A condo which is short for a condominium is more like an apartment someone owns. Also a private residence within a large building in the same unit that shares common area as other communities. The common units include a fitness center, pools, and manicured grounds. Condos can be in a large building where it might be surrounded by other units or in townhouses that are most likely are attached to one side or both side of other units.
One bedroom condos offer a long list of pros and cons.
1. Less maintenance: one of the biggest benefits of staying in one bedroom condos is that house maintenance is not on you; other people do it for you. They cut grass, fix roofs, and many more services.
2. Security: most of the condos offer gated or locked entries and professional security and doorkeepers for the residence. If you live alone and security is your concern, then this can be reassuring and even people to turn to in case of need.
3. Amenities: condos offer several amenities like clubhouse, which make it easier to get to know your neighbors. Especially if you leave alone and needs to socialize. This is a great peak for you.
4. Affordability: depending on the region or community the price is lower than a single family home.
5. Proximity to city life: most condos are located in vibrant downtown areas, which may be appealing for many reasons. Living near a thriving downtown also makes it easy to visit restaurants, even go shopping and many more.
6. Alcoves or dens are preferable: one bedroom condos have small unenclosed space that can be used to host a guest, however, they are typical fare but in a resale situation. You can also alleviate some of the space for an area desk or even a couch.
1. Homeowner’s association fees: the moment you buy a one-bedroom condo you become a business partner with the owner. Amenities like pool, fitness center and other maintenance all cost money, which means you pay monthly homeowners.
2. Lack of privacy: living in condos is more like living in an apartment, where you have neighbors on another side of the wall, walking up and down the hall and cross thus no privacy guarantees.
3. More rules and restrictions: this is because every owner of one bedroom condos tends to put in place their own rules and regulation, for example, HOA might restrict the number of pets you breed.
4. Difficult selling: not everyone likes to live in condos. This is because families with kids like backyard or balcony and some people just don’t like to live so many neighbors. If HOA demands high dues, this will price people out of buying.
5. Delinquency: since in most condos share the financial responsibility of upkeep with everyone thus if one hasn’t paid their cost, then this causes dues to go up for everyone else to cover the budget hence you are stuck holding the short end of the stick.
6. Space constraints: space for guest, an office, a nursery or even parking space is not available. This makes the buyer pool in the property narrower.