From maintenance-free living and a “lock-and-leave” lifestyle to strong social connections and resort amenities, condo living comes with many highly desirable perks! Whether you are just beginning to think about condo-living or have already begun your search, consider this array of benefits and lifestyle options that are not typical of single-family homes.
Modern condo communities, like Juhl in downtown Las Vegas or One Las Vegas on South Las Vegas Blvd., are rich with resort amenities, including entertainment areas, lavish pools, state-of-the-art fitness facilities, green areas, and technology resources. People who live in condos have access to these amenities at no additional cost beyond HOA fees.
“First and foremost, one of the biggest reasons people prefer condo living is its lock-and-leave lifestyle that makes travel easy and worry-free,” said Uri Vaknin, a partner at of KRE Capital, which owns the DK Las Vegas portfolio of condos. “Condo living means you don’t have to deal with the hassles of owning a stand-alone home. You have more time to focus on the things you truly enjoy.”
One of the biggest benefits of living in a condo is that other people do the maintenance for you. They maintain the landscaping; clean the pool and fix the roof. You’re only responsible for looking after the interior of your home. This can have a dramatic effect on your lifestyle, freeing up both time and money. While you do have to pay monthly HOA fees, there are no surprise repair bills to worry about, no wasted weekends, and greatly reduced stress levels due to fewer responsibilities. If you’re a first-time homeowner, busy with work, like to travel, or you just don’t want to deal with all those chores, this is a major benefit.
It’s not uncommon for a condo building to provide impressive security measures. Many condos offer gated or locked entries, doorkeepers, or security professionals 24/7. “Security features are a huge selling point. Residents feel a sense of security knowing there is controlled access into the community, as well as courtesy officers and concierges to accept packages and more,” said Vaknin. Plus living in close proximity to others also means that if there were an emergency, you’d have plenty of people to call on.
Strengthening Social Connections
A major advantage of living in a condo is a strong sense of community. Many condo residents love having the opportunity to have regular, unplanned social interactions with their neighbors. And, some condominium communities have lifestyle directors who coordinate ongoing events and social gatherings for residents. Living in a condominium development prevents the isolation that sometimes occurs while living in a single-family dwelling.
Capitalizing on Location
Condos are often centrally located in urban areas. Condo residents find themselves within walking or biking distance of parks, grocery stores, retail shops, and restaurants. They also tend to be more sustainable and eco-friendly than many stand-alone homes.
Generally, condos are priced lower than single-family homes, which means you can keep more in your pocket. Plus, condo insurance also runs less than the cost of insurance for a single-family home.
With all these benefits, it’s easy to see why condo living is growing in popularity with everyone from Millennials to empty-nesters and retirees, as well as busy professionals.