When it comes to looking for a new home, of course, houses aren’t the only option. Maybe you’re considering buying a condo instead? If you’re on the fence about what your next home should be, there are many pros and cons to consider.
Is a condo the right option for you? We’re here to help. Here are some of the pros and cons of condo living to help you make the best decision for your lifestyle.
The Pros of Condo Living
Condos generally have lower price tags than detached homes, which makes them a great first step for those looking to get into home ownership, or for those with a lower budget.
Condo buildings also provide convenience for their residents. Many buildings often feature a variety of other amenities available to residents, including swimming pools, recreation rooms, gyms, and even outdoor gardens. These options are perfect for those who don’t drive or have regular access to transportation.
Of course, one of the most appealing aspects of buying a condo is knowing that you won’t have to do the maintenance you would on a home. Often, these perks include no cutting the grass, shoveling the snow, or taking care of landscaping. Someone is always taking care of those things for you, so you won’t need to put in that work.
The Cons of Condo Living
Living in a condo means that you are abiding by the building’s rules, which can often include factors such as noise restrictions or limitations on exterior and interior renovations. For example, some condos have guidelines as to making your deck larger or what kind of new front door you can install. Some condos also have restrictions on pets.
Depending on your specific condo, you could also be limiting yourself if your family is going to grow in the future. When you own a home, you often have the option to expand or renovate rooms, but in a condo, you don’t have the option to add more space to increase your footprint.
Downsizing to a Condo
If you’re reaching the point of retirement and are looking for a way to downsize on space and maintenance, a condo could be the right choice. This is especially true if you love to travel. Many empty nesters and retirees who like to travel often opt for a condo because it is easier to come and go without worrying about maintenance or security. There is less space to worry about, all of your amenities are in one spot, and you don’t need to have someone come and mow your lawn while you’re gone.
If it’s time for you to downsize, condo living may be calling your name.
New Condo Developments in Niagara
There are plenty of new condo developments in Niagara, some under construction and some in the planning stages. Our team of realtors are always in the loop and know where all of the developments are going within the region, so make sure you get in touch with us to explore all of your options.
If you’ve weighed out the pros and cons and still can’t decide, it’s time to talk to a realtor. Working with a professional will help you feel comfortable with your decision and help you figure out if you’re better suited for a home or a condo.