If you are thinking about moving to Yorkville or anywhere in the big city, buying a condo might be your best bet. They are often cheaper than homes that can only fit single families in, and they are filled with many perks including gyms, swimming pools, tennis courts, BBQ’s, etc. These would be a lot more expensive if you had them included in buying a home. Here are a few more reasons why it’s a good idea to buy a condo.
If you are a sociable person, buying a condo is the easiest way to meet new people. Most condos will hold monthly social events like movie nights, meet and greets, and barbecues in the summer. Be aware that if you buy a condo in a building that mainly has short-term renters, the sense of community won’t be as strong because people are constantly moving in and moving out. When you are looking for a condo to buy, ask the manager what the turnover rate is and if they hold any social events.
When you are looking to buy a condo in Yorkville, you will more than likely see a lot of them with golf courses, clubhouses, tennis courts, indoor and outdoor pools, gyms, and rooftop patios on site. When you buy a condo, these amenities will be more affordable and will be close by compared to if you buy a house.
Condos are mainly built in desirable locations that are close to transit lines, nightlife, schools, and stores. If you find the perfect location, you could walk your children to school, walk to the grocery store to buy food, walk to the subway to get to work, then grab a happy hour drink with your new condo friends at a pub nearby. When you buy a home, you may have to drive long distances everywhere to get all of your errands done.
When you move into a condo, all of your maintenance responsibilities like shoveling snow or mowing the lawn are gone! This will save you a lot of time in the mornings to relax instead of shoveling snow and save you from burning in the sun during the summer mowing a lawn. All maintenance outside of your unit (including cleaning up the courtyard and making sure everything looks good in the lobby) is up to the condo to fix and maintain.
If you are a single family, buying a condo will be the more affordable option compared to buying a single-family home. This isn’t always the case, however, so you should always do your research when looking up the prices for homes and condos in the area you are looking to move into.
If you are looking to buy real estate for the purpose of renting, finding tenants to occupy your condo will be a lot easier than finding tenants to move into your home. Since condos are smaller and less expensive, your rental rate will be much lower than if you were to rent out an entire house.