Canada

Condominiums Benefits for First Time Home Buyers

First time home buyers have a hard time trying to choose the best property that will suit their need. With issues like mortgage payments, initial down payments, design, location and long-term benefits facing them, making the right decision is important. But all said and done, opting for a condominium is the best alternative compared to building your own house as a beginner. Here is why buying a condo is the best option for you.

Affordability

condosMajority of condos are affordable for first-time homeowners compared to building their own house. With the reduced price come other benefits: an affordable down payment, fewer installments and ease of payments. Compared to building a house and the many logistics to be observed, condominiums make it easy for first-time homeowners to get a suitable home.

Security

Security is also a big benefit that comes with owning a condo. As a homeowner, you are faced with the responsibility of keeping your family and property safe. You may need to build a strong perimeter wall, install surveillance cameras, guards and an automatic gate. Surprisingly, all these security details are provided to condo owners.

Ease of maintenance

Maintaining the lawn, car park, fixing the drainage, broken water pipes or watering the flowers in the garden are part of the homeowner’s responsibility. But condos provide a simpler alternative by having the maintenance jobs done for you at a small monthly fee. Condo owners are members of the association of homeowners. This provides the services of maintaining the condos for the owners making life easier for them.

Buying a condo gives you the freedom to customize its interior as you prefer. You can put wall hangings of your choice, applying the paint color you dream of or add to the design so that it fits your taste. These possibilities do not exist if you are in a rented property.

Amenities

It is one thing to own a home but when it comes with some extra amenities like a gym, tennis court, swimming pool, clubhouse and much more; that’s a bonus. Condos provide their owners with these added benefits. Apart from the maintenance cost for these amenities, the owners face no extra costs but enjoy using them at their own pleasure.

Sure investment

HousingIf you ever think of taking another step into home ownership, condos provide you with a great investment possibility. You can decide to sell the condo or rent it on a monthly basis for a fee which will add to your income. Property investors can give you advice on the best possibilities; consult them when making this decision.

Owning a condo as a first-time owner is a suitable choice. The condo market has also become more stable than before making owning one an advantage and having one as an investment the best choice.

Reference:

https://mywellcondo.ca/developers-and-architects/

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