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11 Steps Away From Buying Your Dream Home
13 Extra Costs to be Aware of Before Buying a Home
3 Tips for First Time Home Buyers
4 Things You Shouldnt Do When Youre Buying A Home
5 Magic Points Should I BUY or RENT my HOME
5 Tips for the First Time Home Buyer
A Guide to Buying a New Home
A Look Inside Escrow For Real Estate Investors
A Real Estate Investing Primer
Adjustable Rate Mortgages Offer Alternatives For Home Buyers
Attention To Details Helps Homeowners Sell Fast In A Buyers Market
Avoid Home Buying Blues At Closing
Buying A Home Beginning Stages
Buying A Home Some Essential Tips
Buying a House How Much Home Can You Afford
Buying Home Appliances The Smart Way
Buying Home Whitening Kits like Whitestrips
Conditions Are Right For Buying The Higher Priced Home YouVe Always Wanted
Finance Your Real Estate Investment Properties
Finding A Capable Agent To Meet Your Real Estate Needs
How Can the Average Person Build Wealth in Real Estate
How To Qualify for First Time Home Buyers FHA Home Loan Programs
Important Tips For Home Buyers
Part I Home Buyer Terms and Definitions
Part II Home Buyer Terms and Definitions
Part III Home Buyer Terms and Definitions
Tips For First Time Homebuyers
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Buy a condominium or get a starter home?
by Syd Johnson
Often considered an alternative to home ownerships, a condominium is a form of property where you own one unit in a development plus a share of all common areas. You can find condominiums in cities as well as suburban areas. Condominiums are often considered a first home alternative for young families and upwardly mobile young adults.
Condominiums usually don’t appreciate at the same rate or the levels as detached single family homes. If you want to make a profit on your investment, carefully scrutinize the condo market in your area, the quality of the condo governing board and overall activity in your local real estate market. Don’t assume that you will make a generous profit off your condo because single family homes sales are on the increase.
The governing board can often make a difference between a professional and a horrible condo experience. If you need to a strong degree of control over the outside environment such as pool areas, parking, color of the building etc., then a condominium might not be a good fit for you, or your family.
Also, beware of communities in transition. If a community is on the decline, you can often find a lot of condo openings but you can end up losing big when you try to unload the property later on. Do your own market research and don’t rely solely on your broker to figure out if the rate of appreciation would be conducive to condo ownership in your area.
Also, watch out for oversupply. If developers get ahead of themselves and flood the market with empty condo units, it can take a long time for you to recover your investment.
However, if you live in densely packed, affluent urban area like parts of New York City, Miami or Los Angeles, a condo can yield almost the same rates of return as the average single family home.
Do some research, get professional advice and weigh your long term goals carefully if you are thinking about purchasing a condo.
About the Author
This article may be freely distributed as long as there's an active link to http://www.rapidlingo.com Syd Johnson Editor
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Tips For First-Time Homebuyers
(NC)—Near record low interest rates are opening the doors of homeownership for many Canadians. "This may be the perfect time to consider purchasing a home," says Gail Kassie, Director, Mortgages and Home Financing Products, BMO Bank of Montreal....
Avoid Home Buying Blues At Closing Buying a home is a stressful and emotional affair. You can avoid the home buying blues by keeping your cool at closing.
I’ve just come from a settlement table at which a friend bought a new condo. It’s beautiful, convenient and just what she...
A Real Estate Investing Primer
There are a great many books and web sites devoted to real estate investing out there, but most of them concentrate on one specific area of investing. It's often hard to find a general description of real estate investing, one that lists the...
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