Retirement planning isn’t a major topic of conversation for many young people. Often worried about paying off student debt and the rising cost of living in general. However, a little planning now
Buying A House Vs Condo
Condos in Charlotte are becoming increasingly popular and that is putting more questions towards the benefits of a condo versus a home. Condos have some great benefits but like all things, it also has some downsides too. Buying a condo is perfect depending on the stage of your life.
The first stage of your life that condos are great for is when you’re young and before you have children. They offer a more affordable way to get into home ownership. It’s a great way to get into the real estate market. Many condos are filled with young people. You can sometimes see the other side of it though. Sometimes you may find condo buildings are more senior in age. As people have children that move out, they want to downsize and condos can be perfect. You’ll find people of all walks of life in condos but predominantly its young people starting out and older people dropping down in size. Houses are targeted a lot more by people looking for space for growing families. Condos may not offer the space they need. Same goes for people with pets, especially dogs. Not all condos are as dog friendly as owners would like so they buy a house so their pet can have a yard.
Lifestyle is also another major factor when buying a condo versus a house in Charlotte. Since condos can be placed closer to downtown you can find them in areas that offer more amenities. You will also be around a lot more people in your situation in life. The condo lifestyle is great. It’s low maintenance and you can have a lot to do. Especially if your condo has the right amenities. Some will have pools, gyms, movie theatres, rec rooms, and more. The more condos become popular the more amenities come into play. Some condo developers, not specifically here in Charlotte, have gone as far as putting driving ranges and bowling alleys in their condos. The more that get built the more you can expect to have a fun night out without having to leave the building!
The lifestyle of living in a house is a lot different. Often you will more likely need a car to get around. However you have more space, and likely your own outdoor space. With a condo your outdoor space will be shared. Much more privacy with a home. It’s a different lifestyle for each and we will all have different preferences.
Condos are also really popular with those who are spontaneous and like to travel too. Nothing is easier than a condo for going out for a weekend or longer. You just lock the door and go. You pay maintenance fees so that all late maintenance is done. When you own a home you will still have to organize keeping things maintained the longer you are away. If you like to travel then a condo is a much better option. That’s a big reason you see more older couples with kids who have moved out considering a condo. They want to travel more now and a condo offers a lot more flexibility in regards to that lifestyle.
If you aren’t sure which is right for you then do not hesitate to reach out and we can talk about the pros and cons for your life and what you want to do in the future. Its important to come up with a plan with real estate.