I don’t know if condominium living is the right alternative for you, but as Naperville area baby boomers are entering “empty-nesterhood,” multi-family options are becoming very popular. Perhaps you have strong feelings about the condo lifestyle that may be either for or against this form of ownership.
Some people enjoy the independence of owning a home of their own. They like the idea of not having common walls with any other owners. Other people enjoy the condominium concept because they are at the time in their lives when they want someone else to be responsible for external maintenance including lawn care, snow removal, painting, and roof repairs. Some condo communities also provide social and recreational opportunities through the use of a clubhouse, tennis courts, pools, and exercise rooms.
A detached condominium home may offer you the opportunity to have it all. As the term implies, a detached condo is a single family home that has its own yard and all the other amenities commonly found in any single family home. Usually, various floor plans and exterior designs are available.
These homes are located in an area that has been designated as a condo community. This concept gives you the ability to enjoy the independence of an individual homeowner in addition to the services of a condominium community. Besides your mortgage payment and property taxes, you also would pay monthly dues to the condominium association. These dues would cover the cost the care and upkeep of all common property which would include all landscaping, social and recreational facilities and the exterior of your detached home.
From an investment standpoint, detached condominium homes also have merit. Many condo buyers are previous homeowners who are looking for less worry and upkeep and more personal free time. Yet, some of them are not comfortable with the idea of living in a larger building and sharing common walls with other owners. Detached homes provide them with a good housing alternative. So, there should always be a ready supply of buyers when it is time for you to sell your detached condo.
ADVICE: There are multiple detached condominium homes in and around Naperville. If you are considering selling your home and buying a condominium this year, explore all the alternative with the help of a knowledgeable Realtor®.