subject: Reasons To Buy A Condominium [print this page] A place to live is one of the basic necessities of humans. Given the increasing space constraint and the changing tastes of people, there are quite a few options you have if you are looking for a place to live. Among these options, a condominium is one of the best bets you might have.
Here are some reasons to buy a condominium than anything else:
The price factor
A separate dwelling often has a higher price tag attached to it than a condo. When you buy a condo, you get similar facilities and most of the times, similar location at a much lower cost. Usually, there is a difference of as much as 30% between the cost of a condo and that of a separate dwelling in a neighborhood.
There are no leases involved
When you buy a condominium, you get several years to repay your mortgage. Thus, if you are thinking of leasing an apartment, drop the idea immediately. One, you have to get your apartment lease renewed every few years; two, in many cases, you have to take explicit permission for every individual that plans to stay in your apartment. Now, that's not so convenient, is it?
No maintenance headaches
This is one of the biggest benefits of buying a condominium. You don't have to worry about the maintenance and repairs. All that is taken care of by the concerned association of the society you are living in. Of course, you have to pay maintenance charges on an annual basis, but that is so much more convenient than having to run after plumbers, electricians etc. every now and then.
You have the freedom to customize it
Compared to an apartment, that is a big benefit you get of owning a condo. You have the freedom to do changes to your living space as you wish to. You can add entire rooms, change entire floorings, customize it the way you like without getting explicit permission for the same. Thus, every time you need to make changes to your dwelling, you don't have to worry about whether they will be approved or not.
Security
Here comes the benefit of condominiums vis--vis standalone dwellings. With the latter, you often have to arrange for your own security, which can be tedious. However, in the case of a condominium, you get added protection since you live in a gated community with several other people.
by: Phill Jaques
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