Are you thinking about making a move? If so, you should consider the pros and cons associated with living in Condos On the Las Vegas Strip. The fact is that all kinds of people consider condo ownership due to the flexibility and benefits this offers.
A condo can be a triplex, duplex, freestanding house, townhouse or a low-rise building. They can also be conversions, re-sells or brand new. What makes a condo unique from a freehold house is that you will own your own unit; however, you will also share ownership of the actual land, common areas and building with the other condo residents. You will share the costs with the other condo owners as well, and the property management company or the board of directors will make all of the big decisions.
Some of the benefits offered by living in a condo are highlighted here.
No Outside Maintenance
One of the primary factors that make condo ownership so appealing is the face that all outside maintenance and work will be handled by someone else. Tasks such as mowing the lawn, shoveling snow and repairing any exterior structures are covered by the monthly condo fees that you will pay.
Sharing of Major Expenses
According to the law, a portion of the condo fees that you pay will be placed into a reserve fund. When the property is being managed properly, then the fund will be able to cover repairs such as roofing and window replacement without any extra costs to the condo owners. Even if the reserve fund is not enough, you will not have to cover the costs on your own. At this point, a special assessment will be created so that the costs are shared equally among everyone on the property.
Lifestyle
If you want to live in a one or two bedroom house, you can still own your property, rather than renting an apartment. You will have access to common areas such as recreation rooms and pools which also offer the opportunity to socialize with your neighbors. There are a number of condo developments that also cater to certain groups such as older adults, families and young professionals.
Living in a condo offers the perks of home ownership without having to worry about the responsibilities. If this sounds appealing to you, then you should look into it today.
