When you’re determined to purchase your own home, it doesn’t have to be a single-family house. Condos make great investments and offer several advantages over other types of residences.
These are just some of the benefits you’ll enjoy when buying a condo:
- Access to amenities. You don’t have to pay for separate memberships to a local pool or golf course. Living in a condo means that you’ll be able to use the amenities your condo community offers, such as clubhouses, pools and fitness center.
- Low maintenance. When you live in a condo, you only have to maintain your living space. You’re not responsible for maintaining the building, grounds or common areas.
- Financial incentives. Owning a condo gives you a chance to build equity, and you’ll also be able to use tax deductions on property taxes and mortgage interest payments.
- A sense of community. Living in a building that has a lot of other units occupied by owners, rather than renters, means that you’ll have a good sense of community. Some of these also offer planned community events.