The Pros and Cons of Condo Life

The Pros and Cons of Condo LifeAs does everything, condo living comes with its perks and its downfalls. For many, a condo is the middle road between an apartment and a house, and depending on your current life situation, it could be the right residence for you. The key is to simply find what it best suitable for your needs and navigate towards that. There are many pros and cons to condominium life, and it may help to take a little time to learn about each.

Advantages

Buying a condo is relatively cheaper than buying a house. Obviously there are many factors that go into this, like size, the area’s cost of living, and the neighborhood property value; however, typically condos are cheaper than houses. If you are just simply looking to spend less, than a condo may be the way to go.

With owning a condo you do not need to worry about maintaining your own yard or landscaping. You will pay relatively small fee to the association, so all of the maintenance work is taken care of for you. This is very appealing to people in the market for a condo. Other required maintenance like roof repair would also be covered. It can take some burden off your back by knowing it’s not your duty to fix everything.

The condo lifestyle normally comes with a greater sense of community. The close proximity of day-to-day tasks such as retrieving the mail or taking the trash out leads to more frequent interactions. Bumping into neighbors in community spaces like the pool areas or recreational rooms is also common, so condo residence might be the right decision for those seeking a more social living situation.

Disadvantages 

There will be certain condominium rules particular to your complex that you’ll have to abide by. If you are someone who needs to have complete control of their own space, then a condo probably will not be for you.

If privacy and space is high on your “must-have” list, then a house is the best option for you. While living in a condo, you are sharing space with other units. It is almost always that case that units are sharing multiple walls with multiple neighbors, so you may have some sound issues arise as well.

Location may be a deciding factor for you. Generally, most condos are in the middle of a city. This is solely dependent on what your personal properties are. If you are seeking urban living than a condo might be the way to go, but if you are looking for a rural life than that might be difficult to achieve with condos.

About Tri-State Insurance Agency

At Tri-State Insurance Agency, we want to ensure your high-net-worth homes are protected during the holidays and year-round. Our homeowners’ insurance policies are designed specifically to protect affluent homes like yours. To learn more about our coverage options, contact our specialists today at (973) 579-6776.