6 Advantages of Owning a Condo

by Jodie Franklin 08/16/2020

Photo by Wes Hicks on Unsplash

Owning a condo can provide you with the best of both worlds. While you own your unit, ownership of the common areas, land and building are shared. The other members of the condo association share costs with you. Either a property management company or the board of directors is responsible for making any big decisions. 

There are a number of advantages of condo living but there are six big ones: 

1. No Outside Maintenance

Regardless of the season, there is always outside work that needs to be done. Thankfully, if you live in a condo, then someone else is responsible for mowing the grass, pruning the trees and shoveling the walks. You also won't have to worry about making any repairs to the outside structures. The condo fees that you pay monthly are designed to pay for these services. 

2. Customize Your Space

If you rent an apartment, you're usually limited in the ways you can decorate. This isn't the case when it comes to condo living. You can paint the walls to suit your tastes, hang pictures wherever you like and even renovate to create the perfect space. 

3. Access to Amenities

Many condo buildings offer amenities that aren't included in many homes or apartment buildings. Tennis courts, a gym, basketball courts and a swimming pool are just a few of the popular options. 

4. Prime Location

Living space in a major city can often be difficult to find -- not to mention expensive. Opting for condo living often provides a practical solution to this issue. You'll also be able to enjoy easy access to things like shopping, cultural events, dining, public transportation, work and more. 

5. Share Major Costs

Typically, a portion of your condo fees are earmarked for a reserve fund. This is used for major repairs like replacing the roof, renovating the exterior or repaving the parking lot. In the event that the reserve fund isn't sufficient to pay for a needed expense, you won't have to bear the cost alone. Instead, it will be equally shared among all the condo owners. 

6. Extra Security

Some condo buildings have a secure entrance, are gated or have a doorman. Having neighbors that live beside you might make you feel safer. If you travel, you won't have to worry about your home as much. 

Condo living can allow you to enjoy the freedom of homeownership without the negatives that sometimes go along with it. A local real estate agent can help you find a condo that meets your needs. 

About the Author
Author

Jodie Franklin

I love helping people find their dream home or sell their house in order to achieve their next goals. I have been working hard for my clients for over 15 years throughout southeast Michigan. I have experienced every kind of transaction there is. 

Helping my community and being involved is extremely important to me. I am Past President and current board member of the Michigan Ability Partners board, which helps Veterans and people with disabilities reach independent, self-supported, and satisfying lives. I am also a member of the City of Milan Tax Review Board and Zoning Board, and involved in Milan Main Street. I have been a major sponsor of events for Michigan Ability Partners, Aid in Milan, Milan Main Street, and many more organizations that wok to make our communities better. 

I was 2018 President of the Ann Arbor Area Board of Realtors, Realtor of the year in 2016 for AAABOR and nominee for Michigan Realtor of the Year. I serve on many committees with the local board and was a member of the Housing Opportunity Committee for the National Association of Realtors (2018-19).