Posted on July 18, 2019
Condominiums is a Real Estate Investment
Some investors will not even consider buying condominium property but some will not buy other rental property for investment. On the surface, condominium costs, slower appreciation, and sales competition seem to limit their feasibility as a means of investment but this is not always true.
In the long run, negative attributes can be balanced with significant practical advantages. You can find best FIDI condo for sale online from various web sources.
The main advantage is low maintenance followed by a purchase price that is much lower than a city house or separate property. Condo communities that are located and managed well are much easier and cheaper to manage and tenants tend to stay longer.
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What did you buy?
Unlike separate houses and townhouses where you own land and structures, the ownership of condominiums belongs only to individual units. The land is usually shared land owned by the community and executed under legal rights related to individual ownership.
This monthly expenditure is usually based on interest divided into expenses for managing the entire community. Obviously, there is considerable cost efficiency in managing and maintaining a large number of units compared to individual properties.
In a stable economy, appreciation is mainly determined by inflation, supply, and demand. All residential properties value in a strong economy. Most American families prefer single-family homes that are separate from condominiums.
A yard for children and a traditional family-oriented environment is truly a growing family dream but the condominium also has its place. Many homeowners reduce the comfort of a condo during their retirement.