The well-known phrase ‘there’s no place like home’ carries a lot of meaning for nearly all of us. We all love the feeling of returning to a secure place that we are familiar with and where we can be ourselves.
But interestingly, not all of us have the same idea of what ‘home’ means. To many of us, home is a stand-alone house that we own ourselves, independently, and that we alone are responsible for.
To others, ‘home’ could be a rental property or apartment, where rent is paid on a regularly scheduled basis and repairs and upkeep are the responsibility of the owner. Renting is a very popular option in the U.S., with renters occupying 42.58 million housing units throughout the country.
Finances are a big reason for the popularity of apartments for rent. In a recent survey of renters, for example, more than 50% responded that renting was less stressful than home ownership. They also replied that it was a much better option for housing for those living within a budget.
However, there is another alternative type of housing that fits the a definition of ‘home’. It is a lifestyle that has blossomed in popularity in recent years. This option, of course, would be a condominium.
A condominium complex is a building or buildings with residences (or offices) that are individually owned. Every owner has a deed to the unit they own. But maintenance of the common areas, such as roofs, hallways, yards etc., is a shared financial responsibility.
And of course, since not all condominiums are owner-occupied, a condominium can be rented from the owner, giving renters another great source of possible places to call ‘home’. A condominium can be basic and serviceable…or, a condominium can be a breathtaking experience. Luxury condos have many custom features in the individual units.
The common areas of can be lavish, with lush landscaping, concierge service, a gazebo grilling area with fire pit, and pools with fitness centers–to name a few examples. In fact, 60% of property managers reported in a survey by Apartment Guide recently, and their comments prove this very fact. The property managers said that of all the amenities by requested by their clients, pools and fitness centers were in the top three spots.
So, to sum up, there’s no doubt that buying a home has been–and still is– a major part of the American dream. However, with time, other options for finding a home of one’s own have developed. The idea of living in a condominium is a great alternative to consider when looking for a new ‘home’.
