Pro's of buying a condo is that of course you build equity in your home that will gain value in the end. Generally as in any home is that you use the equity to buy another home when you sell or refinance and cash out.
In this type of environment you are not responsible for the roof and exterior of the home to include lawn services. All maintenance free for the exterior of home. This can open up free time to enjoy more personal or family time depending on your status.
Typically, many of these units comes with gated community, man gated, roaming security, movie room, pool table, restaurant, clubhouse, basketball and tennis courts, sauna and community swimming pool, pickle ball, volleyball, sauna and bar. Prices are pretty much affordable on all units. Depending on what is also nearby promotes these type of communities. Some units may have garages.
The con's are all of the amenities are offered to all owners and upkeep of the grounds, roof's, clubhouse, swimming pool, tennis courts, gate guard, painting are all included in the homeowners monthly fee. Some of the fees can be high as 500.00 per month. All communities vary in amenities and monthly homeowners association cost. From time to time there are homeowner associations that possibly mismanage funds for long term projects, this can cause issues that can lead to homeowners paying unexpected expenses.
There is a lack of privacy because you may have owners living on top of you and next to you. This brings unwanted noise. Some units may not have garages.These dwelling's are not for everyone.
There is definitely other competition right within the complex, however the homeowners fees may drive many buyers away. This is why selling prices are lower than what you may expect.
Trust your local home advisor Kevin Strawter at 850 496-6412 to steer you in the right direction. Serving Dr Phillips and Central Florida. Click here to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html