Condo or single family home? It’s a question many people ask when ready to purchase a home in Puerto Vallarta. Life in a condo community will be different than living in a single family or “free standing” home, there’s no doubt. But other than price, which clearly gives a condo an advantage over a single family home, there are more benefits to choosing a condo over a freestanding residence. Puerto Vallarta condominium properties come with a host of features, which you may or may not know about. And if you’re priory is to save your cash when you purchase, the sale price of a condo will be considerably less than a single family home, according to the San Francisco Chronicle.
Save Now or Pay Later
Perhaps the biggest object people often have to purchasing a condo rather than a single family dwelling is they have to pay an HOA fee. And that’s true, but if you look at the bigger picture, you’ll quickly realize there’s really no way of getting out of paying for the inevitable. Things are going to age and repairs will be necessary. So, it’s either have a dedicated savings to take care of those future costs, or hope to have the cash and credit score to finance those big repairs later on. Moreover, newer master planned single family communities also have HOAs, along with a hefty price tag for the purchase.
Advantages of Living in a Condo
Okay, so the price is a considerable advantage. That, in conjunction with having sufficient funds to replace the roof when it comes time is another. But there are still more benefits to living in a condo over a single family home: • Location, location, location. Condos often boast great locations. They’re typically close to shopping, dining, entertainment, nightlife, and more. Single family homes, however, tend to be in neighborhoods where you can’t walk to the store or to restaurants. • Amenities galore. Another great feature of condo communities, is they usually have resort-grade amenities like a fitness center, pool, tennis courts, a golf course, direct beach access, and more. • Great landscaping without the work. In a condo, you’ll enjoy the landscaping without having to care for it to keep it looking beautiful like you would in a single family house. • Consistent property values. Because condos are in a controlled environment, your home will maintain its value. Moreover, your neighbors can’t devalue your property by neglecting their own and letting it fall into disrepair. As you can see, there are some huge advantages to owning a condo. Another bonus is being able to rent if the circumstances arise.