If you don’t have the time or cash sitting around to replace a roof or paint the outside of a single-family home, condo living is ideal. From cutting the grass to cleaning the pool, condo maintenance is handled for you by the building owners or management company. Your maintenance responsibility typically falls within your walls. Read the condo by-laws and regulations as buildings can vary, but usually anything beyond what you can see inside the condo is not your responsibility.
Many condominium buildings will offer a swimming pool, spa, and fitness center. In addition, weekly game night and summer BBQs are a great way to get to know your neighbors and enjoy all that condo-living has to offer. Tenants of your unit will appreciate the amenities offered that are difficult to find or very costly with single-family homes.
High-tech security systems, doorkeepers, and front desk personnel who monitor incoming guests all help keep condo residents safe. For young professionals or empty nesters who are constantly traveling, the added security is a nice feature in a rental unit.
The National Association of Realtors (NAR) reports the average single-family home sold for $260,000 in August 2018. Comparatively, the average condo sold for $248,200. Market will differ, but the asking price for a condo is typically less expensive that single-family units in the same area.