Lisa Bradley - Re/Max Vision



Posted by Lisa Bradley on 10/3/2017

Looking to purchase your first home? Not sure if you want to purchase a single-family home or a condo? What you purchase will be determinant on your thoughts about the below information. Take a look at the various differences between single-family homes and condos and decide the pros and cons for yourself. Location: Based on your price range, you will typically be able to purchase a condo in a location where you would otherwise not be able to purchase a home. But in return, you are often getting less square footage, closer by neighbors, and smaller outdoor living space. If you sacrifice a downtown city location for a location right outside of the city, you will get more for your money. Do you want to be able to walk to restaurants, shops and maybe work or is a home with free parking a more attractive option to you? It all depends on what is most important to you. Privacy: There will be less privacy when owning a condo versus a home, as neighbors are much closer. Condos typically share a wall with one another, some on just one side and some on both sides. This is an important detail to take into consideration when deciding between a condo and single-family home. Additional Costs: HOA fees or homeowner association fees are monthly fees that condo owners must pay. The fees cover things such as utilities, reserve and contingency funds, amenities, maintenance and repairs, which includes lawn care, snow removal, trash removal, exterior upkeep, etc. These costs vary depending on the condo amenities and policies. However, itís important to be aware that there is the possibility that these fees increase if there is not enough in the reserve to cover unforeseen costs. When owning a home, there are no HOA fees. This means that a homeowner needs to be cognizant of the additional costs of owning a home. Will you purchase a lawnmower and snow blower or hire a service? Will you have the additional funds to pay for unforeseen expenses? These are important questions to consider. Restrictions: Owning a condo has some limitations as there will be restrictions that would not exist when owning your own home (unless you purchase a historical home). There are often restrictions dealing with the exterior of your home, parking restrictions as well as having certain barbecues on decks. Condos are an attractive choice for those looking for a low maintenance lifestyle. And owning and maintaining a home will take more work on the homeownerís part. Itís important to figure out exactly what you want out of a home before you decide on one or the other, but knowing the difference between a single-family home and a condo is a first step.





Posted by Lisa Bradley on 12/13/2016

Condos have been gaining in popularity for a number of years for people across many segments of the population. From couples who are just starting out together to retirees, and everyone in between, condos are a smart choice that offer many advantages. In order to determine if they are the right choice for you, read on below. Ownership of Your Home Unlike renting a home, or apartment, a condo is a true investment in your future. You will have the deed to your own home so you know that all the money you pay into it will result in you actually having something to show for it. You Can Sell, or Rent, Later In spite of your condo being attached to others in the complex, it is still yours to sell if you want to. This means that you still have the freedom to move wherever and whenever you want. Conversely, you can rent out your condo if you need to move and it suits your needs better. Really, since the condo is yours, the choice is yours as well. Your Responsibilities End at Your Front Door One of the most attractive things about owning a condo is the fact that your responsibilities end literally at your front door. While you are responsible for repairs to your appliances, and the like, that you have in your home, your condo association is responsible for the lawn maintenance, snow removal and other routine outdoor tasks. This allows you to fully concentrate on your own home. Of course, this is not a free service, though. Your monthly condo association fees pay for this service. The condo association decides which service provider to use by a vote of the board. Being on the board gives you the opportunity to make a real difference in how your community is run. Close Knit Community Having a condo in a planned community that caters to a specific portion of the population such as retirees or young families allows you to have neighbors that are in the same life stage as yourself. This gives you plenty of opportunities to make lifelong friendships as well as building a support network. This type of support is something that many people often miss due to their life circumstances, so it is a particularly positive aspect of condo ownership. A condo can offer you an array of benefits that could be suited to your circumstances. As always, take the time to research your options thoroughly before making a decision.