Condos appeal to many people - from first time buyers to retirees, you’ll often find a diverse group of people at an open house for a condo. In NYC, condos are becoming an increasingly popular way of living, offering luxury features in sought-after locations, without the maintenance to worry about.
Is an NYC condo the ultimate in luxury living? Take a look at some of the reasons to go for it.
Why choose a condo?
Condos come in all shapes and sizes. While you might associate condos with beachfront locations, they can actually be part of many buildings and complexes. The key difference between owning a condo and owning a freehold home is that you and your fellow homeowners own a part of the land and communal areas, with costs shared with your fellow neighbors. Some of the benefits of choosing a condo include:
When you buy a condominium, you get the benefit of owning your own home but having someone else take care of the maintenance. The cost is divided between the different properties, but all communal areas are taken care of - meaning less work for you to maintain your home.
As real estate becomes more competitive, so do the ‘special features’ that come with a condo. From on-site gyms and swimming pools to chill out and lounge areas, you can find plenty of extra features that offer luxury to your condo. There’s a good site to search for condos here which will help you see more of what’s out there. The fees might be higher on more luxurious buildings, but the perks are certainly worth it.
More freedom than renting
When renting a property, you can be fairly restricted in how much customization you make to your property, even though you might pay a maintenance fee. Owning a condo lets you have the freedom to decorate your property as you see fit, allowing you to truly make your home your own.
Condos are typically located in gated, secure complexes or buildings that make them a safe place to live. Your building could have a doorman or security guard to help provide further security while having several neighbors nearby can reassure you that there’s help around if you have a problem.
More affordable living
Condos are typically more affordable than freehold properties, and the monthly mortgage payments might even be less than your rent. However, if it’s sheer luxury you’re looking for - you could also check out outstanding properties like this $7.2 million West Village condo. Who said condos have to be small? The desirable locations of condos also make it easier to afford properties that are near to work and other local amenities, meaning you can continue to enjoy city living without becoming a millionaire.
Think a condo could be the home for you? Explore condo decor ideas to get a flavor of what’s possible. As a good investment and way to get on the property ladder - a condo could be a great start. Luxury living in the city? Where can we sign up?
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