Finances & Money

Would You ever Live in a Condo?

apartments-924786_640Visit just about any major city in the world and you’ll see high rise condominiums being built everywhere. Most jobs are in the heart of the city and there seems to be an influx of people giving up their lives on the outskirts to be where all the action is, despite the rising costs of city living.

If you’ve been living and renting a house outside the city for some time, would you take the plunge and try condo living on for size?

Mini Size Me

The switch from large rooms and wide open spaces to smaller rooms and limited space can be jarring for some people. If you’ve lived your whole life on a big house with a huge yard for example, living in a studio could feel like living in a shoebox. The good thing about this is it’s easy enough to adapt, as long as the space isn’t too small for comfort and the ceilings are high enough.

Another thing to consider is family. If you’re single and ready to mingle, condo living might be perfect for you. The space isn’t too big to clean and you won’t need much furniture if you choose a studio or one bedroom unit. But things change once family is brought to the equation, kids especially.

Children need space for all their toys. If you have three kids, a three bedroom condo may not even be enough because the rooms are a little smaller compared to the rooms in a regular house. You can introduce a little bit of minimalism to your family by getting rid of some stuff, but it may not always work.

Space Jam

While we’re on the topic of space, condo space is somewhat limited. All the built in storage space you see is all there is. If you’re lucky enough to have a balcony, you can’t enclose it and use it as a shed or build cabinets on the walls. The HOA won’t allow it, so you need to be creative with your space and furniture.

Instead of buying pre-made furniture, have yours custom made to fit perfectly into every room of the condo. You should design all your furniture to have built-in hidden drawers so you won’t run out of space to keep all your things. By maximizing every square inch of space, you’ll be free from unwanted and unsightly clutter.

As a last resort, you can either rent/buy extra storage space inside the building if available, or rent storage space outside. This will make sure that your growing family’s larger belongings are well taken care of. If you don’t want to rent extra space, sell, donate or give away all the things you don’t need and use anymore.

Pets

You should also consider old Fido. Some condos are pet friendly, while other aren’t. If you love animals, you’d obviously want to live in a condo that allows pets, so choose carefully and read what you can and can’t have. Some condos only allow small to medium sized dogs and cats, while others allow larger breeds. Ask the HOA for more details.

You have to perfect the art of knowing when your pet has to go, especially dogs. Cats can get by on kitty litter, but be prepared for a little odor especially when you’re not diligently changing it. For dog owners, exercise is also very important for your friend, so choose a condo that’s near a park or find a route that’s long enough to engage your dog.

Available Amenities

If you’re used to running outside, swimming and going to the gym, condos offer all three. Most condos are situated right smack in the middle of the city, and parks are just a stone’s throw away. Most condos also have gyms and swimming pools, so you won’t have to go far for a dip or to lift weights.

The more luxurious the condo, the more amenities you’re going to get plus the unit sizes are bigger. There’s a wide variety of luxurious condos for sale in downtown Montreal, New York, Sydney, Paris and every other mega city in the world. If you’ve got the cash and you want more space in the city, this option may be in the cards for you.

Moving from a house to a condo is a decision that must not be taken lightly. There are both advantages and disadvantages to condo living, so weigh your options carefully before you go all in.

Save More Money in 2018

Subscribe and join the worldwide 52-week money challenge! Get the tools you need right to your inbox.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

About the author

James

1 Comment

  • I would highly recommend a condo to live for single but for family I don’t think so. The space is too small specially when you have kids. I am living in a condo for 5 years being single and I am satisfied and happy. Space is enough for me, amenities are great, I am busy so I was happy because condo has their own maintenance, expenses of course is also expected to be expensive.

Leave a Comment