Owning a Condo May Be a Smart Choice for Your Big City Living
Today, more and more people are less interested in living in the suburbs and are instead flocking into the cities to live. Metropolitan areas are growing faster than any other areas of the country. Because of this, owning and investing in a condominium in a downtown area is becoming more popular than purchasing a single-family home in the suburbs. In fact, traffic congestion is one of the major motivations for people to move to a condo in the city. Living in the city, with all the amenities that a city has to offer, is becoming more popular than actual square footage. The condo lifestyle has become a smart fit for people who now prefer smaller living spaces with big-city existence.
Why is condo lifestyle so attractive to many homebuyers? These are some of the benefits of downtown condo living.
Walkability
Traffic congestion is one of the major motivations for people to move to a condo in the city. Workdays are long enough without adding an hour or more each way on a daily commute. With the advent of smartphone-hailed taxis, better mass transit options, and the ability to walk to everything you need, why own a car and fight the over-crowded downtown parking situations. Your job, the grocery stores and delis, bars and restaurants, and many entertainment options are within a few blocks of most urban condo communities.
Tiny Living
According to Zillow, 42% of today’s buyers are millennials, for whom tiny living is a popular choice. Owning a condo is a perfect fit for this group of homebuyers. Many of today’s buyers are no longer interested in investing in what are termed McMansions. Not only is this true of millennials, but retiring Boomers are also looking to ease life by scaling back the size of their homes. But a condo doesn’t necessarily mean a two-room, studio-sized home either. Condos usually contain enough space to set up a home office, a gathering room, or a media room. Another benefit is that you regain the lost time usually spent mowing grass, tending the flowerbeds, or doing other outdoors maintenance tasks. These things are taken care of for you.
Social Opportunities
When you own a condominium you are not joining a traditional neighborhood, you are joining an established community. There is a sense of belonging that doesn’t occur in a traditional neighborhood. The condo complex usually has plenty of indoor and outdoor activities that makes it easy to meet and make new friends. Because more and more families are turning to condo living, their children will enjoy having a new friend just across the hall. Parents can feel confident the their children will remain safe within the complex and not be out running the neighborhood where chance encounters with strangers may occur.
Vacationing and Travel Made Easier
If you love to travel for pleasure, or if travel is part of your work responsibilities, owning a condo makes it easier to be away from home for extended periods of time. Just lock the door and go. Most condominiums have a state-of-the-art security system. Your own security system is no longer a necessity, but an option, which helps lower the overall cost of owning a condo.
A Smarter Option
If you are retired, soon to be retired, a single professional, or a family, owning a condo in the city may be a smart choice to consider. Downsizing is becoming a popular trend. Owning a condo can be a lower-maintenance, lower-cost option than a stand-alone, single family home in the suburbs.
Interested on finding out more information on condo living? Contact us today by phone at 215.692.6636, or email us at info@thecondoshops.com.
