price difference isn’t as dramatic, condos are usually cheaper and there are many other reasons to choose one over a house as well.
Location
As condos are smaller than most houses, and more densely packed into building complexes, they’re frequently located closer to city amenities, especially in downtown areas. If you want to be within walking distance from a wide range of shopping, dining, cultural attractions, nightlife and job opportunities, a condo can be a great choice. Typically, condo owners also have a shorter commute than homeowners who often live in more distant suburbs, providing more of that precious personal time.
Amenities
Condos frequently come with a long list of amenities that can make it feel as if you’re living in a resort. Just some of the facilities and features you may have access to include a swimming pool, tennis court, clubhouse, pet park, fitness center, golf course, a picnic/BBQ area, and perhaps even a spa. Those who live in a house usually have to travel to public places to enjoy those kinds of amenities, but condo owners are just steps away.
Limited Repairs and Maintenance
While condo owners are generally responsible for the interior, there are no worries about having to mow a lawn, rake leaves, trim hedges, clean gutters, shovel snow or replace a broken window, as the exterior is maintained by a homeowner’s association. That frees up both money and time, allowing the condo owner to enjoy more vacations traveling to exotic places and/or weekend excursions, lounging around the pool or relaxing at home.
Better Security
While some very upscale homes can be found in gated communities with high-tech security systems, they often come with a very high-price tag. Condominium complexes are more often staffed with guards or gated, coming with those sophisticated security systems, meaning less worries about safety, break-ins and so on.
More Opportunities for Social Connections
As there isn’t as much distance between neighbors, living in a condo means you’ll be surrounded by other units, making it easier to form relationships, enjoying more social connections. In neighborhoods of detached single-family homes, there is typically more distance, and in many cases, even after several years, neighbors have never even met. Condominiums tend to draw like-minded people with similar interests and backgrounds, making it fun to get out an mingle, enjoying gatherings like picnics on a grassy lawn or around the swimming pool.
