If you've decided it's time to stop renting and start looking into buying a home, you've probably wondered whether a condominium or single-family house is the best fit for you. While both options come with their distinct advantages, many homeowners find that owning a condo is preferable when considering factors like convenience, price and safety.
Increased convenience and security
Most condominiums are located near urban centers that have a wide range of restaurants, theaters, events and countless other entertainment options — all within a 20-minute commute. Say goodbye to rush-hour traffic and the never-ending cycle of car commuting that often comes with owning a single-family home. Owning a condo, you'll be able to walk, bike and take public transportation wherever you need to go.
Living in a condominium is also a great way to find an immediate sense of community with many different neighbors in the same building. You'll find that by taking advantage of some of the shared common spaces, like the pool, fitness center or rec room, you will increase your chances of meeting your neighbors and forming new friendships.
Living in a condo, you'll never have to worry about installing your own security system as you would in a single-family house. Instead, you'll benefit from your condo's professional security protocol, which can involve the use of keyed entrances, security systems, security cameras and around-the-clock guard staffing. You'll never have to worry when you leave your condo for weeks or months at a time, as access is often tightly controlled. Even without these features, living in close proximity to all of your neighbors is inherently more secure than living in a typical single-family home.
More affordable with less stress
The cost of buying a condo is often much cheaper than the cost of buying a single-family home. Not only that, but the bill-paying process is much easier. Instead of remembering to pay several individual bills each month, condominium owners simply pay one monthly maintenance fee that covers utilities like water, sewer, trash and heating/air conditioning. Many maintenance fees also include property insurance coverage, so owners only need to insure their personal possessions.
Owning a condo also eliminates the need to worry about some types of property maintenance, such as roofing, air conditioning or any other shared property or utilities. This alleviates much of the stress that can come with owning a single-family house, while also saving even more money on repair bills.
If you're looking into finding a new place to call home, take some time to consider the benefits offered by condo living.