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.

Read Also :

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.

View all posts

Bridging Loans Explained

Bridging loans have become popular among borrowers for all the right reasons. With everyone talking about bridging loans, including the mainstream media, the chances are that you have already heard of these loans before. This is especially true if you are trying to move houses. However, several people do not know what a bridging loan is and how it works. Taking a bridging loan could be the best thing to do if you have found a dream house you want to acquire before someone else buys it, and you are yet to find a buyer for your existing home, which still has a mortgage. A bridging loan will give you the funds you need to buy the second house as you wait to sell the current one. Even so, there is so much more to bridging loans than you might imagine. In this guide, we will discuss everything about bridging loans from the basics, pros, and cons. keep reading to discover everything you need to know about bridging loans. So what exactly is a Bridging Loan? Simply put, a bridging loan is a short-term loan taken on top of the current home loan. As the name suggests, a bridging loan is usually taken when you need to buy a new house immediately before selling your existing home. When you take this loan, you will be paying interest on two loans. To put things into perspective, bridging loans are a form of interest-only loans. The value of your existing property will determine the value of the loan. It is also vital to note that these loans have limited terms and contain special concerns. Depending on the lender, the amount and terms of the loan will vary. You can view this bridging loan calculator first before you apply for the loan to get a glimpse of your financial responsibilities. The structure of bridging loans differs from one private money lender to another. Some private lending providers will require you to continue serving your loan until you settle in your new property. The private finance providers will the interest of your two loans together during the loan duration. Once you find a buyer for your second property, the mortgage will be discharged. You will then start paying the principal and interest of your current loan. On the other hand, other private lending providers will ask you to service both loans after taking a new one. After the sale of your home, the initial mortgage will be discharged, while the bridging loan might be converted into the home of your choice for your new property. When taking a bridging loan, it would help to think about compounding interest because you will be charged for both loans. Always keep in mind that you will end up paying more than you should if you fail to find a buyer for your house quickly. Bridging loan interests are calculated daily and charged monthly. Another key element you should have in mind is the duration of the bridging loan. These loans usually last around six months to 12 months, depending on the private finance providers and your preferences. Your loan length will be six months if you buy an existing home and 12 months for a new one. What are the Pros and Cons of a Bridging Loan? Now that you are aware of what a bridging loan is and how it functions, it is time to look at the pros and cons. Understanding the benefits of these loans and the challenges you are likely to encounter when you take a bridge loan will help you make the right decisions. Here are the pros and cons of a bridging loan: The Benefits of a Bridging Loan: Bridging loans have so much to offer. It is crucial to understand what you should expect with this type of loan to get the best options. Here are the pros of bridging loans: More Convenience: Do you want to buy your dream home quickly? A bridging loan will allow you to do just that even if you have not sold your existing house just yet. Flexible Repayments: Depending on your bridging loan structure, you will only have to service your existing home loan finance when you take a bridging loan. Avoid Further Expenses: You will not have to rent when you take a bridging loan. It will allow you to move even if you do not have a buyer for your house. Considerations of a Bridging Loan: Like is the case with any other type of loan, bridging loans also have their fair share of cons. For instance, you will be forced to pay more if you fail to sell your house as soon as possible. Choosing the Best Bridging Loans for Your Needs: Bridging loans are categorized as open bridging loans and closed bridging loans. Closed bridging loans have a pre-determined settlement date while open bridging loans do not have an agreed settlement date. When looking for a bridging loan, it will help to consider the duration, interest rates, and loan structure. It would also help to compare alternative loans before making the final decision. Above all, it is essential to find the right private lending company. Fortunately, you can use an easy-to-use online platform such as ADS.finance to find the best private finance option near you. Read Also: 5 Best Things an Experienced Real Estate Agent can do You Need to Know the Pros and Cons of a New Career in Real Estate 7 Tips To Purchase A Prime Real Estate Property

Chain Blocks—The Way to Go in 2019

Why put people’s lives at risk if you don’t have to? That’s a question all handymen, construction managers, and site workers should ask themselves. With so many solutions available in today’s market, your options to safeguard a crew are endless. What is one of the most popular safety features in today’s market? With good reason, you’ll find chain blocks on many work sites. Yes, this is a device designed to assist in heavy lifting. But we’re mentioning this in relation to safety too: the more pressure modern tools can handle, the less chance there is of workers getting injured. So, this is how you increase productivity as well as keep your crew safe. Ready to know more? What is a Chain Block? Chain blocks (also known as a hand chain hoist) is a mechanism used to lift and lower heavy loads using a chain. When the chain is pulled, it winds around the wheels and begins to lift the item that is attached to the rope or chain via a hook. How Does it Work? At the end of the lifting chain is a grab hook. This allows a worker to easily attach and detach a load. Also, most chain hoist lifting mechanisms have ratchets or braking systems that prevent the loads from slipping back. It also allows you to lower a load by pulling the other side of the hand chain. You can see the increased control a site worker can have in a situation with one of these forms part of the equipment that’s available. Increased control affects productivity and safety. So what can you expect from the average chain blocks? Specs and Description: 500kg - 2000kg working load limit All steel construction Suitable for industrial environments where dependability is a must Weatherproof twin pawl brake The Weston style two pawl brake is designed to hold the load during the operation Industrial grade powder coating which provides a long-lasting finish designed to suit harsh environments Zinc plated hand chain for a durable finish Fully enclosed gearing protects the gears from debris and contamination Respected suppliers provide chain blocks complete with Grade 80 alloy chain and forged alloy steel hooks. You should also look for quality suppliers who provide a large range of chain blocks to suit your needs. Each construction scenario is unique, so make sure your equipment caters for your needs. Why Use Chain Blocks? Benefits You Need to Know: When you purchase the right types, chain hoists can positively affect most aspects of your project: Cost: A chain hoist will have a lower price point than an electric wire rope hoist. This does mean the capacity won’t be as high, but it will still offer you much more than a manual hoist. Flexibility: A chain hoist is usually easier to move than a wire rope hoist, meaning it can be transported between sites. This can be a great advantage for construction professionals who work in various locations. Vertical lifting: You can easily achieve a vertical lift. There is no lateral movement, as the chain is moved over a sprocket. Diverse application: Chain Hoists can be used with a wide range of lifting equipment, including jib cranes and gantries. They can be used in low headroom areas, allowing you more flexibility with your specifications. Unique Features: Understanding this range of equipment is essential to optimize your use of them. Are you benefiting from these features yet? Chain containers: This is the collection box that collects up excess slack on the chain, preventing the chain from getting damaged and stopping it damaging the load. Limit switches: An upper and lower limit switch will let you set minimum & maximum hook paths. It protects the load from human error when lifting it or placing it down. This will also protect the hoist itself when lifting a heavy load. There’s a reason there are many types of chain hoists on the market. Each has its own benefits, so don’t ignore the ones you haven’t tried. Even though manual types may require more effort than electric hoists, they still come with many benefits. Manual Chain Hoist Advantages: While manual chain hoists won’t lift quite as fast and effortlessly as electric hoists, there are many advantages: They don’t require any electricity or power source. This makes them much more portable compared to electric hoists so you can have the benefit of a hoist on remote work sites. They’re more cost-efficient compared to electric or hydraulic hoists. Not only do electric hoists cost more initially, but they also raise electricity bills. The simple design of manual hoists makes it easier to repair and maintain. No complex motors, wires, or electrical/hydraulic systems. Although electric chain hoists can lift heavier loads, manual hoists can still have working load limits (WLL) up to 20 tons. As long as what you’re lifting is below that, there’s no reason not to opt for a manual hoist. You can pick from two main styles of manual chain hoists: hand hoists and lever hoists. Conclusion: Are you up to date with the latest in construction equipment? It’s how you become more efficient and manage a safe work environment. If you have questions or feedback, please share your comment on our page or tweet about your personal view and experience about chain blocks. Let’s learn from each other.

Don’t Forget To Plan For These 7 Hidden Costs Of Moving

Moving is a very expensive decision — whether you DIY with a rented truck or hire the professionals. You probably budgeted for the truck or moving company before you started packing. But these are just some of the most obvious expenses involved in the typical move. Unless you’re a seasoned professional or frequent mover, you may not realize plenty of other expenses are in your future. Things like child sitting, elevator charges, and parking tickets can up your costs significantly. You can usually rely on a line of credit when you’re faced with unexpected expenses. But when you have already put down $2,000 on a moving company, you may not have a lot of room left on this account. Part of managing your line of credit responsibly is learning to anticipate supposedly unexpected expenses before they happen. This article is critical reading for anyone who wants to limit how often they use their line of credit during a move. Planning early means you can start saving for these expenses in advance. 1. Child Sitting If you have children, you might have to think about getting a babysitter for your child. To save money, you can ask friends or family willing to look after your kids. Either way, removing your kids from the equation is easier for you and your movers. That way, you don’t have to worry about them being underfoot when you move heavy furniture. 2. Pet Boarding The same rules apply to your furry children. Keeping your dogs and cats away from the action protects everyone involved. 3. Takeout With your kitchen packed up, you will be relying on takeout and readymade meals far more often. You can save money by preparing frozen meals in advance, moving them quickly from one freezer to the other. Keep shelf-stable snacks handy, too. 4. Parking Tickets If your moving company parks illegally on the sidewalk or in a no-parking zone, you (not the company) will have to pay the ticket. Avoid this by seeking out a parking permit for your new neighborhood. 5. Security Deposit That hole your friends caused when they moved your antique armoire? If you can’t patch it up before you move, you might lose out on the security deposit you put down when you first moved in. DIY repairs might help you avoid losing your deposit, but even DIY work costs money. 6. Elevator Fees If you live in a condo, you will have to book the freight elevator to move your things. Depending on the condo company, they may apply a charge for this elevator. This fee is usually non-refundable and must be paid when you book the elevator. To make matters worse, most moving companies also charge elevator fees if you live on an upper floor. They may also charge stair fees if you live on the top floor of a walk-up. 7. Utility Setup Once you arrive at your new place, you have to set up utilities to heat and power your home. Some utility companies may require you to put down a security deposit before they start the service. They usually ask if you have poor credit or are a brand-new customer. These deposits can be costly, charging as much as twice your average monthly use. Keep this in mind as you create a moving budget. It’s better to struggle to save this amount than the opposite, being surprised by it when you go to hook up utilities! But if all else fails, your line of credit can pitch in. Read Also : 5 Reasons Why SMEs Use Courier Services

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.

Leave a Reply

Popular

Technologies For Creating A Startup Idea

How to Download Facebook Videos on Android?

7 Rules of Effective Ecommerce Web Design

The 10 WordPress Plugins Every Sucessful Blogger Uses

Follow Us

Recent

Agricultural Consulting Services: Boosting Farm Efficiency and Yield

5 Symptoms Women Entering Into Menopause Should Keep an Eye Out For

How to Download Airtel Thanks App and Recharge Seamlessly in 2025

How to Choose a Gift That Matches Their Personality Perfectly

Related

Bridging Loans Explained

Chain Blocks—The Way to Go in 2019

Don’t Forget To Plan For These 7 Hidden Costs Of Moving

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 :

Share this Article

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