Condominiums in a Nutshell, Is Urban Life for You

With the single family housing market still in flux, many people are considering condominiums as an alternative to a detached home. While condos are a great fit for some, they are certainly not for everyone. Owning a condo can be a very different emotional and practical experience from that of owning a house, so before committing yourself to a condo, carefully consider whether a condo provides the right lifestyle for you.The most obvious thing to consider is where you want to live. If you want to live in the center of an urban area like Chicago, Miami, Houston, or Dallas, where condos are typically found, a condo may be a great choice for you. While there are some condos available in the suburbs, the selection is often limited, and rural settings generally have no condominiums available at all. Therefore, unless you are committed to a life in the city, you may not find a condominium complex that suits your needs.One advantage of living in a condominium complex is the proximity of your neighbors. Some singles, particularly women, like the “safety in numbers” aspect of condo living. Plus, most modern condo complexes have security features such as intercom systems, gated garages or on-property security guards that can help a resident feel more safe and secure. On the other hand, being surrounded by neighbors also means you are likely to encounter people more often, and means you need to be mindful of issues such as noise, parking, and other points-of-conflict that tend to arise when people live together in concentrated numbers. If you tend to be a more solitary individual, condos may more community-oriented and people-intensive than you might desire.Condo owners also typically pay a Homeowners Association fee, which helps to fund community landscaping, general maintenance, and amenities like pools, gyms, barbecue areas, and tennis courts; other than keeping up your unit, the Homeowners Association takes care of everything else. In other words, there’s no grass to mow on the weekends, no pool cleaner to hire, and no roof leaks to worry about, making condos a great choice for those not interested in the chores and duties that usually attend homeownership. However, Homeowners Associations can also impose strict rules, such as limiting or forbidding pets, restricting access to amenities, and even determining when you can get rid of your trash. It would be highly instructive to sit in on a homeowner’s meeting for a particular condominium before buying, in order to see how restrictive a particular HOA board may be, and if there is any contention among the homeowner members.For some, condos are the affordable option for first-time homeownership, or the best option for a short commute. For others, condos are the foundation of their urban life, which usually starts after 10 PM. Just make sure you consider all of your options before making any decision about your home.