Tuesday, February 20, 2018

Why condos instead of houses?

If you decide to work with Gables Riches you should know that our job as realtors doesn’t end the moment we finally sell your home or help you find and buy a new one. We offer our advice and guidance to each and every one of our clients, even after our business together is done. In this particular article, we would like to talk about one of the most common questions we get: “Should I buy a house or a condo?” There’s no definitive answer to this question, but at Gable Riches, with the current Real Estate market, we recommend condos to most of our clients… Why? Keep reading below!

It will always depend on your taste and your particular situation, but here are our top reasons why we prefer Condos over Houses in South Florida:

1.    The main reason why we recommend Condos at Gables Riches (especially for young investors and first-timers) is because they cost less, and we are not just talking about the buying price. Monthly fees and maintenance can become a headache for house owners, particularly for newbies. Condos, on the other hand, don’t usually require that much maintenance, and since monthly fees are distributed among all the other condos in the building, prices are much better optimized and therefore lower.

2.    It’s much easier to take care of a condo. A question every investor needs to ask itself is “how much time do I have to take care of things around the house?” Young investors usually have much less time to spare because of their jobs, school or other commitments, and houses are much more demanding than condos. Houses require outside maintenance (painting, facade, lawn, mailbox, etc.) while with condos you only need to worry about the inside.

3.  Many investors eventually decide to get a condo instead of a house because they fall in love with the amenities included in the building. Having a pool, gym, concierge, valet, bike room or conference room is a strong incentive, and it adds some important points to any home anywhere in the world.

Condos usually have better locations, and that’s another attraction for investors. If you want to be able to go shopping or eating without having to use your car, a condo is much more likely to be close to populated areas where all these activities can be found. If you are more of a Downtown/Midtown kind of person, a condo is definitely the best choice for you. On the other hand, if you would like a quiet place and you don’t mind driving a few minutes to get to places, a house close to the city would be our recommendation.

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