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Considering A Condo?

Tired of handing money over each month to your landlord? Does home ownership seem to be overwhelming and too much to handle? Why not meet right in the middle with the purchase of a condo! A condominium is a multiple unit complex where each unit is independently owned. Let’s explore some of the pros and cons for this type of investment and housing!


  • Ownership-No more money spent on someone else’s property! Finally you’ll be able to make your space feel like home by having the freedom to rip out that unsightly carpet or paint the walls whatever hue strikes you. You will also build equity which is financially smarter!  
  • No More Yardwork- Depending on the homeowner’s association, almost all the outside work is taken care of. Mowing the lawn, raking the leaves, and even snow removal will be a distant memory.
  • Amenities- Another nice perk of joining a condo association? The amenities! Pools, gyms, and even lounges are often included for you and your guests!
  • Security- Feeling safe in your own home is really important. Condos normally have gated entrances, doorman, and cameras situated throughout the complex. Another benefit? Having added peace of mind with your neighbors being so close.
  • Cost- Owning a condo can be a lot less expensive than the purchase of a single family home. Of course it depends on the location, the size of the condo and the current real estate market, but a condo can be more cost effective if you wish to ditch the rental scene but don’t want to commit to an actual house.


  • Rules- Since purchasing a condo means joining an association, rules must be enforced that benefit the entire complex. Examples such as “no loud music after 10 p.m.” or what color your outside unit can be are unavoidable and part of the overall bundle.
  • HOA Fees- Want to get those fabulous amenities and grounds maintenance? Unfortunately that’s not part of your mortgage payment and a separate fee must be paid to the association each month. Prices vary and can increase over time.
  • Privacy-Unless the condo is detached you will be very close to your neighbors. And although this can be considered a “pro” for security purposes, sharing walls and common areas might make you feel like you have less privacy than owning your own home and yard.
  • Appreciation- Values appreciate more slowly over time since you own just the inside of the unit with no land attachments. This should be factored in when evaluating how long you intend to be condo living.

Weigh the pros and cons and decide if this type of investment fits your long term goals and lifestyle. 

Whether you decide on an apartment, condo, or single family house we’re always here to help you get the best insurance for whatever place you want to call home!

Contact us today for a detailed quote!


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