Looking for investment opportunities? Real estate is ripe for investment. Find out what makes Bethesda and Somerset condos great choices for buyers in Maryland.
Why invest in a condo?
It’s a beginner-friendly property investment.
This is especially true for new construction, turnkey-ready condos, which require little to no repairs or improvements. This makes luxury condos a great entry-level property for investors who don’t know a great deal about renovation work or don’t have access to skilled and trustworthy contractors.
It requires less maintenance and upkeep.
One of the main advantages of condo living is that the homeowners’ association (HOA) takes charge of maintenance and cleaning for exterior walls and common areas in exchange for a monthly fee. This frees up your time for other pursuits and lightens the burden of cleaning and upkeep.
It’s in high demand due to recreational and career opportunities.
It’s fairly easy to market condos to tenants and buyers who want to maintain a certain standard of living. Most condo developments are located within driving distance of offices, shops, restaurants, gyms, and parks.
They’re also more likely to be located within pedestrian-friendly areas where residents are less car-dependent when running errands or meeting friends and family.
And because there’s typically strong demand for condos, these properties offer a quick exit strategy for investors who want to offload the unit and move on to other acquisitions.
It provides access to a wide range of amenities.
As mentioned earlier, condo developments are typically located within close proximity to career and lifestyle opportunities. But why go out when you can get everything done inside the building?
Most condo developments are jam-packed with on-site amenities like rooftop gardens, children’s playgrounds, fitness centers, pools, and jogging trails, depending on the size and price range of the units.
It appeals to minimalists.
Condo living simplifies domestic life for those who want to go back to the bare necessities. As mentioned earlier, condos generally require less upkeep than single-family homes, especially with a HOA managing exterior repairs and maintenance.
The contained space within condo units also urges occupants to be very selective about the objects they bring into the home, as well as to edit their living space constantly.
Luxury condos, in particular, have the added appeal of being self-contained, low-maintenance living spaces without compromising on square footage, finishes, and features.
If you want to sell your Bethesda, MD condos fast, work with luxury condo experts. Heller Coley Reed at Long and Foster is here to assist you.
Somerset condos for sale: How to choose the best one
The old adage “Real estate is all about location, location, location” still holds true, so when choosing luxury condos, find one that is located within a great community. Bethesda and Somerset are always a sure bet when it comes to desirability and convenience.
Do careful research on the market you’re buying in. This will help you determine the best negotiation strategy when purchasing a condo. It will also help you find the best terms for your mortgage.
Most condo developments are governed by an HOA, so make sure that the association in charge is reputable, fair, and transparent when it comes to financial management and conflict resolution.
Ready to find the right Somerset or Bethesda, MD luxury homes? You can reach the agents of Heller Coley Reed (Long and Foster) here. Feel free to reach out at 888.907.6643, 301.674.2829 and HellerColeyReed(at)gmail(dotted)com. As the #1 luxury condo team in Maryland, their experts can provide access to exclusive listings.