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Although many active adult communities feature single-family homes, there are a few that offer condominium living too. Although the majority of retirees prefer single-family homes, there are some who prefer the benefits of living in a condominium community. If you are weighing the choice between a single-family home and a condominium, here are a few pros and cons of condominium living.
Pros of Condo Living
- Little to No Maintenance – When you live in a condo, you don’t have to worry about yard work and the exterior maintenance of your home. Condos are often built smaller than homes and this means you have almost non-existent maintenance worries.
- Security – Most condos are staffed with a doorman or a front desk. This is extremely beneficial for seniors who like traveling and for seniors who live alone. The added security provides them a feeling of safety that you wouldn’t get when you live in a single-family home.
- Location – Condos are, most often, built in urban areas where land is limited. This ensures that you are close to various amenities. You can be sure your condo is within proximity of malls, museums, and grocery stores.
- Affordability – Condominiums are more affordable than single-family homes.
Cons of Condo Living
- Shared Walls – Condominium dwellers often share one common wall. This can be a nuisance when your neighbor decides to throw a party or increase the volume on the TV.
- Higher Assessments – Although condominium living is more affordable than living in a single-family home, the monthly assessment charges may be more as benefits of security and elevators have to be paid for.
- Parking – Although condominium living offers parking spaces for its residents, you may have a bit of a distance to walk from the car park to your apartment. This can be extremely troublesome when you come back from your travels and have to lug your luggage home or when you have done your grocery shopping.
- Resale Value – Although condos are affordable, it can be difficult to get the price you want when you sell. This is because many retirees prefer single-family living to condominium living.
If you are considering condominium living, think about the pros and cons before you make your decision.
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