You may be wondering about owning a condo vs. renting an apartment, what are the differences? What is the up-side? Here are a few reasons to consider owning a condo in the Middle Tennessee Area:
1. It’s Affordable
When compared to the staggering annual rental rate increases, owning your own condo makes perfect sense for providing you with stability (your mortgage payment will never change) and property values continue to rise so you will build equity in a tangible asset. And don’t forget – a large portion of your mortgage payment is tax deductible!
2. Condo Living is Carefree Living
You maintain what is inside the walls of your condo and the association takes care of all other maintenance. No yardwork, no worries about replacing the roof or any other exterior maintenance.
3. Condo Living is Secure Living
Many condo communities offer either a secure building or a security gate, some offer 24 hour security and concierge, parking may be either garage or gated, security cameras on the property, etc.
4. Fun Neighbors
If you are new to the area, condo living is a great way to meet people and make new friends. Condo communities usually have a calendar of activities and events for weekends and holidays as well as great amenities for meeting new friends.
Everything you need can be right outside your door! Pools, BBQ’s, Fitness Center, Common Rooms, Temp Controlled Wine Storage, Dog Walks, Groceries, Shopping, etc.
6. Adulting Made Easy
Owning your own condo vs renting proves many benefits. You can live in the condo, rent it out, personalize and update your space, build equity and have tax deductions not available to renters.
7. Lower Operating Costs
Most condos include building insurance and maintenance in the association fee, and many include water, WIFI, cable and trash service. Also electric heating and cooling costs are generally lower than with a single family home.
Does condo life sound like the perfect life for you? I’m happy to consult and share my resources!