The largest pro of living in such a dwelling is based on not having the responsibility of taking care of things such as lawn care along with other forms of maintenance that are an inherent part of home ownership. A Irwell Hill Residences Floor Plan is truly a carefree life and often has expensive amenities you can't inexpensively discover in a single family dwelling, such as swimming pools, gyms and clubhouses.
There are several cons to residing in condominiums. All condos have rules how you may behave. Some don't let pets, exterior decorations and old junk cars. Also a condo Is definitely an apartment, and therefore you must be mindful of any behavior on your part that may disturb your neighbors.
If you are looking to buy a condo for investment purposes, there's also a few advantages and disadvantages you should be aware of ahead of time. This article will tell you about some of them so that you can make an educated decision about rather condo investing meets your needs.
PROS
1) Resell Value
One of the primary pros to owning a condominium is the resell value. Condos are very popular and a home in the right area can bring a premium in either resale values or rental rates.
2) Lower Purchase Price
Even if the condo is in an area with extremely high property values it will be much less expensive to purchase then a typical single family home. This is due in part to the shared expenses of property maintenance. However, as a rental unit an apartment will bring in the identical or near the same amount in rent as houses will.
3) Restrictions
The restrictions on pets as well as other things that are inherent with a condo and strictly enforced assistance to maintain the property worth of the home. There won't be any junk cars, broken down washing machines, or overgrown yards to worry about when it is time and energy to resell the machine.
4) Cost sharing
That one is both a professional and a con, sharing the cost of any major repairs can be a good thing. If however you find a good deal for a condo that requires a few major repairs sharing the expense with others helps a whole lot.
5) Amenities
Most condominiums offer excellent amenities you can't find in just one family dwelling. Things like fully equipped gyms, private pools, golf courses, and tennis courts that you don't need to perform maintenance on are great perks in terms of renting or reselling the home.
6) Maintenance Man
logged pipes, blown fuses and other such things can be quite a nightmare for any landlord to manage, but with a condominium a maintenance man is usually included and covered below your condo association.
7) Landscaping
Using a condo the landscaping and yard work are cared for for you. You don't need to lug out a whopping mower or trim bushes and branches for the tenants. The fees for this service is included in your condo association dues and are much less you would then pay when you hire someone to get it done for you.
8) Security
A clear chair house could be a target for vandals and theft, not with a condo. Most condos have some form of home alarm system in place, key codes on doors, guards on driveways or even guards that walk around regularly. Using a condo you never have to worry there's always someone around to maintain an eye on things. That can even be said for emergencies within the home, like fire or even a broken pipe. With a condo someone will often notice a problem and takes steps to regulate it.
9) Second home with an income!
An average condo which is fully furnished can rent for between $2000 and $5000.00 per week in the right areas. You are able to rent your condo out if you are not using it and still have a pleasant place to continue vacation.
10) Help finding renters
Most condos can assist you find qualified renters for your unit. They do all the work you are making the money. A victory, win situation.
Running a condo is not all sunshine and rainbows, however. While there are many wonderful good reasons to invest in a condo additionally, there are some which are not so wonderful. Consider both the pros and the cons carefully before investing.