Are you an aspiring homeowner confused between buying luxury condos for sale in Los Angeles and investing in a luxury house instead? Rest assured that you are not alone. While both these housing options have their perks, here are a few reasons why buying a condo in Los Angeles instead of a house may be your best bet.
Difference Between Condos & Houses
The main difference lies in terms of ownership: house ownership includes owning the entire land that it is built on, while condo ownership only includes the living space in the condo. A condominium, also known as a condo, refers to a private residential unit that is present within a multiunit project, building, or community. Condos are usually similar to apartments that share walls, but they can also be fully or partly detached. Such residencies share common external and internal facilities and amenities. A house, on the other hand, is a completely independent unit that has privately owned spaces and facilities.
Benefit 1: Condo Needs Lesser Maintenance Than a House
Maintenance is one of the main reasons many individuals choose a luxury condo over a house. As the owner of a condo, you are only responsible to take care of the interior of your home and the Home Owners Association (HOA) handles the outside. This means that you no longer have to worry about replacing broken windows, shoveling snow, mowing lawns, raking leaves, or other similar outdoor maintenance tasks. This is a huge benefit for homebuyers who don’t have enough time or energy to keep up with the maintenance needs of the exterior of the house.
Benefit 2: A Condo Is Cheaper Than a House
The price of the condo depends on its size, neighborhood, and the cost of living in that area. Market surveys show that most luxury condos are much cheaper than a house and that single-family detached luxury houses tend to appreciate faster than condos. Keeping these considerations in mind, a condo is the perfect dwelling for you if you are looking for affordable living options. Bear in mind that a lower property price also means a low down-payment and affordable monthly payments.
Benefit 3: Condos Are Easier to Find Than Houses
Most luxury condos for sale in Los Angeles are easily accessible as compared to the luxury houses. This is due to their space-saving abilities and unique structure that allows for multiple condos in a space that could’ve only accommodated one house. Condos are dense-packed and often located in areas that have closer access to education and employment opportunities – so you can expect to save quite a lot of time and money on your commute.
Benefit 4: Condos Provide a Greater Access to Amenities
Did you know that a condo can provide you greater facilities than a house? The truth is that despite the smaller living space inside a condo than a house, most condominium neighborhoods are packed with multiple luxurious services that are open to all the condo owners living there. These on-site amenities include gymnasiums, park areas, swimming pools, parking areas, etc. While many homeowners need to commute to avail such facilities, condo owners can easily avail them without even leaving their property. The best real estate agents in Los Angeles can help you locate such neighborhoods that offer more for less.
Benefit 5: Condos Give a Sense of Community
No one can deny that t condominium neighborhoods provide an increased sense of community and the potential for building social connections. This is because condos are present in closer proximity and encourage social interactions more often than any suburban neighborhood that feature houses. They create a level of intimacy that is likely to attract people of similar interests and backgrounds. The share recreational facilities and services welcome condo owners to socialize and congregate around. This proximity also establishes a sense of security and trust. Detached single-family houses, on the other hand, are designed to create a distance between neighbors and barely allow such interactions.
Condos are extremely beneficial for millennial generation buyers or those who have a minimal homeownership experience and little time for maintenance. They are also ideal for small families who want a luxurious lifestyle within a limited budget.
If you’re convinced about buying a luxury condo in Los Angeles, contact Pezzini Luxury Homes right away!