A condominium or condo is described as basically a hybrid between a house and an apartment by many. Some even describe it as the ultimate solution when it comes to cost Vs. benefits. The experience of living in a condo is more or less the same as the experience of living in an apartment, however, here are a few facts about condo living which can give you a much more detailed insight into what it is.
Affordability: Condo living is famous for its affordability. While the prices of a condo are dependent upon the area in which it is located, experts suggest that condos are much more affordable as compared to houses.
Uniformed Mortgage Prices: If we are to compare condo living with apartment living, then it is to be noted that while the rent of an apartment has a high probability of increasing with time, mortgage payment of a condo remains constant after you have taken out a loan.
Room For Customisation: Every resident wishes to customize their living space according to their own preferred style and while it is not possible with apartments, residents of a condo are more than welcome to.
Accessible Location: All of us wish to live near the heart of the city as it would prove to be much more easily accessible in terms of transport and money saving. Lucky for condo residents, most condos are located in downtown, like River and Fifth, which is just a few minutes away.
Maintenance: One of the most attractive benefits of a condo is that maintenance like a leaky roof, yard mowing, etc is taken care of.
Less Demand: Despite its many advantages, one of the most striking disadvantages of a condo is that it is less popular than houses in the market and thus it can be quite a headache if the resident wishes to sell the condo immediately.