Condo-Buying Walkthrough: Who Buys Condos?
  1. Condo-Buying Walkthrough: Introduction
  2. Condo-Buying Walkthrough: Condo Characteristics
  3. Condo-Buying Walkthrough: Who Buys Condos?
  4. Condo-Buying Walkthrough: Reasons To Buy A Condo
  5. Condo-Buying Walkthrough: Choices When Buying A Condo
  6. Condo-Buying Walkthrough: Condo Features To Consider
  7. Condo-Buying Walkthrough: Condominium Fees
  8. Condo-Buying Walkthrough: Finding Good Deals On Condos
  9. Condo-Buying Walkthrough: What Should You Spend On A Condo
  10. Condo-Buying Walkthrough: Obtaining A Mortgage For Your Condo
  11. Condo-Buying Walkthrough: Conclusion

Condo-Buying Walkthrough: Who Buys Condos?

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

Retirees
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.

Frequent Travelers
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.

Young Couples
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.

Condo-Buying Walkthrough: Reasons To Buy A Condo

  1. Condo-Buying Walkthrough: Introduction
  2. Condo-Buying Walkthrough: Condo Characteristics
  3. Condo-Buying Walkthrough: Who Buys Condos?
  4. Condo-Buying Walkthrough: Reasons To Buy A Condo
  5. Condo-Buying Walkthrough: Choices When Buying A Condo
  6. Condo-Buying Walkthrough: Condo Features To Consider
  7. Condo-Buying Walkthrough: Condominium Fees
  8. Condo-Buying Walkthrough: Finding Good Deals On Condos
  9. Condo-Buying Walkthrough: What Should You Spend On A Condo
  10. Condo-Buying Walkthrough: Obtaining A Mortgage For Your Condo
  11. Condo-Buying Walkthrough: Conclusion
RELATED TERMS
  1. Condominium Fee

    A maintenance fee charged by a condominium complex to cover the ...
  2. Condominium

    A large property complex that is divided into individual units ...
  3. Single Entity Coverage

    A type of insurance policy that covers all real property in a ...
  4. Limited Common Elements

    Elements of condominium living units that are assigned to specific ...
  5. Bare Walls Coverage

    A type of insurance coverage that applies to communally used ...
  6. All-In Coverage

    A type of insurance coverage that applies to communally used ...
RELATED FAQS
  1. Can FHA loans be used for condos?

    Learn about Federal Housing Administration (FHA) loans and how individuals can use them to buy condos on the FHA-approved ... Read Answer >>
  2. How did Peter Young gain infamy as a "rogue trader"?

    Peter Young's notoriety as one of the most memorable rogue traders is not a result of the amount of money he stole, but the ... Read Answer >>
  3. How do I calculate my Social Security break-even age?

    Learn why age plays an important role for when to start receiving Social Security income and how calculating break-even age ... Read Answer >>
  4. How can I avoid paying taxes on my Social Security income?

    Learn how to calculate the percentage of Social Security income benefits that may be taxable, and discover strategies to ... Read Answer >>
  5. How can a reverse mortgage help wealthy and poor retirees?

    Learn about the ways a reverse mortgage can help both wealthy and poor retirees by allowing them to borrow against their ... Read Answer >>
  6. Is Social Security inflation-protected?

    Understand how U.S. Social Security benefits are indexed to changes in prices to adjust for changes in the cost of living ... Read Answer >>

You May Also Like

Trading Center