Reasons To Consider Condos in Your Home Search

"The decision to rent or buy a home can impact your life for years to come… A condo can be a more affordable entry point to homeownership than a single-family home. And as a homeowner, you'll build equity over time and have access to tax benefits that a renter wouldn't."

That's why expanding your search to include additional housing types, like condominiums, could help you accomplish your homeownership goals this spring, especially if you can be flexible about the space you need. Condos are typically smaller than a single-family home, but that's part of what can make them more budget-friendly (see graph from the National Association of Realtors below):

On top of offering more options in your home search and possibly your price point, there are several other benefits to condo living. They tend to require less upkeep and lower maintenance, which can give you more time to spend doing the things you enjoy. Plus, since many condos are in or near city centers, they offer the added benefit of being in close proximity to work, shopping, and leisure.

Remember, most people’s first home isn't their forever home. The important thing is to get your foot in the door as a homeowner so you can start building wealth in the form of home equity. In time, the equity you build up can be leveraged into a future purchase as your needs change.

Ultimately, owning and living in a condo can be a lifestyle choice. And if that appeals to you, they could provide the added options you need in today's market.

In today’s environment of low housing inventory adding condos to your home search makes a lot of sense. Regardless of the type of home you want to buy the first step is learning how much house you can afford by getting pre-approved for a mortgage. Moreover being pre-approved lets you make offers that sellers will know are serious.

Let's connect today so we can answer any home financing questions you have and, if you’re ready to buy a new home, get you pre-approved for a mortgage.