Washington, DC is chock-full of investment opportunities, all of which are worth considering. Take condos, for example. They’re one of the most popular property types in the city.
Here are a couple of reasons why investing in a DC condo is a worthy endeavor.
Access to a wide range of amenities
Living in a condo entails access to a number of amenities, depending on what the building itself offers. In most cases, condos have recreational facilities such as gym and swimming pools.
There are also community spaces, such as gardens, courtyards, or event rooms, for social gatherings. Services, such as laundry and cleaning, might also be available. Other condos also offer practicalities, such as reserved parking slots.
Since amenities play a large role in your condo living experience, it is always best to know what the condo offers, if it comes free with the residence, or if it requires additional payment.
Less maintenance woes
As a homeowner, you are required to look after your home. When you live in a condo, you are only expected to maintain and keep your condo unit clean. You can leave the maintenance of the common areas, as well as the general upkeep of the building, to the homeowners’ association.
Of course, you still contribute to the overall maintenance of the condo by paying your share through the monthly HOA fees. Before you commit to a condo, ask about what the fees cover and how much you’re expected to pay every month.
Safe and secure living
It is common for condos to have a security team on-site to keep their residents safe. Additionally, there will be safety measures in place. For instance, guests might be required to submit an ID and log in at the front desk. You might also find security cameras installed throughout the building, mostly in common areas.
Should there be any disturbance, you can simply call the management and ask the security team to investigate. Having an on-site team dedicated in keeping you safe sure brings a lot of peace of mind.
Living in a desirable location
Condos in DC are most often located in the city’s best neighborhoods. Best of all, buying one costs considerably less than investing in a single-family home. That means you get to enjoy the perks of living in a central location by only paying a fraction of the cost.
If you travel constantly and want to earn additional income, having a condo in a great neighborhood can also boost your unit’s potential. It is no secret that DC draws its fair share of tourists every year, and rental arrangements, such as those offered in AirBnb and HomeAway, are getting more and more popular.
Living in a condo is optimal if you want more flexibility in your life. Since you have less maintenance to worry about, you can travel freely whenever you want. Some condos allow subletting, which will help you recover housing costs while you are away.
Heller Coley Reed knows DC condos
Are you looking for your perfect condo in the DC metro area? Heller Coley Reed has the market expertise and know-how to help you. Get in touch with your go-to DC condo experts today at 240.800.5155 or 301.674.2829 or hellercoleyreed(at)gmail(dotted)com.