Single-Family Vs Multi-Family Investmentswritten byKevin VandenbossReal EstateInvesting.comWhether youâ€™re new to real estate investing, or have several deals under your belt, you may be wondering
Purchasing A Condo Instead Of A Single Family Home
I recently had a co-worker ask me if she should purchase a home or a condominium and the only reason why she questioned it was how she didn't want to maintenance fees. This co-worker lives in Waikoloa area and is renting at the Fairway Terrace in Waikoloa and I told her she is single and makes good money, does she really want to purchase a home and have to do the yard work and or worry about who will dispose of her rubbish. In addition, you have the use of having a pool, gym, an other amenities with that property, a sense of community, and sometimes the expenses for a condo will be less than what you would pay for a house. Being she was single as well and a first time home buyer, purchasing a condo would be leverage for her financially should she decide to purchase a home down the road.
I mentioned to my co-worker that I just purchased a home and again our situations are different where I have a family, dogs, and a husband wants to be able to do yard work and work on improving the home and have that sense of satisfaction that he did that to "our" home, and the fact we have 17 years of things that we accumulated together. There is no way that would fit into a condo. Some condos do have rules and restrictions that you have to follow such as what color blinds you can put on your window, can you have pets and if so they have to be a certain weight, less space for storage, no yard for children to play, etc.
So again the reasons for purchasing a condo vs a single family home is different for everyone and when you are looking to decide what you want, let your realtor know exactly what you're looking for so they can help you find that right property for you and what would be the best fit for you.
Aloha! My name is Shenell Caldeira, I was born and raised on the island of Hawaii in Kailua-Kona. I am lucky to have grown up in paradise all my life and I never take that for granted. I've worked ....
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