Oftentimes when attempting to buy a condo, we can have issues with the purchase if there are any litigation, lawsuits, or HOA issues that the property is involved with, until now. Because of changes in guidelines, we are now able to have some more leeway when it comes to getting a mortgage approved, as long as the dispute does not affect the safety, structure, livability or functional use of the property.
Condos can be a great way for first time home buyers to enter the world of homeownership and have some great benefits that many buyers that I work with prefer such as:
No lawn or landscaping to maintain – Unless you like spending part of your leisure time mowing the lawn or attending to your landscaping, having a condo may be a preferred option for you. If you have an active, busy lifestyle like many Californians, working on your home’s outdoor upkeep may be the last thing on your mind on the weekends. If so, a condo is a great option. It is less to maintain and less expensive than hiring others to maintain your lawn and landscaping.
Cost of ownership is less – Speaking of less expensive, condo home ownership can be less expensive than a comparable single-family home because as a home owner you are generally not responsible for the exterior projects like siding, painting, and the roof. Yes, those items are usually part of your HOA dues, but can be more affordable when spread across the whole community. Plus, owner insurance is generally less for condo home owners because you are only responsible for insuring the interior and contents.
Easier to leave behind – If you travel frequently for business or pleasure, a condo can make it easier to pick up and go, simply because with a condo you can usually lock your door and leave without having to worry about home care while you are gone. And you don’t have to sacrifice luxury to be a condo home owner, condo ownership has become popular with millennials and empty-nesters alike and units come in all ranges of luxury and affordability.
I’d be happy to help you find a place that fits your lifestyle whether you are a first time homebuyer or looking to downsize. Give me a call!