Why A Condo Might be Right for You
I get calls more frequently these days from people looking to rent.Â I have one listing in particular which is a Condo in a very convenient location.Â People inquire whether they could lease the property and say they have 1000 - 1200 a month to spend.Â WHAT?Â Then why aren't you buying?Â Of course, some of it could be a credit issue, but seriously you could have a heck of a house here in Indiana for that money.Â If a person is not ready to commit to a home and the upkeep, buying a condo could be the perfect option.Â For one thing, their monthly payment would be significantly less than the $1000 they are willing to lay out.Â Secondly, the HOA (home owners association) takes care of maintenance and upkeep out doors.Â
Condo's have become very affordable and you can find in my area 2br 2ba condo in the 70-80k range.Â A 3 br2ba in the 90's.Â Many of these condo's have been built in the last 5-7 years.Â
So who is a condo right for?Â Practically anyone!Â In my opinion, I see young professionals benefitting from the investment, and the practicality of owning a home without spending their down time mowing the lawn etc.Â I see families with children.Â No, there is not usually much yard space for playing, but many of these communities offer parks and pools in the community.Â I see people looking to downsize in retirement and enjoy the fact that they have a home that they can come and go as they please, travel, and not have to worry about someone mowing the lawn and watering the flowers while they are away.
There are many styles to choose from, such as a 2 story townhouse type,Â side by side, or the 2 story with neighbors above and to the side.Â
So, before you rent, consider the condo.Â In this market, it is very affordable and practical for almost everyone!