7 Reasons To Buy A Condo Over A House

Published on: 06 April 2018 Last Updated on: 03 September 2024

, There can be many reasons to buy a condo, but here are seven only. But first, what is a condo? Is it just a fancy name for a town apartment? Apparently not. A condo is a part of a larger housing unit where all units are separate but at the same time, the owners/occupants share the common public areas like recreational facilities, swimming pools, and stuff. Although many Americans won’t say it loudly, living in a condo community is part of the American Dream especially when you want to live in a popular city center like Los Angeles. Here are some perfect reasons to buy a condo over a house.

1.Condos Cost Much Less Than Regular Houses :

A condo is going to cost much less not only to buy but also to maintain as opposed to a regular family house. Just imagine a community where some other people do the maintenance and upkeep for you. If the grass needs to be cut, you find it cut, you don’t worry about who cuts it. If the roof needs repair, another person does it for you. With these knick-knacks taken care of for you, you can have peace of mind and your condo-home will be an abode of peace all the time, worth coming home to every evening. If this is the first time that you are buying a home and you do not have a lot of money saved up, start by buying a condo. It’s cheaper especially when you target a popular place to buy a property. Luxury condos in Los Angeles are much cheaper than regular luxury houses in the same area of Los Angeles.

2. If You Travel A Lot :

If you are sickly, elderly, if you work for a multinational corporation that keeps you on the road all the time, we have got good news for you, but first, buy a condo. A condo has most of its repair and maintenance needs taken care of. Thus, you do not have to bother yourself with such things. Someone else takes care of these things for you.

3. A Condo Is Very Secure :

That is right; express condos are very secure since they are more of a gated community. There are locked gates, security professionals and even doormen. You can lock up your condo and go to Singapore for the entire summer. When you come back, you will find your home secure, just as you left it. Granted, you will be required to pay association fees for the same, but what is a small fee if you will get the full value for it? Condos are actually communities where you live close to your neighbors. Thus, it is hard for a burglar to do a break-in without the people closest to you hearing it.

4. Condos Are Always Located In Great Locations :

Condos are located in the suburbs, on the beach and other desirable locations. One of the chief considerations for condo developers is the proximity of all the amenities that a community needs in its daily life. Shopping centers/malls/markets, schools, hospitals and so on are some of the considerations. If you go to buy a detached home on the beachfront, you will pay an awesome lot of money. If you buy a condo in a community located on the beachfront, it will cost much less than a detached home. Also, if you are looking to by condos in Los Angeles, you can check out Los Angeles luxury real estate websites to find affordable luxury express condos.

5. Easy To Find Tenants :

If your condo is free for a year as you travel the world, well, it is easy to find a tenant for it than it would be to find one for a large house. Because condos are cheaper to buy, they are also cheaper to rent, therefore making it easy to find a tenant. In addition, condo communities are located in the most convenient places, at the center of everything.

6. Many Amenities :

Ok, so the social and recreational facilities are shared, but that does not matter a lot because they are still great. When looking for a condo to buy, look for one that offers a fitness center, swimming pool, recreational court and other amenities. These are hard to find in detached homes unless you come from the trust fund kind of family and you do not mind coughing up a pretty dollar.

7. Enjoy All The Benefits That Regular Homeowners Enjoy :

A condo owner is a homeowner, and there are no two ways about that. Therefore, when you buy a condo, you have the liberty to do everything that you need to do, which includes renting it out, building an extension as well as take benefit of your home equity as you pay many months of mortgage.

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How to sell your house fast? Five must-know tips to move your property!

Selling your home especially if you’ve never done it before can be an intimidating task that can even put people who’ve done it before in worry. It can prove to be time-consuming and emotionally challenging as you’ll have to get through random people coming into your house and poking around stuff. Not only that but they’ll nitpick every little problem and criticize it which is something you might not want to hear for a place you’ve called home for a long time. The decisions you make along the way can either save you or cost you thousands of dollars. It’s easy for first time home sellers to make some common mistakes but with a little help, many of these problems can be avoided altogether. With a little planning and work, you too can sell your house for the price you’re looking and do so quickly. So here are five tips to sell your house fast. 1. Getting the timing right: Selling your house at the right time is an absolute must if you’re looking for a quick sale. Some months go well with selling a house whereas, in other months, you’re better off not putting your property on sale. You’d want the months in which more people are looking to buy since the more the buyers will be, the better chance there is of securing a higher price for your house. According to statistics, Spring and Autumn are the ideal seasons to sell off your property since during this time; the market tends to be busy with potential buyers. There are better weather and bright sunny days which will boost the appeal of your home. During spring, your garden will be blooming so it might even bring the value of your house up a bit. The times you’d want to avoid are winters and summers since they’re considered a tougher time to sell your house. 2. Valuing your house correctly: Many people make the mistake of setting the asking price of their house too high. It is important to price your house correctly if you want to sell it fast since overvaluing it will only be time-consuming during the negotiation period, but your house might not sell at all. This will especially be a problem if you’re not going to hire an agent since your property won’t be properly evaluated and potential buyers may not even consider your house once they see its price. To get the correct value of your house, you should contact your local estate agents, and it is recommended to get multiple agents to value your property to get an accurate estimate. 3. Deciding whether you want an agent or not: Hiring an agent is a matter of choice and is purely subjective. If you ask people around for advice on whether you should hire a realtor agent to sell your property you’ll come across two extremes, those who’ll completely advise against it and those who’ll be completely for it. The truth is it all depends on what you want, and if you’re looking to sell your house quickly, it is recommended that you hire an agent especially if you’re a first-time seller. The agent will do all the hard work and will be able to secure you a swift sale because selling a property takes time, knowledge of the neighborhood and negotiating skills. However, one should keep it in their mind that agents do 6 to 8 percent commission on the house depending on their rates so you would want to negotiate a deal with your agent beforehand. You should also find out more about the agent before locking in on when they will carry out viewings of your property and how long will your property be on the advertisement. 4. Preparing your house: The first impression will always matter a huge deal whenever you’re selling your house so you would want to make sure that the house is prepared and pampered. Knowing what type of people will be interested in your house helps a lot while preparing your home for sale. The trick is to know your target audience so you can prepare your house accordingly while also making it inviting for other people. To prepare your house for sale, you’d want to disassociate yourself from it and look at it from a buyer’s point of view. Then you’d want to declutter and clean up your house while also fixing the things you’ve been putting off. That’s because the buyer might assume bigger problems with your house seeing the small ones. 5. Advertising your property: If you’re hiring an agent, then the agent will advertise the house for you. However, if you’re looking to sell the house on your own, then you can’t just expect potential buyers to show up without advertising your house. This generally involves drawing up floor plans and photographing your house and then posting an online ad or a newspaper ad. Without properly advertising your house, you can’t expect your house to be sold quickly. Read More : 1. What Are Renewable Sources And How To Introduce Them Into Your Household? 2. Safety Triangle: Three Things Your Soon-To-Be House Must Have

Commercial and Residential Construction: Key Differences

When it comes to construction, many business owners, who have faced residential projects before, are surprised at how different commercial projects are. The difference between commercial and residential construction approaches is big, starting from the volume of work and ending with regulations We’ve turned to the experts to list the key differences between commercial and residential construction. Knowing them is especially important when choosing general contractors and checking their portfolio, permits, and credentials. Commercial vs Residential Construction: Definition Before we go further, let’s define commercial and residential construction. When we are talking about commercial construction, we mean creating a building for commercial purposes. It could be a store, office, school, factory, storage facility, warehouse, and more. When it comes to residential construction, it involves building something for residential living, including houses, apartments, condominiums, etc. At first glance, it may seem as if the approaches to these two types of construction are similar. However, they vary substantially. There may be a certain crossover between the skills of commercial and residential construction experts. However, a company that focuses on commercial construction may not have what it takes to deal with residential projects and vice versa. Regulations and Permits According to construction experts from afsgeneralcontracting.com, the key differences between these two types of construction are codes, regulations, and permits. Any kind of construction project requires special permits to be completed. For commercial projects, the number of these permits and codes is much higher than for residential buildings. Safety codes pertaining to parking lots, elevators, fire safety, and more are different for commercial properties. General contractors must have extensive experience following these codes since failing to do so could result in the entire project being done in vain. Commercial buildings come with elaborate concerns for electricity, IT, and parking. That’s why the level of complexity for working with such properties is much higher. Building codes and standards don’t just vary from residential to construction projects. They can be different in each state or even city. That’s why it’s important to check whether the general contractor you’ve chosen has experience working in your area. Materials As soon as there is a building design in place, it’s important to identify materials needed for the construction project’s completion. Usually, materials required for commercial construction are drastically different from what you would purchase for a residential construction project. For example, an average residential building requires more wood since it uses a timber frame construction. Such an approach is considered to be cost-effective and well suited for buildings of smaller size. Even though some residential building owners prefer a steel frame for integrity, not too many agree. The reason is a much higher cost. Requirements for commercial construction project materials are stricter. The design is usually more complex than for residential needs. Timber framing often doesn’t cut it for large commercial buildings. Steel is the preferred material for companies building commercial properties. It’s resilient and allows for higher integrity and longevity of tall buildings. Obtaining large amounts of steel for framing requires an established relationship between a contractor and supplier. It may be easier for the residential owner to purchase timber directly from the vendor. However, in both cases, it’s better to rely on the contractor to find the right materials. Equipment and Training No matter how large and complex residential buildings can be, they are small and simple compared to some commercial projects. The large size of commercial buildings requires special equipment and workers’ experience. Operating tall cranes is different from working with aerial lifts. Meanwhile, the cost of such equipment, even if it’s rented, is much higher. Height-access equipment for commercial projects require specially trained operators. It’s also harder to find than aerial lifts for residential construction purposes. Some parts of residential construction projects are sometimes done by owners themselves or contractors using “How-to” videos. Even though it sounds questionable, these people often reach satisfactory results since the tasks aren’t hard. However, such an approach can never work for commercial projects. Mistakes that construction workers make with residential projects are much easier to fix than those occurring with commercial construction are. Meanwhile, commercial construction errors are likelier to result in a lawsuit. In most cases, residential construction workers need additional training to deal with commercial projects. Deadlines Commercial project deadlines are usually much stricter than their residential counterparts are. Higher construction costs and better-organized workflow usually mean that commercial construction tasks are executed much faster. For a company, a faster construction process means lower costs for labor and reduced financial investment. This motivates commercial construction workers to complete the project quicker. When it comes to residential projects, homeowners have a tougher time setting deadlines since they are prone to making changes. Meanwhile, some homeowners experience financial problems during the construction project, which may hinder deadlines. Residential construction projects require fewer workers than commercial construction does. This may also slow the process down. Costs The biggest difference between residential and commercial construction is cost. It doesn’t just stem from materials and compliance standards but depends on the costs of labor and equipment. The number of workers, as well as their experience and training, may reflect on the project costs tremendously. So can the use of specialized equipment, which is tougher to find and more expensive to rent. Residential projects require all of the above as well. However, due to their smaller scale, the costs go down proportionally. The approach to funding is different as well. For commercial projects, funding is found through bank financing, government agency or a wealthy owner/developer. Meanwhile, the homeowner usually funds a residential project through a loan. Final Thoughts Commercial and residential projects can be drastically different. The key differences between commercial and residential construction are materials, equipment, worker training, costs, and deadlines. When choosing a general contractor, the difference between the two is highly important since a company that deals with residential projects may not take up commercial construction tasks and vice versa. Read Also: Lifting and Rigging Equipment—Your Hardware Guide 3 New Age Engineering & Construction Technology All You Must Know About Construction Business Management Software

Invest Real Estate in Detroit: 7 Things You Need to Know Before Buying Your First Investment

Making your first investment can be a complicated and confusing process to understand. Although you know some people who have found their fortune in real estate investment, there are still several risks linked with it. You need to take extra measures to make sure you earn something from what you’ve invested. If you’re looking to get the most out of your first investment, here are seven things you need to know before buying one in Detroit: 1. Conduct research: Purchasing your first real estate investment isn’t easy. You have to do thorough research to make sure you target the type of clients you hope to do business with in the future. This process, for instance, is all about the economic side of your investment. As you’ll shell out a massive amount of money, it’s vital that you do proper research and use a useful analytical approach to determine the property that will entice your target clients. Instead of thinking about your personal preferences, it’s a good idea to study the financial factors of the specific place where the Detroit property is located. If you’re searching for real estate investment options, visit bestrealestatedirectory.com for more information. 2. Pay a down payment: Typically, properties subjected to investment ask for higher down payments than a regular building. If you buy your first real estate investment, you might need a considerable amount of cash on your pocket to accommodate at least 20% down payment. This is much greater than the 3% down payment you pay for the house you’re living in. Also, investment properties require strict requirements for approval, and you also need to spend much money for the renovation before paying the down payment. 3. Estimate the profits and expenses in advance: To make sure you make the right decision, it’s a good idea to determine how much money you currently have as well as the money you plan to borrow for your first investment. Once you’ve come up with a computation, start estimating the amount of money needed to buy and renovate a property and the corresponding operation costs. From there, assess the price you want to sell your property for and subtract the expenses so you can get a calculation of your potential profit. While these figures might not be accurate, having an estimate beforehand will help you stay on track with your finances. 4. Shop around for investment loan options: If you have limited funds to get started with your first investment, you can look for investment loan opportunities that can help you collect more money. All you need to do is find the right option that can change your current financial situation. While different options offer various benefits, be sure you choose the one that fits your circumstances. Moreover, try to check the features of each option such as if it allows you to split your repayments for a specific period of time. 5. Clear up all your debts prior to investment: As you might need more money to fund your first real estate investment, you’ll end up considering some investment loan options. However, you can’t get the most out of these financial options if you’re still carrying debts. Most financial organizations will assess your ability to borrow and pay debts, and if you fail to pay your accounts on time, chances are they’ll not approve or grant your application for a loan or any financial solution. That’s why it’s important to pay off all your debts before starting up a real estate investment. Most investment success stories would agree on this tip. 6. Go for a low-cost home: Although you’re prepared to spend thousands of dollars on your first investment, it’s wise to choose properties that are offered at a low price. After all, you still need more funds for the renovation of the real estate before you get to sell or rent to your target clients. Additionally, if you want to keep yourself in the safe zone, make your investments as low as possible by looking for low-cost properties in Detroit. Bear in mind, the lower your investments are, the higher chances of earning a high profit from it. 7. Don’t let emotions affect your decisions: When buying for the first investment, think of it as a business investment and not as a personal one. Don’t allow your emotions to overpower your decisions and goals since a substantial financial investment will be at stake here. Instead of letting your emotions affect your plans, treat it as a business in a way that you have to negotiate to obtain the most favorable price. Conclusion: Buying your first real estate investment can be a risky financial decision you can possibly make. Without proper planning and preparation, your investment might become a terrible experience. However, if you keep the tips mentioned in this article, you’ll be able to gain more money and be on the winning side of the game. Read Also: How Do Law Firms Help Companies With Their Real Estate Issues? Real Estate Syracuse NY Investment: Flipping Houses And How To Make Money From Them

7 Reasons To Buy A Condo Over A House

1.Condos Cost Much Less Than Regular Houses :

2. If You Travel A Lot :

3. A Condo Is Very Secure :

4. Condos Are Always Located In Great Locations :

5. Easy To Find Tenants :

6. Many Amenities :

7. Enjoy All The Benefits That Regular Homeowners Enjoy :

Things You Need To Know About the Top of the Line Conveyor Systems

Is Property Investment Still a Good Way to Make Money?

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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How to sell your house fast? Five must-know tips to move your property!

Commercial and Residential Construction: Key Differences

Invest Real Estate in Detroit: 7 Things You Need to Know Before Buying Your First Investment

7 Reasons To Buy A Condo Over A House

1.Condos Cost Much Less Than Regular Houses :

2. If You Travel A Lot :

3. A Condo Is Very Secure :

4. Condos Are Always Located In Great Locations :

5. Easy To Find Tenants :

6. Many Amenities :

7. Enjoy All The Benefits That Regular Homeowners Enjoy :

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Things You Need To Know About the Top of the Line Conveyor Systems

Is Property Investment Still a Good Way to Make Money?

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related