Reasons To Consider Condos in Your Home Search

<article class="post-656428 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-656428"><span class="entry-date">March 22, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">Reasons To Consider Condos in Your Home Search</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Reasons+To+Consider+Condos+in+Your+Home+Search&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Freasons-to-consider-condos-in-your-home-search%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Reasons To Consider Condos in Your Home Search Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20230323-reasons-to-consider-a-condo-in-your-home-search-KCM.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Are you having trouble <a href="https://www.simplifyingthemarket.com/2023/03/15/balancing-your-wants-and-needs-as-a-homebuyer-this-spring/" rel="noopener noreferrer" target="_blank">finding</a> a home that <a href="https://www.simplifyingthemarket.com/2023/03/07/could-a-multigenerational-home-be-the-right-fit-for-you/" rel="noopener noreferrer" target="_blank">fits</a> your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos. According to <a href="https://www.bankrate.com/real-estate/condo-vs-apartment/#what-to-consider" rel="noopener noreferrer" target="_blank"><em>Bankrate</em></a>:</p>
<blockquote><p><em>“</em><strong><em>A condo can be a more affordable entry point to homeownership than a single-family home.</em></strong><em> And as a homeowner, you’ll build equity over time and have access to tax benefits that a renter wouldn’t.”</em></p></blockquote>
<p>That’s why expanding your search to include additional housing types, like condominiums, could help you <a href="https://www.simplifyingthemarket.com/2023/02/23/how-to-make-your-dream-of-homeownership-a-reality/" rel="noopener noreferrer" target="_blank">accomplish</a> your homeownership goals this spring, especially if you can be flexible about the space you need. Condos are typically smaller than a single-family home, but that’s part of what can make them more <a href="https://cdn.nar.realtor/sites/default/files/documents/ehs-02-2023-breakouts-of-single-family-condo-and-co-op-2023-03-21.pdf" rel="noopener noreferrer" target="_blank">budget-friendly</a> (<em>see graph below</em>):</p>
<p><a href="https://files.keepingcurrentmatters.com/content/images/20230321/20230322-condo-price-vs-single-family-home-MEM.PNG" rel="noopener noreferrer" target="_blank"><img decoding="async" src="https://files.keepingcurrentmatters.com/content/images/20230321/20230322-condo-price-vs-single-family-home-MEM.PNG"/></a></p>
<p>In addition to providing more options in your home search and possibly your price point, there are several other benefits to condo living. They tend to require less upkeep and lower maintenance – and that can give you more time to spend doing the things you enjoy. Plus, since many condos are in or near city centers, they offer the added benefit of being in close proximity to work and leisure.</p>
<p><strong>Remember,</strong> <strong>your first home doesn’t have to be your forever home</strong>. The important thing is to get your foot in the door as a <a href="https://www.simplifyingthemarket.com/2023/03/10/buying-a-home-may-make-more-sense-than-renting-infographic/" rel="noopener noreferrer" target="_blank">homeowner</a> so you can start <a href="https://www.simplifyingthemarket.com/2023/03/06/is-it-really-better-to-rent-than-to-own-a-home-right-now/" rel="noopener noreferrer" target="_blank">building</a> wealth in the form of home <a href="https://www.simplifyingthemarket.com/2023/02/27/one-major-benefit-of-investing-in-a-home/" rel="noopener noreferrer" target="_blank">equity</a>. In time, the equity you develop can fuel a future purchase if your needs change.</p>
<p>Ultimately, owning and living in a condo can be a lifestyle choice. And if that appeals to you, they could provide the added options you need in <a href="https://www.simplifyingthemarket.com/2023/02/28/what-you-should-know-about-rising-mortgage-rates/" rel="noopener noreferrer" target="_blank">today’s market</a>.</p>
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