This page uses JavaScript. Your browser either does not support JavaScript or you have it turned off. To see this page properly please use a JavaScript enabled browser.

Matadors Community Credit Union may collect the following information from users of our website. To see how this information is used, click here to go to our privacy page. Information we may collect: IP address, browsing history, search history, products and services considered, geolocation data, and information about your interaction with our website, application or advertisement. If you complete an online form, we may also collect your name, e-mail address, physical address or phone number that you provide to us.

 Matadors Community CU Go to main content


5 Benefits of Investing in Condos for First-Time Buyers
5 Benefits of Investing in Condos for First-Time Buyers8/21/2019

smiling young couple standing together on balconyBuying a home involves a lot of choices - locations, types of homes, types of loans, and more. As a first time homebuyer, you have the freedom to choose what type of home you want to purchase. One that might be a good fit is a condominium (condo). The condo market continues to increase and may expand the possible home options to choose from in your area.

What’s so special about condos for first time home buyers? We’re sharing 5 benefits of buying condos so you can decide if they might be right for your homeownership needs.

5 Benefits of Investing in Condos
1. Lower Price/Down Payment

Condos can be more affordable options for first time home buyers. In many areas, a condo may be priced a bit lower than the average purchase price of a house. A lower purchase price means a lower down payment and less money to come up with out of your pocket. Try using our Mortgage Loan Calculators to see if you might be able to afford current condo prices.

2. HOA Handles Landscaping/Improvements

Condos have a Homeowners’ Association (HOA) that governs the development or complex. There are rules for each condo community. By paying a monthly fee to your HOA, they handle all of the outside common areas of the condo complex or neighborhood. That means you don’t have to stress over maintaining landscaping, doing weekly yard work, or making repairs to outer fences and parking areas. If you prefer to spend your weekends on relaxation and recreation instead of mowing lawns, a condo might be the right fit for your lifestyle.

3 . Customization Inside

Condos belong to you, the owner, and that means you don’t need anybody’s permission to paint your inside walls the color you’ve been dreaming of. You can hang pictures on the walls and renovate inside as you see fit, just like you would inside a house. Condo ownership puts you in more control than you had as a renter.

4. Community Amenities

Condos vary, but there are many that offer community amenities, similar to apartment complexes. These amenities might include things like a swimming pool, clubhouse for use, fitness room, walking trails, or even group recreational activities. If you like the extras but can’t afford to get them all with a house, a condo complex with plenty of amenities may be just what you’re looking for.

5. Investment Property Possibilities

Condos for first time home buyers can turn into investment properties down the line. When you’re ready to make the next move in your homeownership journey, you can decide whether to sell your condo or turn it into a rental property and add to your income stream. Be sure to consult your accountant as you look at how investment properties might work for you.

Once you’ve considered the benefits of investing in condos for first time home buyers and asked yourself the right questions, we’re here to help you take that next step. Talk to a loan advisor today about how to start the mortgage process and move toward your homeownership dream!


« Return to "Matadors Money Matters Blog"
Share: Share on Facebook: 5 Benefits of Investing in Condos for First-Time Buyers Share on Twitter: 5 Benefits of Investing in Condos for First-Time Buyers
No comments have been posted yet.
Post Comment

(Only last initial will display on comment)

(Not displayed on Comment)

Security Code:
What's this?
Go to main navigation