PROS TO CONDOS FOR SALE IN NOVI MI
1) If you are renting an apartment, you should rather be building equity with a condo.
Interest rates make buying more affordable than renting. You'll be paying yourself back through principal payments, and many owners who pay a mortgage can average $4250 back on their taxes per year. If you're looking for condos for sale in Novi MI, it really can't get any cheaper than that.
2) No outdoor work
Perhaps the most compelling reason for looking for condos for sale in Novi MI vs. homes for sale is the maintenance-free living. Unlike a traditional home, if you prefer not to mow the lawn, week the garden, or make any exterior repairs condo's maybe a great home alternative. When the snow falls, no shoveling. All of these things can be taken care of with a home as well, but because of the size of condo complexes, they can usually negotiate a bulk discount where homeowners cannot. That said when shopping for Novi condos for sale be sure to check the association bylaws as each complex is different in what they maintain vs the condo owner.
3) Complex Amenities
Many condos for sale in Novi MI come with a ton of amenities including gyms, sauna's, pools, tennis courts, and more. However, everything comes at a cost. When shopping for condos for sale in Novi MI a great self-discovery question is am I going to use all the amenities many of the complexes offer, or should I look more toward a complex with fewer amenities (no pool/gym, etc) but have lower monthly dues? Many condos for sale in Novi MI have association dues in the middle $200 range per month but lack the pool, clubhouse, and more. Several are fully featured, but association dues here average $325 per month and can climb several hundred dollars higher than that.
4) Freedom to renovate
Homeowners are used to the ability to change kitchens and bathrooms as they'd like, however for buyers looking for Novi condos for sale coming from apartments, the freedom to renovate is new and exciting. If you prefer granite, change the counters. If you want to retile the bathroom, get your hammer and start removing the old tile. Renters of apartments don't have the ability to change these things, and nor would they want to. Why improve someone else's investment. With a condo, like a home, you're improving yours. Word of caution, be careful of over improvement. When putting money into a condo there are improvements that will provide a return on investment, and some things you may just want to do for yourself. If you're looking for a return on the improvements made contact a Realtor on The Perna Team and we'd be more than happy to help sort the value-adding improvements from those that won't.
5) Social Advantages
Many of the Novi condo's for sale are in complexes that have social functions beyond the board meeting.
CONS TO NOVI CONDO'S FOR SALE
If you're coming from a house, Novi condos for sale may feel a little bit tight & take a little getting used to. Before if you had a large yard to walk or the privacy of the woods that may no longer be the case. Many of the condos for sale in Novi MI were built to maximize privacy, however, even the best-built duplex-style condos are still attached to each other.
Though made to preserve the integrity of the aesthetics, it also means one can't paint the exterior Neon Green. The upside is how the condo complex looks now is likely to be how it will always look. No broken down cars on the lawn, crazy colors, or deferred maintenance. Again the downside is some complexes go as far as to restrict pet size and count, leasing of units, and more. Be sure to read and read again the bylaws of any condo complex before buying.
There are two potential issues with parking. Condos for sale in Novi MI with smaller units and no garages may have extremely limited parking with only one or two assigned spaces and only 10-15 visitor spaces per 24 units. Larger units with garages often have regulations against overnight parking in the street. This may pose a problem for families with more than two vehicles. If there's a life at home teen or several teens they may have to do the re-park shuffle every morning to maneuver cars in and out.
Novi Condominium Agents
If you're buying or selling a condominium in Novi, allow our real estate experts to guide you through the process with your Novi condo real estate specialist. As your local REALTOR®, we have exclusive knowledge concerning the unique dynamics of the Novi condo market.
To learn more about agent representation while buying or selling your Novi condominium, contact The Perna Team at Keller Williams. Check out our free market analysis page to receive a condo value estimate within minutes.
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