Condo ownership comes with its share of amenities. Before making this commitment, however, you should learn more about condo living and how it differs from owning a single family home. Like any other type of home ownership, you’ll still need insurance to protect your investment. At HBW Insurance Group, we can help you select the right coverage for your Catonsville, MD condo and belongings. Here are a few factors to consider about condo living before you buy a condo.
Sharing is Inevitable
Sharing is inevitable when it comes to condo living. You’ll probably share walls with a neighboring condo along with hallways, common grounds, security, and amenities. Depending on where you live, amenities could include a clubhouse, pool, gym or sauna. If you’re used to greater privacy, condo living will require an adjustment.
Most condos come with fixed living spaces and what you see, is what you get. Unlike single-family dwellings, there’s no option to add a bedroom, office or patio to increase living space in most condos, especially if you share walls. You also don’t own the land surrounding or beneath your condo, further restricting any plans for expansion.
Restrictive Condo Rules
Condos are governed by association rules and regulations that may restrict your current lifestyle. Before investing in a condo, it’s important to know the regulations that will govern your actions. The association may have rules on visitors, parking, noise level, unit maintenance and appearance, night time activities and more. Choosing an area with the least restrictions makes it easier to adapt to condo living and live the lifestyle you enjoy most.
On the flip side, condo ownership offers good security, free landscaping, comfortable living and fun, safe amenities (clubhouse, pool, gym, etc.) within easy reach. You can also obtain affordable condo insurance from HBW Insurance Group to safeguard your new Catonsville, MD condo home.