7 Common Misconceptions About Luxury Condos

If you’re looking for a home in a great neighborhood, and you’re having a hard time finding something that meets all your requirements, you may want to take a look at a luxury condo. Over the years, condominiums haven't gotten a fair shake, but many people are now turning to condo-living for various reasons like downsizing once the kids have moved out, maintenance-free living, opportunity to live a more active lifestyle, and more. If what you've previously heard about condos has ever stopped you from considering one, here we’ll debunk some of those myths and show that condo living might just be exactly what you need.

Understanding Association Fees

Many people balk about having to pay association fees, but when you take a closer look at the costs of homeownership—you'll quickly notice there are fees regardless of the property type. The good thing about association fees is that they are shared among all homeowners to keep common areas secure, manicured, and to retain any employees that help manage the property. Plus, there are no hidden fees. All expenses are documented and conveyed during the time of purchase, so you know exactly how much to pay and how the fees are assessed. 

You Can Renovate If You Want To

Most people think that when you purchase a condo, you’re stuck with the current layout and design. The fact is that when you purchase your unit, you own the inside space. You can do with it as you see fit—provided you meet standard building codes. So, if you feel the need to renovate your kitchen, your bathroom, or the entire unit — feel free.

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Condos - Not Just For First-time Homeowners Anymore

While it’s true that some condo owners are first time homeowners with families, more professionals and retirees are finding themselves purchasing a condo these days. Condos help provide a maintenance-free and convenient lifestyle. People with busy lifestyles or who want to travel find that condo living accommodates them best. Living in a condo provides the opportunity to pursue goals and ample time to explore life without being shackled to the upkeep that comes with owning a single family home.

Desirable Neighborhoods

Some of the best places to live in Massachusetts have plenty of luxury homes for sale, as well as great luxury condos. Newer condo developments are taking a holistic approach to healthy lifestyle living. This includes great locations that are convenient to top restaurants, shopping, public transportation, and more.

Parking Woes

You might have imagined that finding parking at a condo would be challenging, but most condos come with one or two parking spots, or an option to purchase a spot. Most developments take into consideration that you will have an occasional guest and also provide visitor parking spaces. In neighborhoods where parking isn’t an option, locations are typically close to public transportation.

Privacy Issues

​Newer developments offer secure private areas dedicated to each condo such as a balcony, which also gives owners access to outdoor areas. Other architectural details can also provide privacy. Furthermore, newer developments have a minimum number of units that are built per floor or within a building for added privacy and to make the unit feel more like a single family home. 

Limited Living Space

Most luxury homes for sale offer ample space—and these days, so do luxury condos. New condo developments in some of the best places to live in Massachusetts offer homebuyers the same amount of square footage as a single family home. At the same time, in cases where people are interested in downsizing, a condo is often the only option. 

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​When it comes down to it, times have changed. Today, there are countless benefits to living in a condo over living in a single-family home. If you're looking for flexibility, maintenance-free living, you should speak with your real estate agent about a luxury condo because these are the kind of benefits that you just can’t get with a single family home.