The great thing about an investment in real estate is the amount of options you have. But what is the right choice for you? Is buying a condo a good investment?
On average, buying a condo is much cheaper than buying any other type of real estate. Another reason why buying a condo is a good investment is because you can profit from it financially by renting out your condo. This is especially profitable in a real estate market with a high rental demand for condos. One of the prime benefits as a real estate investor, you are not directly responsible for any of the building’s maintenance. This means you can forget about mowing the yard, fixing the roof, shoveling the snow, etc.
Condo buildings usually have enhanced security. You need a key to access the building before even getting to the front door of your unit. All units also have an intercom that residents can use to buzz in approved guests. These features add security and makes residents feel safer and keeps solicitors out.