Condos are great for first time home buyers
Fire Your Landlord
Thinking of firing your landlord and becoming a homeowner? Many people turn to condos as their first step into real estate ownership. Most condos have amenities that a single home owner would not be able to afford on their own. Since most have shared walls and some shared amenities, the prices are typically lower than a free standing single family residence of the same size. There is also some piece of mind that the condo association will typically handle the major upkeep and maintance of the complex. If cutting grass and shoveling snow seem like chores you'd rather no do... condo ownership could be EXACTLY for you.
Maintance Free Living is Ideal
Many first time homeowners are attracted to the ease of owning a condo instead of a free standing single family home because they are not responsible for maintenance and the upkeep of the property. Each month the association collects monies that are used to pay to upkeep the grounds, make repairs to the roof, clean the pool, etc.
Smaller purchase price means a smaller down payment
If you are purchasing your first home, saving up money for a downpayment might be easier to do for a condo. Depending on the condo by-laws you can also rent your unit out if your life circumstances change and you accept a job transfer or decide to move in with a significant other.
Amenities You Can Enjoy
Many condo complexes have clubhouses with pools, gyms and or tennis courts.