Why condo living?
Condo living brings with it a unique lifestyle. I have lived in single family homes and I have lived in apartment style condos. I can say without any hesitation that I enjoy the condo living. My wife and I chose the apartment style condo located on the top floor of a complex because of security and peace of mind - it suited our particular lifestyle best for a couple of reasons.
First of all - Other than the upkeep of our own unit we have no other maintenance concerns. We pay a modest monthly "condo fee" that covers exterior maintenance, interior maintenance of common areas including the enclosed heated parking area, amenities room, and other common areas, the reserve fund (more on this later), property management, and building insurance. In our particular complex the fees also include heat and water.
In any structure there will be major repairs over the lifetime of the property. When you own a single family home you are responsible for all of these major repairs - the exception being a new home with limited warranty. Major expenses can be the roof, heating and ventilation systems, general deterioration of wooden structures such as garages, sheds, decks, and fences - all of it expensive. As a condo owner these major expenses are shared by all of the owners and when you follow the recommendations of reserve fund study these major repairs and regular maintenance is looked after according to a detailed schedule with appropriate funds budgeted for. I love that. As much as I did what I could to maintain our family home over the years the annual preventive maintenance costs were quite a heavy financial burden. Now we just pay our monthly fee and kick back enjoying the fresh cut grass and beautiful well cared for trees. Someone else does the planning and all the work and we enjoy a fine lifestyle.
Secondly - with our apartment style condo we can just pack up and head out whenever we choose. We just shut off the water, lock the doors and Bon Voyage. When we return the grass is cut, the building is clean, and we don't even have to give it another thought. Yes! A condo lifestyle is worth checking out.