Anyone interested in buying a home, but do not want high maintenance requirements or can not afford a house, might consider purchasing a condo. When purchasing a condominium the buyer is agreeing to buy all the space within the walls. Everything on the outside of the condo is owned by an association. The outside area includes the exterior of the condo, landscaping, driveways, near by roads and any other area located outside on the property. Condos are a great buy, but to determine if they are right for you there are some pros and cons to consider.

Condominiums are usually conveniently located in places like downtown locations, or within walking distance of buses, restaurants, shopping, schools, churches and medical facilities. It also gives a sense of security to many people who feel safer having close neighbors. This is especially true when it is time to travel or go on vacation. Often time neighbors will what another neighbor\’s property while they are away for a short period of time. Some condos also have security guards, buzzers and gates with security codes.

Another pro for living in a condo is the low maintenance. A maintenance crew takes care of the plumbing. No need to mow the front law or backyard, and someone else will shovel the snow. Even more this kind of housing is affordable. The prices will always vary and are very affordable to first-time buyers and singles who can not afford family housing.

Amenities are a good sell point for condos. Most places offer many types of amenities like a gym, pool, play ground, computer lab or tennis court. Another perk is the condominium association. Each owner is a part of this association. The association has an elected board that is responsible for repairs and maintenance issues, along with enforcing policies or bylaws. They handles disputes between neighbors as well.

There are a few cons to condominium living. The unite owner never owns the land underneath them or around them. They will only own the space between the walls of their condo. Common areas are shared with others in the neighborhood. There is little storage space and bedroom do not typically exceed 3 per condo. The space is not too large either. Sometimes the rooms and restrooms are small. Consider how much space is needed in the home. Consider how much time will be spent in each room.

Sometimes there is not a lot of privacy. Sharing a wall means hearing the neighbors next doors from time to time. Also, there are condo fees, which must be paid monthly. This is for repairs and landscaping maintenance. Sometimes there are assessment fees for more extensive repair jobs. Some parts of the fees go to up-keep amenities.

If moving from a home to a condo, the association might come across as weak. It is made up of home owners not property-management professionals. At times they have been known to be inefficient. In addition, renovations of a personal unit might need the approval of the association.

Before moving into a condo consider everything involved. Visit the location, talk with owners and find out what they like or dislike about the neighborhood. Learn the rules and understand the bylaws. Put all the information gathered together to make the best decision.

Author Bio: Finding the right Toronto condos for sale can be tough. Our experience real estate agents can help you find the best Toronto lofts for Sale. Find you’re the perfect condo for sale today!

Category: Real Estate
Keywords: real estate, home, house, property, family, condos, apartments, finance, business, society, housing