Condo living is not for everyone, but it does offer many benefits. One of the biggest benefits is not having to worry about maintenance of the exterior of the unit and the grounds. For some people this is the ideal way of living. There are a few typical groups of people that love the condo lifestyle .
The Young Professionals
The first group is the young professional couple. These are people who lead very busy lives. Because of this, they don’t want to worry about wasting what little free time they have doing yard work. The condominium lifestyle offers them an opportunity to live in a property they own without worry over exterior maintenance. Often this group also enjoys the many amenities certain condominium complexes have to offer. From gyms and swimming pools, to community centers and spas, condo living can be a great place for young professionals.
Senior Citizens as Condominium Owners
The other prime group that loves condo living are senior citizens. This group traditionally has already had years of enjoying their time owning homes and caring for yards and gardens. They are often at a point in life where they just want to relax more, travel more and worry about yard work and exterior maintenance less. Condominium living for retirees can be a wonderful way to continue home ownership without all the stressors of exterior property maintenance and care. It often gives senior citizens a great sense of relief when they can own property without these additional home ownership worries.
The Single Person Lifestyle
The last group of people that are traditional condominium buyers are the single person home buyer. These people may come from any age group and are usually looking for a way to buy a home they can call their own. However, because they do not have a family, many single home buyers do not want to worry about exterior property maintenance.
Parents of College Students
This group can include college students looking for condos near the University of Texas. For many parents of students attending the university, this can be a great investment that allows them the ability to help teach their young adults about the basics of home ownership. It also allows them the ability to ensure that their young adult children do not have to keep moving in and out of dormitories, can readily cook for themselves, and can have a place to continue living after college is over if they choose to start a career in the area.
Since parents often do not live in the area, buying a condo near the university can allow their children to have a great place to live without worrying about property maintenance. This is when long term ownership by parents can make sense. Since most property increases in value, parents have few concerns over resale value in these circumstances.
Condominiums as Investments
The last group of buyers of condominiums are investors. These people are looking to buy a condominium and rent it out while it builds appreciation. After a period of years with tenants paying the mortgage, the condominium owner sells the unit and makes a profit. They have few worries over exterior maintenance and most of the mortgage is paid by the tenant. In all these cases, owning a condominium can be most beneficial.