Should I buy a condo?

Should I buy a condo?

“Why buy a condo?” This is a hotly-debated real estate question. However, regardless of your financial situation and personal preference, buying a condo can be a solid investment.


In very expensive and popular markets, such as downtown areas, condos are a popular choice. If you want to live in the heart of a city, or within walking distance to numerous amenities, such as museums, fancy restaurants, theaters, sport stadiums, etc.., a condo is an appealing option. Condos are often cheaper than buying a single family residence. Therefore, condos give the opportunity to enter and live in a locale they might not otherwise be able to afford. When you own a condo, you can build equity and take advantage of tax deductions on the mortgage interest.


Some condos can offer excellent security. Security devices such as buzzers, guard service, etc.. provide peace of mind. Living amongst a group of trustworthy neighbors also provides a sense of security when you leave for vacation.


Some retirees love condos. For a retiree, a condo community will usually provide services specifically catered to them, such as golf courses, spas, tennis courts and swimming pools.


Finally, one does not need to be a handyman to own a condo. Many condos simply hire professional landscapers to maintain the exterior. Usually if something breaks outside the association will fix it.


So, what are you waiting for? Buy a condo today and reap the awards!


Greg Daly

editor note: Greg lives in NJ