While purchasing a condo is often considered more expensive than renting, condo living is typically not only more economical, but it can also be less stressful. Condos tend to appreciate enough to become an investment. Despite association fees, they are more likely to be a fiscally responsible choice than renting a house or apartment in the long-term. Condos are undoubtedly less expensive than purchasing a house, but can allow you to afford to live in your desired location. Location, location, location!
Aside from being an economically practical choice, condos reduce maintenance and are generally accompanied by fun, social settings as well as amenities. Close neighbors may seem like a nuisance, but they can also be a really great way to meet people and a convenient way to socialize. You don’t even have to leave the building! Additionally, amenities can allow you to afford a lifestyle you may not otherwise be able to. For instance, condominiums oftentimes have pools. In the DC area, pools are hard to come by, and your association fees will cover access that you may not otherwise splurge to have. Even if your condominium is not fit with a pool, security is an amenity that should not be overlooked. Condominium complexes are almost always more secure than free-standing homes because of their singular access point. Lastly, condominium owners have very little upkeep on their property. While not having a backyard may seem like a drawback, keep in mind that that also means no lawn to mow.
A lack of outdoor space can be compensated for by the access urban living provides. For instance, Meridian Hill Park’s 12 acres is less than a 10-minute walk away from CCRE’s new property, The Morgan. 301 H Street Condos is another CCRE building due to open in the fall. It is also situated near Stanton Park. Check out The Morgan and 301 H Street Condos here: