condo arizona

The Benefits of Owning a Condo

Deciding to purchase a condo is a big decision both financially and personally. There are many benefits to owning a condominium from that you just wouldn’t have with an apartment rental or owned house. If you have been on the fence about condo owning check out this list of just a few of the best parts of owning a condo.

1. You own a piece of real estate without the headache of the yard and amenity maintenance.

Condos are great because they allow you to actually own a piece of property. Your HOA or Condo board will take care of the hiring and scheduling of outdoor maintenance like landscaping, pool cleaning, pest control, and all those other annoyances of keeping up a yard and the surrounding area. This makes condo living perfect for people who aren’t too handy. All the really difficult activities will be taken care of for you so that you can focus on applying your personal touches.

2. Condos are better maintained that rental properties.

Because owners typically take better care of their property than renters you are more likely to have upgrades and well-maintained appliances, flooring, walls, and more. Owning a piece of property tends to make people feel more responsible for their investment whereas when you rent a place it doesn’t make much of a difference to you if you drive dozens of nails into the walls. Condos encourage people to take care of their space so when it comes into your hands it is in great shape!

3. Owning a condo allows you to gain equity over time.

When you finish up a rental lease all the money you spent on rent and maintenance is gone, never to be seen again. In a condo, you have the ability to drive up your equity by increasing the property value and paying off what you owe on it. As you modify your condo to meet your tastes by adding new flooring, a fresh coat of pain, or a soft water filter; you make your own home more comfortable while also increasing your equity. This has several benefits including having cash after selling the home and paying any related fees. You can also use equity to take out a Home Equity Loan to fund future investments.

4. Owning a condo frequently means you have access to amenities.

This will depend on the community you buy in, but many condo communities have pools, lawns, barbeque grills, saunas, jacuzzis, and more. Because you own a condo in that community you have access to the use of all these luxuries without having to keep them up yourself. You can have pool parties and family barbeques; you can suntan on the lawn or simply read a book, and you can relax in a warm jacuzzi or sauna after a long workday. All this will be accessible to you simply because you live in the community.

Condos are one of the best and most personal investments you can make to improve your quality of life. Get to work deciding what you want out of your condo experience and then set out to find it! You’re sure to locate the condo and community of your dreams.