Why Buy a Condo?
Why Buy a Condo? If you’re a first-time buyer looking enter the housing market but struggling to find a home to buy, condominiums could be a great alternative for you.
Many active seniors prefer a 55+ condo in our South Bay 55+ communities when deciding to downsize and enjoy the maintenance free lifestyle.
Whether you're looking for your first home or downsizing, Contact us and we'll find you the right South Bay condo.
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Below we explore reasons condos may be an option to consider when looking for a homes:
Exploring Condos Could Add Options That Fit Your Budget
Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans.
In a recent article, Bankrate covers some of these differences:
“Condos are generally more affordable because they come with less space — you likely won’t have your own backyard, for example, and the interior tends to be smaller than the square footage of a single-family home.”
But if the size of a condominium meets your needs, they could match your budget as well. So, if budget is top of mind for you, a condominium could be a great fit within your target price range.
Buying a condo is a great way to break into the market and start building equity that can help power a future move up. The condo you purchase today may not be your forever home, but it can be a great stairstep that can help you buy your dream home later on.
Owning and living in a condo is also a lifestyle choice.
While it’s true they may be smaller than single-family homes, the amenities condos provide could be a draw for many buyers. Less space in your home might mean minimal upkeep, lower maintenance, and more time for you to spend doing the things you enjoy.
To understand if condo life is for you, Bankrate recommends asking yourself a few simple questions: “Hate to mow the lawn and trim the hedges? What about pressure washing your driveway? Are your finances such that having to lay out $5,000 or more for a new roof will be a burden? . . . Condos tend to work best for those comfortable with most of the aspects of apartment living, minus the built-in maintenance.”
Ultimately, talking with an expert real estate advisor is the best first step to determining if condo living might work for you.
Condominiums are a great option for many buyers, especially those looking to buy their first home. If you’re willing to consider condos in your search, you could find something that’s in line with your target numbers and your needs. To learn more, reach out to a trusted real estate professional with expertise in the condo-buying process.
Call (310)918-5027 for expert advise. We'll be happy to help!
Below are shortcut links to help you find a new condo in a specific South Bay area: