Deciding where you want to live is a huge deal! Not only is it going to be the place that you enjoy day after day and see as a refuge from the rest of the world, but it's also going to be the biggest financial choice you make, other than your family of course! You'll want to make sure that you seriously think about every element of your home. If you're considering a condo, here are some essential pros and cons to think about.
Pros and Cons of condo living
PRO: No exterior upkeep
This will be a huge pro to those who hate lawn mowing, landscaping, raking, watering and the like. Everything outside of your condo's door is going to be someone else's problem! It's a great pro since you get to take on all the enjoyment of that outside space and none of the responsibility that goes along with it! What’s the expression about stopping to smell the roses…?
CON: There are extra dues and fees every month
Well, technically, there is a bit of responsibility. There are fees and dues every month (sometimes lumped into an annual sum, depending upon your condo association) that you will have to pay on top of the mortgage that you have on the condo. You can't opt-out of these fees and, like rent, they can go up.
PRO: You're part of a community
It's nice to know that you've got people around you and that you're all looking for the same things when it comes to a living space. It can be nice in comparison to often disjointed apartments or even traditional suburban neighborhoods. It does mean that you have to like your neighbors, of course. But hopefully you picked the right neighborhood and you'll get the right neighbors as well.
PRO/CON: The HOA
It depends on how you view the HOA for your condo. Some see it as a blessing since the HOA will determine everything from landscaping to maintenance schedules. Others see it as a negative because there are often strict rules associated with being involved with a specific HOA.
If you do see it as a con, then you'll want to take the time to get familiar with their rights and, more specifically, the end of those rights. The HOA has specific responsibilities that go along with those rights that they will enforce with you. Vice versa, you'll also have to take on some responsibilities, both in following those rules and making sure that you've got the right condo insurance policy to help protect you. If you are lucky, that comes with the best independent insurance agent as well, you know, like Harbour Insurance Services!
Not sure what kind of policy to look at or what those rights and restrictions will mean? That's where sitting down to talk with your insurance agent can help. They'll be able to advise you on what you should know about dealing with the HOA and how your insurance policy will factor into that to ensure that you are covered for everything you need.
Whatever your decision might be on whether the pros or cons are stronger, a condo is a great option to consider when you're looking at putting down roots in the right area, like League City, Texas. The rest is going to be up to you in deciding whether or not this is the right choice.
Contact Harbour Insurance Services at (281) 520-4090 to get started on discussing a condo or home insurance policy today.