27 Nov What are pluses and minuses of buying a condominium
What are pluses and minuses of buying a condominium?
The Twin Cities has had a huge growth in new condominiums, and it has been an attractive alternative to all age groups. Many younger buyers have found it a great first home since it is close to entertainment and restaurant and lots of activities. Many professional people of all ages like it for the same reasons. Many older buyers want to travel and not do lawn work required on a single-family home and decide a condominium is a good fit too.
Pluses of condominium living
This can be a wonderful fit for many reasons. Here are a few.
· Turn-key and leave
· No outside maintenance
· Heating underground parking
· Skyway system to shopping and restaurants and no winter cold issues
· One level living and elevators
· Limited need for a car if in both downtowns
· Having community areas and in building workout facilities
· Amazing views from the condominium
· Close to friends if they live in the same building
Negative aspects of condominium living
There can be some downsides with condominium living. Here are a few.
· Density and lack of privacy
· HOA overreach issues
· Large HOA fees
It is a personal choice
Living in a condominium is a lifestyle change for may of us and we should go into it with our eyes wide open. It is a wonderful fit for many and does not feel right for others. I do know that most of my clients that have purchased a condominium love the lifestyle and freedom it gives them!
If you have any questions about when to sell your home or buy…please contact me.
I hope the blog on this subject was helpful.
Please reach out to me if you have questions about housing in Minnesota at 612-386-8600.
Look for more articles and videos in the future on various aspects of real estate and our state of Minnesota.
Real estate is a wonderful investment!
The Anderson Team