Choosing the right real estate investment property can be quite an undertaking. With such a diversity of available real estate, ranging from large commercial properties all away down to single family homes, it’s easy to lose your way. Here are a small number of criteria that illustrates the superiority of investing in condos, over other kinds of real estate.
One of the primary reasons to invest in real estate is the appreciation of your property value, that owning property entitles you to. All forms of real estate appreciate in value over time. So by simply “parking” your investment capital in real estate, you are bound to increase the size of your capital.
Another great reason, that you should consider investing in condominiums over other forms of real estate, is that you receive all the benefits of ownership, without the drawbacks of owning a home. One of the primary complaints I hear about owning a single-family home, is the difficulty of keeping the exterior of the house presentable. Imagine for a moment that you are trying to make your single-family home presentable, so that you can attract a tenant. You have to make sure that the lawn is tended to, the exterior the house looks its best and that your overall presentation is good. The reason for this is, most potential tenants make their judgments before even entering the house. They have to be able to see themselves and their families living at this property, and a lot of that involves the exterior of the home.
When you purchase condos as an investment, the exterior of the property is taken care of for you. Whether we are talking about the building hallways or the actual exterior of the entire building, it is not your responsibility. Your only real responsibility, when seeking a tenant to occupy one of your condos, is to make the presentation of the interior of your property the best you possibly can.
Another benefit of owning condos is the number of things that you won’t have to attend to. It is truly the wealthy individual that can say the words: “that’s something I don’t have to worry about”. With condos, you won’t have to worry about the space outside of your property, choosing a utilities provider for your heating and water needs and managing the cost of extra amenities such as the pool. When you own condos, the only thing you really have to concern yourself with is making your payments on time and enjoying the appreciation in value of your unique and distinguished property.