types of condo

Understanding condo economics and why they can be more affordable

Real estate ownership is one of the lowest investment risks and condominium real estate is no different.

Condominiums are a different form of real estate ownership but equally secure and constantly improving. As city populations grow single-family detached home ownership is less sustainable. More and more people are opting into condo ownership and in most cases, it’s a more affordable way to live.

More and more people are opting into condo ownership and in most cases it’s a more affordable way to live

As cities grow and time goes on taxes increase. With a single family detached home municipal tax┬árates consider the sidewalk and roads alongside your home and the items you don’t see, utility lines including electrical, water supply and sewer systems. Taxes are lower for condominiums because they generally share infrastructure.

A lot of people imagine condo fees as money down the drain but if you look closer you’ll see how they can save you enormous amounts of money. Condo fees are designed in part to be the most painless way to afford the big ticket items every homeowner’s face. Paying a small amount monthly is much easier than writing a cheque for a new roof in one lump sum. And there are a lot of big-ticket items to budget for with home ownership.

Owning a stable and trusted condominium will be more affordable than a single family home if done right and different types of condos can benefit different people in different ways.

For more details regarding how condominium ownership can benefit you call Blake King Condominium Realtor® at (403) 350-7672

alberta condo ownership

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