Beyond Realty
Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos. According to Bankrate:
“A condo can be a more affordable entry point to homeownership than a single-family home. And as a homeowner, you’ll build equity over time and have access to tax benefits that a renter wouldn’t.”
That’s why expanding your search to include additional housing types, like condominiums, could help you accomplish your homeownership goals this spring, especially if you can be flexible about the space you need. Condos are typically smaller than a single-family home, but that’s part of what can make them more budget-friendly (see graph below):
In addition to providing more options in your home search and possibly your price point, there are several other benefits to condo living. They tend to require less upkeep and lower maintenance – and that can give you more time to spend doing the things you enjoy. Plus, since many condos are in or near city centers, they offer the added benefit of being in close proximity to work and leisure.
Remember, your first home doesn’t have to be your forever home. The important thing is to get your foot in the door as a homeowner so you can start building wealth in the form of home equity. In time, the equity you develop can fuel a future purchase if your needs change.
Ultimately, owning and living in a condo can be a lifestyle choice. And if that appeals to you, they could provide the added options you need in today’s market.
With more inventory, competitive pricing, and builder incentives, new construction homes in Sarasota, Lakewood Ranch, and nearby counties may offer better value than y… Read more
Whether you're new in town or a longtime local, Sarasota offers unforgettable experiences all year long.
What Stabilized Mortgage Rates Mean for Buyers in Sarasota, Lakewood Ranch, and Surrounding Areas
From bike trails to food truck nights, Wellen Park is redefining community living on Florida’s Gulf Coast.
Your Step-by-Step Guide to Buying Your First Home in Sarasota, Lakewood Ranch, and Nearby Florida Communities
You’ve got questions and we can’t wait to answer them.