Fully Furnished Condo: A Great Investment

Fully Furnished Condo: A Great Investment

An apartment complex is the closest relative to a condominium, as it shares similar features. There are individually owned units; But, homeowners association controls the common areas and facilities. These areas and facilities include roofs, hallways, heating and cooling systems, and other exterior structures. All expenses and responsibilities related to these elements are handled by the homeowners association. There are various advantages and disadvantages of living in a condo. However, if you want to buy a fully furnished condo for an investment, you must keep in mind several factors.

Advantages of investing in a condo:

1.If you buy a condo in a proper area with a good surrounding, you can expect a premium monthly rental or premium resell cost. There is area where supply of condos is way higher than the population. On the other hand, there are certain places where people do not get condos in a hurry. When it comes to buying a condo, you should necessarily gauge the prospect of the area and its housing requirements.

2.The restrictions and rules in condos have restrictions that help maintain the value of the property. There is generally a strict set of guidelines in condos that tenants are bound follow. Thus, the condition of property remains constant throughout, making it great for rental or resell.

3.A home is always more costly than a condo, even if it is not in a very good location. The purchase price of condos in a high property value area will also be much more affordable than a home in that area. The cost of maintenance is shared, thus making the amenities and external facilities easier to pay for.

4. Fully furnished condos offer great amenities such as furniture, home appliances and facilities such as a pool, football field, tennis court and gym. It is great because you do not have to separately pay any charge towards the maintenance of these facilities. Moreover, the resell or rental price is high as your condo is well equipped.

5. If there is a major damage or a minor breakdown, you would have to pay your share. This is good if realized from another point of view. Had it been your own home, you would have to pay the entire money. In a condo, you are just paying a fare share for mending an amenity that you regularly use.

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