In the recent years, the condominium were not considered as good area to live in. also some people thinks that it is a bad investment if you are investing in a condominium. But the image of leaving in a condominium is changed. Condominiums are only suited for those who prefer to live alone or for single-families. As the reason condominiums are expensive to buy.
Condominium is a building where you can separately live without any worriesand sky everton by sustained land is offering you mind-blowing amenities over there. But condominiums has a lot of disadvantages which we will read in the below section.
Disadvantages such as:
- HOA- monthly home owner association fees:if you are leaving in a condominium then you have to pay monthly maintenance fees which will be separated from mortgage payment and bills. Not everyone can afford to leaving or buying a condominium.
- Lack of privacy: condominiums serves you lack of privacy. If you are leaving in a condominium with a group of individual then eventually you will face this problem. As per this you have to share the common area, balcony, kitchen with other individuals. Also condominiums provide you a common parking area and which is a very big issue.
- Resale value: in the real estate market, the owners of condominium face the loss. Because it is hard to sell the condos as compare to other homesas the reason they are costly.
- More rules and regulations: people who are leaving in a condominium mostly face this problem. There are a lot of rules and regulation for leaving in a condominium.
In the above section, we have covered all the basic and essential information regarding the disadvantages of leaving or buying a condominium.