Owning A Condo: Pros And Cons
Miami, one of the most popular vacation areas in the state of Florida
, offers a wide variety of entertainment as well as people from all walks of life. With Miami Beach by its side, the entire area becomes a paradise for vacationers. Besides the hot spots for tourists, this area has a wide range of condominiums on offer for the residents.
How is Owning a Condo Different?
Purchasing a condo, or condominium, is typically less expensive than purchasing a single family dwelling. Condos normally do not have as much responsibility as a regular home does, such as lawn care and garbage collection. However, condos do come with fees that typical home-ownership does not, such as association fees. Association fees can include some or all amenities such as a pool or gym, lawn care, concierge, management staff or insurance. Many condos are located directly in the city, which provides a more convenient location to walk to destinations such as grocery stores, cafes, restaurants and nightlife for the residents.
Owning a condo also has almost no maintenance problems that must be personally taken care of, like building plumbing or roofing problems. Many condo associations, whether in Miami or Miami Beach, are very quick to solve maintenance problems. Many of the condos for sale offer amenities such as beach side living, pools, gyms, and are friendly to pet owners along with marinas available to dock your boat. Be it one of the Brickell condos in Miami or Allison Island condos in Miami Beach, you will have access to beaches, restaurants, bars, shopping centers as well as a fun and energetic nightlife. Many luxurious condo units are available at extremely low prices due to the current economic downturn and housing problems.
Disadvantages of Buying a Condo
Many condo units have a set of rules that must be followed. Many of those rule lists include rules pertaining to noise, remodeling, what kind and size of pet is permitted, and some even have rules concerning what sort of window treatments can be installed. Condo owners also do not own any land surrounding the unit, including any available parking, unless it is deeded parking.
If you are looking to be able to quickly resell your condo if the need arises, be prepared that condos are more likely to appreciate and depreciate in value quicker than any other type of home when real estate markets fluctuate. Many condo units are governed by a group of owners rather than a single manager and as such it may be more difficult to sublet the condo or make any renovations. Many older condos also have a community laundry facility rather than individual washers and dryers. Despite the regulations or rules within the condo units, many people feel safer and more involved with the community as compared to family homes.
Advantages of Buying a Condo
Many condos offer swimming pools, tennis or basketball courts, and gyms at no additional cost. Some luxury condos also offer access to Jacuzzi, private elevators, or even roof-top pools. Condos are also more affordable for individuals who otherwise cannot afford home-ownership. You will find most Brickell and
Miami Beach condos for sale within easy walking distance to workplaces or public transportation options. Condo units also offer added security benefits that can better protect you from burglary and unwanted surprise guests. The condo association handles problems between neighbors that have the potential to escalate before the escalation happens. The association also is there to handle many of the maintenance issues such as landscaping, roofing and maintenance of major mechanical.
by: Sep Niakan
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