Condos as Investment

Condos make good investments because they are very much in demand, everywhere you look there are new condo communities going up all over the place. Some of the attraction to condos is that all of the lawn maintenance and snow removal are covered in your association dues.

Also, some times, you can by the same size condo for a lower price than a single family dwelling or regular house. Condos come in attached like apartments and others that are detached like single family dwellings.

Condos are pretty easy to sell or to keep as rentals. As with any property you buy as investments you want to purchase them below market value, that way you can make a profit. If you plan to buy a condo as an investment to keep for many years as a rental, be sure to check with the complex to make sure rentals are allowed in that community. In some places rentals are not permitted and you don’t want to buy with the intent to rent and then find out you can’t do that. When you purchase an investment property you need to have the exit strategy you are going to use well thought out. You can buy, repair and resale. Buy, fix and keep as rental.

You can also do creative financing such as lease option or rent to own. Just make sure you know what you want your end result to be with this investment, and make sure it will work. Another advantage of condos, is the property taxes are usually lower then the same size traditional home would be. Anytime you invest in something that is in high demand, it can be very profitable. And buying condos as an investment is no exception.

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