Existing home sales rose nationally throughout 2013 – and included
in those numbers were a good many condominiums. If 2014 will find you investigating
the market for a new home, it may be time to give condo living a serious
thought. Buying a condo in Charleston,
SC can provide many of the benefits of home ownership minus much of the worry that
goes with keeping your property. Of course, whether buying a condo is the right
housing solution depends on the buyer as well as the particular condo itself –
but there are some generalities usually hold true.
Most condominiums include a variety of amenities for the owners. There may be
an on-site fitness center, or a pool. Owners may also have access to a club
room, or even other features that some of the larger upscale developments offer,
such as on-site shopping, hair salons and concierge services.
Whether you call it an ‘amenity’ or not, never having to
shovel snow, mow the lawn or worry about property upkeep is certainly welcomed
by many. If you are buying a condo in Charleston, SC , you’re usually buying
everything from the drywall inwards – the rest is owned by the development.
Those amenities don’t come for free. Typically, you’ll be
required to make payments to the Homeowner’s Association, or HOA. These fees
can be tiny or considerable: ranging from a couple hundred dollars a year to as
much as four figures a month. The variation in those numbers make it mandatory
to include the HOA fees in your
budget when you’re shopping for a condo. Your savings on home insurance and
property taxes can be given back in HOA fees.
Many people are drawn to condo living principally because of
the accompanying worry-free lifestyle.
You get your own living space, are free to modify it, and are working towards
owning it rather than just paying rent. However, this lifestyle isn’t right for
everyone: you sacrifice a degree of privacy, and don’t have your own yard.
The luxury of condo living will only be enjoyed if you’re
comfortable with the lifestyle that goes with buying a condo. Then, if you do
think you might be a buying a condo in Charleston, SC this winter, call me to
review today’s best inventory!
Interested in selling your
Charleston area home? Visit: www.jeffcookrealestate.com
Interested in buying a Charleston
area home? Visit: www.discovercharlestonareahomes.com
-Jeff Cook
Jeff Cook Real Estate
Charleston, SC
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