The American Dream has always included owning your own home, but a home does not necessarily mean a house on a lot. It can also mean a condo. Many Americans are foregoing owning a house with a large yard in favor of small, easy-to-maintain Louisiana condos. There are many reasons to choose a condo over a traditional single-family residence. These primarily revolve around ease of use. Condominiums are easier to maintain than single-family homes, but there are other reasons to choose a condominium.
As mentioned, Louisiana condos are remarkably low maintenance. The facility's maintenance staff performs all exterior maintenance. The only concern residents have is the interior of their individual units. This makes these units ideal for young professionals and retirees.
The cost of having a home gym or private swimming pool often exceeds the benefit, but while living in a condominium, residents can take full advantage of all the complexes amenities. This often includes such facilities as a pool/spa, clubhouse, private gym, sports courts, and park areas. To enjoy the same amenities in s single-family home, a homeowner would need to invest in several memberships. In a condo, the amenities are included in the Association dues.
People often do not even know the neighbors who live three houses down. Even in the nicest of neighborhoods, people live in isolation. This is not true in a condominium complex. Associations routinely organize community events such as barbecues, game nights, and other activities. There is no excuse not to get to know your neighbors. Even if you do not participate in community events, you will meet your neighbors poolside or at the gym.
Stable Property Values
One of the principles on which homes are valued is the principle of conformity. Homes often lose value because they are in a non-conforming neighborhood. This is not a concern when purchasing or selling a Louisiana condo. By their very nature, condos conform to the surrounding properties. All will be the same and property values will remain stable.
The Homeowner's Association
The Homeowner's Association goal is to maintain the property and see to the needs of community residents. To this end, they have meetings and act on the wishes of their residents. By virtue of acting as one body, residents are often able to secure favorable terms on utilities, insurance, and improvements. Owners of condos are required to pay periodic dues to the association. These dues will likely be defined within the sales contract.
As you can see, there are many benefits to owning a Louisiana condo over a single-family residence of comparable size.