What comes to mind when you picture the American Dream? Nine times out of 10, it’s a single-family home. Truth to be told, a standalone house offers many advantages, including more privacy and freedom than other living spaces. But condos also come with a multitude of benefits, some of which may even outweigh the perks of living in a house. Depending on your circumstances, the best choice for you and your family may be to invest in a condo. Following are five reasons a condominium might be more your speed.

Location

If you care about living in a prime location within walking distance to shops, restaurants and entertainment, chances are a condo will be a better fit for you. Many condos are situated close to downtown areas, which can be appealing for those who don’t want to face rush-hour traffic or who plan on using public transit.

Budget

Condominiums are often priced lower than single-family homes, which can be a boon if you’re on a stricter budget. This is especially true if you live in cities with a hot housing market and supply constraints. As recent as August 2019, the Federal Housing Administration (FHA) announced more flexible regulations to condominium loan policies in an effort to promote affordable and sustainable homeownership — especially among first-time buyers.

Amenities

Condo living provides a wealth of amenities and services that may include swimming pools, a steam room, valet parking, trash removal, a children’s playroom, a rooftop terrace with grills, and a fitness center. Depending on how upscale the condo, you can have anything from spa services to chef-prepared meals and pet grooming on-demand.

Less maintenance

When you own a condo, you will never have to worry about mowing the lawn or fixing a leaky roof. An on-site maintenance staff will tend to the community’s needs and perform all necessary repairs. The result is more free time for you to focus on things you enjoy!

Security

Sometimes, all you need is the peace of mind that comes with the security typically built around condominiums. Such security features include gated or locked entries, doorkeepers, video surveillance and private, round-the-clock patrols. This extra layer of security might reduce the risk of break-ins and provide reassurance to condo-dwellers, especially if you live alone or are concerned about spending extended periods of time away from your property.

Interested in buying a condo in Fort Lauderdale or the surrounding area? Fairway Fort Lauderdale is here to help you! Call us to schedule some time where we can discuss your finances and determine the best home loan program for you. Set up an appointment today!