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Benefits of Buying a Condo

Hayi Mansoor

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There are several individuals and families who own condos in some of the hip places like downtown or near the city center and are really happy with their purchase. But the truth is that they had to do a lot of research to find the right type of condo. Just because a condominium development looks great on the outside doesn't mean that all the facilities or amenities promised by them will be in place. Most experts from the trade would say, “Research first - buy later!"

One of the greatest benefits of a condo is convenience. Now when you buy a condo, you become a part of an association that has been formed to take care of all necessary maintenance of the condo units. You don't have to run around to get people to fix a leaking tap or clear the snow from the common car parking. That is the condo association's job and of course, you will pay the association a certain amount of maintenance fee each month. All you have to do is keep paying the maintenance charges and in case you need someone to fix the leaking tap, just call the association and they will take care of it.

The second most important benefit is security. Most condo developments have their own guards and hence the security is much higher as compared to single family home. Some of the condominium developments even have CCTV cameras installed with the area so that they can create a sense of security and make owner of the condos feel safe. You can probably leave your elderly parent at home without having the fear of day-light burglary or any other un-social event.

The third important benefit is that if your condo is in a well-situated part of the city then it is the best real estate investment you can ever have. In a couple of years only, you will notice a considerable appreciation in the value of your condo and most of the times it will remain constant. So if tomorrow, due to whatever reasons, you have to sell the condo, you can do so without incurring losses or you can sell it for as much as 15-20% more than what you had actually bought it for. This is one of the reasons why condos are being considered as a sound investment.

The fourth important benefit of buying a condo is that you become a part of the condo association and hence can use any of the amenities available there. There are several condo developments that offer multiple amenities or facilities. Depending on how big or small the condo development association is, you will be able to avail of facilities like athletic club, basketball court, lighted tennis courts, putting green, playground, dog park, sand volleyball court, swimming pools, Jacuzzi, children's pool, state-of-the-art gymnasium and fitness facility, cabana, aerobics center, locker rooms, multipurpose room, dry heat saunas, conference room, massage parlors, grocery stores, car washing, and much more.

For further information, please visit Find Real Estate Agents

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