Condo ownership: Pros and Cons

When house hunting, a condo might be a rather appealing option. After all, you technically do own the space, which puts it above apartments, you get a pool you don’t have to maintain, and you don’t have to keep the outside clean. It’s essentially the small space and affordability of an apartment, but the dignity of actually owning it that a normal house once solely gave us. However, like anything, there are good and bad sides to owning a condominium. If you are interested in a one-bedroom condo in San Francisco, here are the pros and cons to this potential decision.

Pros

Cheaper insurance: because the condo association in charge of the community covers the cost of much of your house’s appliances, you’ll find that you won’t have to pay nearly as much for insurance as you would’ve with an apartment or house.

Security: many condominium communities are also gated communities. Or if they have no gates, they’ll usually have doormen or professional security guards. This means that your condo will be under constant surveillance while you’re out of the house. Ensuring security and safety.

Maintenance: One of the best parts of a condo by far is that people will usually do the maintenance for you. They’ll cut the grass, maintain the grounds, fix any part of the exterior you don’t like. As long as you like what the outside of your condo looks like on a good day, you have nothing to worry about.

Cons

Privacy issues: One thing condos and apartments have in common is the lack of privacy. There will usually be someone on the other side of your wall, and there’s a good chance the walls won’t be as thick as you’d like them to be.

Delinquency: the recession has hit the condo market hard. Folks are struggling to make ends meet, and because of this, they’re failing to meet their association dues. This means, of course, everyone else has to pick up the slack. Which, of course, means that potentially more people lose more money and so on and so forth.

Rules: Make sure you read the management’s rules before you sign up for a condo. Because when you sign, it’s the management’s way or the highway. You must follow their rules if you wish to remain on the property, so make sure that they’re rules you can agree with.

There are certainly drawbacks to living in a condo, but there are just as many upsides as well. If the pros listed above outweigh the cons, then condominium living may be exactly what you need. For more information visit Theaustinsf.com

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