Condos for Ownership - Think About It

A condo traditionally is a unit in an apartment building that is owned by the occupant. It is sometimes used incorrectly yet interchangably with the term apartment.

Condominium is one of those words that has strayed from its original meaning. It is meant to be the word for "apartment" that implies ownership. You rent an apartment. You own a condo, but the word is used interchangeably as of the last few decades. Regardless, there are many benefits to condominium ownership no matter what you choose to call it.

Condos come with all the benefits of single home ownership. The investment builds equity, is a tax deduction, and monthly payments are not just flying into someone else's investments. But the benefits are multi-fold.

Choosing to own a unit in an apartment building is really everyone's dream—they just do not know it. While you are paying into your investment and it is building equity, you get to have the freedom of apartment life.

All of the common areas in a complex are for your enjoyment. Have a swim party, take up tennis on the properties courts, enjoy a walking trail, and party in the clubhouse all as an added bonus to your investment. You pay extra for none of these amenities that would cost a fortune in home upgrades and/or homeowner association fees in a single family home development.

If you have never lived anywhere but in an apartment, you may think you dream of a home on acreage or on a cul-de-sac, but your dreams are distorting the real view. Unlike for those who own condos, no one is going to mow your lawn just when it needs it. The first time you have a coveted day off and you have to spend it on lawn maintenance, you will long for apartment life, and it is no minor let down when you have to fix your own garbage disposal either. When you own a unit in a complex, you get a maintenance man, too! You also get gated entry, lawn and garden maintenance, and use of on-site facilities.

Condos are a great investment and fit for the single buyer, a younger married couple, a small family, or a retired couple whose children have left the next, but the units can also come with several bedrooms to accommodate any type of buyer. In fact, if you are raising a rather large family, condos should not be an oversight. All the amenities and help that come with living in a complex is probably just what you need for large family survival.

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