Buying a New York City condominium is an excellent way to become a homeowner without being overly concerned with the amount of upkeep and maintenance expected with a single-family house. Those living in a Manhattan condominium can take full advantage of a wealth of shared amenities, and a team of professional property managers to maintain the building and common amenities.
The word “Condo” is short for condominium. A condo is a separate home within a building housing several properties. A condo is akin to an apartment, except your rent an apartment whereas you own a condominium. The building can be a high-rise, like 35 Hudson Yards. Although you own your condo, you share common areas with other owners. Such amenities often include a gymnasium, spa, rooftop pool dining facilities, a play area for children, and more. The common areas are the responsibility of a condo association. The individual owners pay a monthly fee to cover the budget established by the association.
When considering NYC condos for sale, there are a few things to take into account. First off, consider your lifestyle. If the thoughts of mowing grass, tending the gardens, and pressure washing the driveway give you the chills, then condo living is for you. The same holds with maintenance. Are you financially ready to replace the roof on the house? There are many benefits to condo living. The homeowner’s association deals with exterior maintenance, and the entrance lobby is staffed around the clock. Having other people around gives you an enhanced level of security. This is especially true for older people and singles. Condo living provides you with social opportunities. You will meet neighbors around the pool, in the fitness center, the bar and lounge areas. For those looking to make an excellent investment, condo living is it. Not only is the purchase of a condo an excellent investment, but it can also offer a stress-free lifestyle.