Condo's and Townhouse Living Pros and Cons
Condo's and Townhomes offer a different lifestyle experience and it works for some people and certainly not for others. Lets take a look at the Pro's and Con's of buying and living in a condo or townhome complex and you can decide for yourself.
Disadvantages
- They share common boundaries with at least one other property
- In a Condo, the upstairs neighbor can be noisy and walk with "heavy" steps
- They are normally in communities that are fairly densely populated
- There are rules that govern how you live and what you may and may not do to encourage harmonious living
- Association fees are payable to maintain the properties
- There are restrictions regarding outdoor maintenance, color palettes and additions
- Privacy can be an issue living in close quarters to neighbors
- Financing for a condo can be more difficult to secure than financing for a townhouse
Advantages
- Offers a lock up and leave type lifestyle
- Amenities such as a pool, tennis courts, playground often form part of a Condo or Townhouse complex
- Outdoor maintenance is generally carried out as part of your Home Owners Association fees
- The gardens are mostly maintained by the Home Owners Association as part of the HOA fees
- Amenities are maintained by the HOA as part of your fees
- Uniformity has its pro's when selling a home
- Neighbors cannot leave an untidy outdoor garden and driveway, possibly devaluing your property in the process because of HOA rules and regulations
- Neighbors cannot paint their property in just any colors as there are rules and regulations governing the scheme
- Your energy and utility bills are lower than a single family home
- Your week ends are not spent maintaining your property and garden
As you can see, there are a great many advantages to owner a condo or townhouse. It really depends on your lifestyle and how much you want to be involved with your property and the outdoor maintenance and repairs.
No comments:
Post a Comment