Many people live in condos. You see a lot of people having condos as their first home. You get the benefit of owing your living space, plus you get the benefits of other amenities like pools, fitness centers, things you cannot afford to have at your own home.
I have never bought a condo. I have a few reservations about investing in condominiums. A few people that I trust in the real estate business have told me in the past that selling condos can be difficult. A lot of people don’t like to own their own living space, but have to answer to someone else, when it comes to how my living space looks, or what I want to do to improve the living space.
If you live in a group of condos, you must have permission to do anything to your space, also, if the condo association decides to do something, you don’t have choice.
You can see why I hesitate. Why would I buy a condo to try and change in increase the value in, only to have an association tell me I cannot do it?
I feel that the only way that I would invest in a condo would be if I can get a great deal, maybe someone that is desperately trying to get out of the condo. That would be pretty much it. I think you are better served investing in single family homes or properties like duplexes.
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