Pros and Cons of Condo Ownership

PropertyTalkA condo is a type of an apartment that you own and has great features and amenities such as swimming pool, a gym facility, you get someone to do the cleaning for you and so on. In other words, a condo is ideal for a single person or for a married a couple who don’t have kids. Just like any other facility, a condo comes with its pros and cons which are essential to learn about before you decide to buy one.

Pros of a condo

Ample security

A condo is a form of an apartment where you get to live close to other people on different floors. Therefore if you need any help or if you have an emergency you will get a lot of people answering to your request. Also, these apartments are usually manned with the best and well-experienced security guards since there are a lot of facilities on the same ground to look after. So there is always ample security to ensure that you are well protected and safe.

Variety of amenities

A condo also provides a variety of amenities which is quite efficient for you, and you even get to save money. For example, you don’t need to acquire a gym membership card from an outside gym since most condos have inbuilt gym facilities, Others have gaming sections where you can engage in different gaming activities like tennis and basketballs. And there is a swimming where you get to dive in anytime and any day.

Free maintenance

Living in a condo is stress-free when it comes to maintaining the home since other people are hired to provide these services. Therefore you don’t have to worry about when the lawn will be trimmed when to clean the windows, the walking path or even the swimming pool. Some condos are located in areas where you can quickly access other outside amenities like cabs or uses. If you live in Toronto, then you can purchase such a condo at 1 Yonge St.

Affordable prices

Condos are relatively cheap to acquire as compared to buying a home. Also, you don’t get to spend extra expenses such as home maintenance expenses since the owner caters for all these services.

Cons of owning a condo

Lack of privacy

Although this premise offers you great services, there is no privacy since most of the things you share with someone else. For example, the gym is built for everybody in the building, and you also get to share a corridor with the next house.

Living by the rules

In a condo, you all have to live within the terms and conditions stipulated by the owner, so there is no freedom to determine how to live in your own house.

Hard to sell

Getting an entire flat to be occupied is quite hard as compared to getting a few units. This is because a lot of people are always cautious when buying condos with fear that they are not in good state. According to research conducted on condo development in Toronto Ontario, some condos have hundreds of units which may take years before they are all occupied.

If you plan to buy or build condo units for sale, read the above pros and cons associated with the acquisition of the apartment to determine if it is a good decision or not.

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