While anybody can live in a condominium, this type of property ownership is especially attractive to retirees, young professionals and young couples.
SEE: Determine What Kind Of Home Suits Your Needs
Condominiums are very popular among retirees, including those who are looking to downsize from their previous homes. A condominium community may offer many opportunities to socialize, and certain developments offer services that cater specifically to retirees and seniors. In addition, many retirees enjoy traveling, and the reduced maintenance associated with living in a condominium is attractive.
A condominium may be appropriate for the frequent traveler for whom keeping up with routine maintenance would be a challenge. Additionally, a condominium unit owner may feel safer leaving the unit unattended for frequent or extended periods of time knowing that neighbors are present.
Young Professionals and Graduate Students
Young professionals and graduate students may be interested in condominiums that are located close to work or school. Condominium ownership may also be attractive due to social opportunities, the proximity to urban conveniences, and because condominiums are sometimes cheaper than a single-family home, while still offering plenty of space.
A condominium can be an ideal starter home for young couples. Like other condo owners, couples may find the social opportunities attractive and may enjoy the community facilities offered by the development. Young couples who are not planning or not yet ready to start a family may find the size and layout of a condominium unit to be more practical than that of a house.
InvestingThis real estate investment provides unique advantages - and challenges.
InvestingA step by step look at everything you need to know about purchasing a condo.
InvestingThink of a condominium as an apartment you own.
RetirementMany retirees choose to travel to warm destiniations and far off locales to live out their golden years. Here are some reasons you might not want to do that.
Managing WealthBuying a beach house or big-city pied-à-terre with friends can save money and make sense, but only if you set it up right. Here's how to avoid trouble. thoroughly research and discuss potential ...
Financial AdvisorWhat retirees need to consider when it come to making real estate decisions.
RetirementBalance saving and spending in your golden years with these simple tips.
RetirementA home is frequently a retiree’s biggest asset, and it can hold strong sentimental value, as well. That can make it difficult to know the perfect time to downsize.
TradingStarting to invest can be a scary process. Luckily, steering clear of common errors is half the battle.
Managing WealthLearn the pros and cons of buying a beach condo in California, and how to protect yourself from common pitfalls many condominium buyers experience.