10/26/2026
Have you thought about buying a condo? They can be terrific living situations for some, and not so much for others. Here are a few pros and cons:
Pros:
1. Low Maintenance Living - in most cases, the HOA (Home Owner’s Association) handles exterior maintenance, landscaping, snow removal, common area upkeep and some utilities.
2. Shared Amenities - Access to amenities like pools, clubhouses, gyms, gated entry, or parking.
3. Affordability and Entry Point - Often these have lower purchase prices compared to single family homes in a similar area.
Cons:
1. HOA fees & Special Assessments - monthly HOA fees can increase your ongoing costs and can rise over time. If an unexpected roof replacement is needed, every owner in the building could be charged a special assessment fee to help pay for it.
2. Rules & Restrictions - Some enforce bylaws that can limit pet ownership, leasing policies, guest parking, and cosmetic choices, to name a few.
3. Lender financing strictness - condos must meet specific criteria to qualify for conventional, FHA, or VA financing. This could make selling your condo down the road, potentially harder.
If you have condo questions, send me a DM and let’s chat if it right for you!