Platinum Author
Whether you are a first time buyer or have owned homes in the past, thinking about whether or not to buy a condo rather than a single family home is something to consider.
If you are a first time buyer and perhaps you are single or if it is just you and a partner without children a condo might be something you want to seriously take a look at. Some of the advantages of a condo versus a single family home are the differences between upkeep on the two properties.
With a single family home you have landscaping to tend to both in the backyard and the front but with a condo you generally have no outside work whatsoever. With a condo no only do you not have yard work but you usually do not need to take care of any of the exterior maintenance of the unit.
When the exterior needs re-painting that is done by the HOA, roof repairs are also usually covered and take care of by the home owners association. Naturally, the drawback to the HOA having responsibility for these things is the fact that your HOA fees are higher so you need to consider that when making your decision. Factor in some of these same costs if you had to do them yourself on a single family home.
Would you hire a maintenance person to take care of the mowing and trimming? If not, you will need to have the equipment to mow and trim yourself.
Condos also generally come with common facilities like a pool or jacuzzi and clubhouse or exercise rooms that is shared by all residents. Again, you do not have to care for these and yet have the privilege of using these facilities. Once again, your HOA fees cover the care and maintenance.
Homeowners insurances is generally lower on a condo. Why? Condos have a common wall and therefore a common roof so not only does the HOA fee include the care and maintenance of the roof but also should include a blanket insurance policy. What this means to you is that you will only need to buy a homeowners policy that is less than full coverage normally used for a single family home. Your policy would have to cover all of your personal items inside the home as well as the inside fixtures such as cabinets, flooring and appliances but the unit itself is covered by the blanket insurance policy.
Therefore, if the unit burned down the blanket insurance policy would rebuild the unit and your policy would cover the inside of the unit. The advantage here is that your regular policy will cost less than a single family homeowner policy, all something to consider when seeing the high HOA fees of a condo.
Knowing a few of these things could determine whether you want the freedom of less upkeep and buying a condo or wanting to buy a single family home where you take care of the entire property. You and your situation will determine what is best for you.
About this Author
Nancy Niblett is a highly successful Real Estate Agent specializing in the Chandler area. She credits her success to hard work, integrity and honesty. Clients continue to refer her over and over again. Nancy is one of the most successful award-winning agents and currently with West USA Revelation. She was awarded the top 50 Individual Agent award for the past few years by Phoenix Business Journal.
Find a top agent or a home or condo/townhouse in Chandler, AZ at Townhouses in Chandler Arizona or in gorgeous Fulton Ranch at Fulton Ranch Condos
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