Set,Benefits,Condos,The,term,c travel,insurance A Set of Benefits to Condos
Torres del Paine is among the biggest of Chiles national parks, occupying almost 600,000 acres (242,000 ha) of land in the south on the border with Argentina. It is also among the most important, receiving a significant proportion of domes Like any American, traveling occasionally is just what I love doing and I bet you share the same stuff with me. But traveling does not mean that you would be safe. Escaping from our job and other stressful activities is just something that w
The term condominium or condos is used colloquially and sometimes synonymously with then word apartment, but a difference is denoted in the actual meaning of the two. A condo refers to an apartment in a complex that is owned rather than rented. It is also a misconception that these homes are bigger and more luxurious. They, in fact, can range from studio size apartment to pent houses. Ownership really is the only thing meant to be implied by the term. This usually brings up two questions by inquirers. Why buy condos rather than rent a similar unit? And, Why invest in this type of real estate as opposed to a single family home?The benefit of homeownership as opposed to renting is quite clear. Buying is an investment. Owners are paying a monthly payment in exchange for equity. As the mortgage is paid, an owner sees his assets raise and his liabilities decrease. Renting is throwing money toward housing without any financial benefit. Sure a mortgage payment will initially seem steeper than rent on a similar unit, but many factors should be considered. Ownership has tangible tax benefits. The deduction gained by ownership will outweigh the difference between the cost of owning and renting. Rent is likely to be raised annually by complex owners as their overhead costs rise. A mortgage payment will remain the same throughout the life of the loan. Also consider that a payment on an owned unit includes what banks call PITI (principle, interest, taxes, and insurance); a renter must consider renters insurance on top of the monthly rent.Living in condos has some immense benefits over traditional home owning. These homes are a part of a complex that houses many units, and the inhabitants share ownership of mutual properties. With the cost of monthly mortgage (and possibly an HOA fee), the amenities of a pool, a clubhouse, a fitness center, a walking trail, a tennis court, etc. are part of the deal. The conveniences and simplicities of apartment living are enjoyed with the benefits of ownership. The owner of the building takes care of outdoor maintenance such as the lawn, the gutters, painting, wear and tear, and some buildings will also include the availability of maintenance indoors. Imagine owning a home, but being able to call someone else to change fix the dishwasher, unclog the toilet, or adjust the hot water heater. In comparing the two options, weigh the benefits of your individual situation. If your job is a transient one, such as the military, the economy at the time of purchase/rental may weigh heavily on your decision. Renting may be smarter in a poor housing market, but be sure and include all the benefits of owning in the equation. Tax benefits, built equity, and the value of time will usually tip the scales toward home ownership.
Set,Benefits,Condos,The,term,c