Why Condo Apartments Are So Popular  

by Pool Builders on 08-09-2011 in Articles

Many first time real estate investors are more interested in buying a condominium instead of a detached single family home. Before we analyze the reasons behind the popularity of the condo it is necessary to know how it differs from other properties.

The architectural characteristics of a condo are similar to that of the apartments New Jersey. What distinguishes them is the ownership deed. Condo apartments have multiple residential units that belong to single owners. It also features certain common spaces that are under shared ownership, i.e. these spaces belong to all the condo-owners.

Condos enhance the buying capability

The chief reason for the popularity of this kind of properties is that they are available at a reasonable price.

These properties help a first time buyer acquire a home even within a strict budget. Though you do not own the property exclusively, it's still better than living in a rental apartment.

An example would be able to elucidate this point. If the price of a single family home in a particular neighborhood is approximately $200,000, the price of a condo in the same neighborhood is sure to be about 20-30% lesser.

Condos offer numerous amenities

How many have the budget to opt for a single family home with a swimming pool? Or a tennis court? In many cases it's just not possible for an individual to spend so much on such luxuries.

The condo apartments NJ are perfect for you if you are looking for this kind of elegant lifestyle. Offering world class amenities like fitness center, swimming pool, club room, entertainment area, study, kids' room, and such others, the condos offer you the luxuries of the rich and the classy.

You can take a walk down the garden or enjoy a leisurely time in the outdoor deck by the pool. You can complete a workout at the fitness center or read a book at the study area. You can enjoy a casual get together with friends or an elegant dinner for the two of you. There are options galore!

An excellent example of stylish living is the residential units on offer from such Condos. This riverside property is known for its prominent location and availability of a host of facilities and services. Apart from these, each unit guarantees a breathtaking view of the riverside promenade.

Condos lessen the maintenance cost

If it is a single family home, all maintenance related costs are the responsibility of a single owner. Whatever the job, you have to take care of it all by yourself. This means hard work and high costs.

This is not the case if you are a condo owner. All you need to do is pay a monthly maintenance fee and the tasks are taken care of by the Home Owners Association. Whether it is a broken roof or a new paint job, you need not bother about it at all. The fund maintained by the association is utilized in such cases.

This also implies that you need not mow the lawn or remove the snow. This makes such properties suitable for all, especially busy professionals and retired couples. Often budget constraints deter us from going ahead and buying a home. Luxury condo rental blog [http://www.luxuarycondorentals.com/] offer easy solution in such situations.

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