Grand Rapids Michigan Real Estate Blog

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9 Pros & Cons to Balance When Buying a Grand Rapids Condo

 

9 Pros and Cons to Balance When Buying a Grand Rapids Condo


Condominiums and townhouses offer an affordable option to single


family homes in Grand Rapids, and they’re ideal for those who


appreciate a maintenance-free lifestyle. But before you buy, make

 

sure you do your legwork.



 

The 9 Top Elements to Consider:

  1. Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings.
  2. Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you.
  3. Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.
  4. Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home — good news if you like to travel.
  5. Security. Keyed entries and even doormen are common in many condos. You’re also closer to other people in case of an emergency.
  6. Reserve funds & association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.
  7. Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar. 
  8. Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.
  9. Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors

Syndicated from Grand Rapids Real Estate Blog

 

 

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan.  We believe: Grand Rapids is a Great Place to Live!

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                          Contact Terry   616-292-7263

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Comment balloon 2 commentsTerry & Bonnie Westbrook • January 25 2011 04:23PM

Comments

Terry, you raised some great points to consider.  Amenities is king here in our area.

Posted by Ellie Penaranda, Naples Florida Real Estate - Waterfront & Beach Co (239.776.5077 Downing-Frye Realty ) almost 9 years ago

Thank you for the strong points.  It can be quite a change for many people to move into a condo.

Posted by Katrina Cole, Inlanta Mortgage, Business Development Manager (The Jonathan Arnold Team of Inlanta Mortgage) almost 9 years ago

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