Condos appeal to virtually everyone from young urbanites who want to be in the heart of the action to seniors who just want to relax and enjoy their golden years playing tennis and relaxing by the pool.
Condos are very low maintenance which means you don't have to spend your weekends cutting the grass and cleaning the gutters. They also offer enhanced security features which is perfect for those who like to travel.
Living in a condo is a lot like living on a resort. Some condos even offer room service! Convenience comes at a price though in the form of condos fees which can be costly depending on the amenities offered by the complex. That said, condos are often very affordable compared to single family homes.
When you buy a condo, you don't own the land beneath you. You instead share a common interest with others in the complex which means you'll be subject to rules and regulations which can dictate anything from the type of planters you’re allowed to display to the kinds of blinds you can hang.
Joint ownership also means you'll be in close contact with your fellow condo owners. Some people love the sense of community condos offer but for those who value their privacy, condo living can be a difficult adjustment. Pets are another key consideration as Fido may not be welcome in some buildings.
If your real estate vision includes extensive renovations, condo living may not be for you as your options may be limited. If however you'd rather spend your time chilling by the pool instead of painting shutters, the low maintenance factor may be just what you're after. It's really a choice of freedom vs. freedom.