2021 BOISE IDAHO REAL ESTATE BLOG
Have You Considered Buying A Condominium? Main Treasure Valley Life

Are you a homebuyer looking to make a condominium your first home? Or are you in search of a second home and have decided that a condominium may just be the ticket? Keep in mind that condominium living is very different from living in a home, and you have to take into consideration the needs and lifestyles of your neighbors besides many other factors. We share more with you about condominium living in this guide to help you make an informed decision about whether it will suit you.

Privacy Amidst Communal Living

Of course, you can expect to have privacy within the four walls of your own unit. However, things are rarely that simple or straightforward. Because you share a wall with neighbors, that can mean you will have to keep the noise down. Noise coming from your neighbors can also be more of a disturbance than you realize. However, if you dread returning home to a quiet house and would like the reassurance that someone is always around, communal living may be a good fit for you. You get your privacy within your own unit and the opportunity to mingle with neighbors in common areas such as laundry rooms and in the gym. It’s very similar to apartment living, but with many of the benefits of ownership.

Rules and Regulations

Because so many residents are living in close quarters with each other, each condominium complex usually comes with its own set of rules and regulations. A lot of them will be commonsensical, such as keeping down the noise after a certain time at night. Others may restrict the types of modifications you can make to your unit, whether you can own pets, and more. 

As such, you may find that you are unable to get away with some things you may have been used to whilst living in a home. This can be a dealbreaker for some people, such as if you have a beloved pet you want to bring with you. If any resident does not comply with the rules, the association is obliged to enforce them as well as settle disputes between neighbors.

Convenience and Amenities

One great perk of condominium living is all the amenities you will have access to, such as a swimming pool and gym. The Home Owner’s Association (HOA) dues you pay cover this, meaning you get to enjoy the convenience of these amenities without being responsible for upkeep and maintenance. This can be an attractive selling point—some homeowners may not be able to have a pool in their backyards if they go with a home.

Ownership

When you purchase a condominium unit, you only own the space within the four walls, as well as enjoying shared ownership of communal areas. You do not own the land your unit is built on. This can be good and bad. Firstly, you are not responsible for upkeeping and maintenance of the grounds. However, this does limit your ability to make changes to your new home, such as getting an extension, tearing down walls, and many others.

This is part 1 of our short series about buying and living in a condominium. Click here to read part 2.

 
Posted by AndrewS at 7/21/2021 2:23:00 AM
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