Condos for Sale in South Lyon MI
The most complete and up to date search for Condos for sale in South Lyon MI. This site is updated every 20 minutes with new condos for sale in South Lyon MI. Unlike Zillow and Trulia, this site has a direct feed from the MLS and once homes are sold or off of the market, they are removed from this page as well.
South Lyon Condo Listings
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South Lyon Condo Living
Condo living is a great and ever-changing lifestyle! The demographic of the person looking for South Lyon condos for sale has changed quite a bit over the last 30 years and now more readily we see young professionals short on time, and families that are not big fans of exterior upkeep moving toward condos. But are condos really the best lifestyle for everyone? Let's explore the pros and cons.
Pros to Condos for sale in South Lyon MI
1) If you are renting an apartment, you should rather be building equity with a condo. See our Buy vs. Rent Blog Post Here for deeper details
Interest rates make buying more affordable than renting. The average apartment rents in South Lyon are now averaging $1460 per month. With Taxes and Association dues that are equivalent to a 245k condo purchase. At the same time, you'll be paying yourself back $250 per month through principal payments, and most owners who pay a mortgage at that level average $4250 back on their taxes per year. That's a combined total of $600 in incentives, bringing the real cost of condo ownership to $860 per month. If you're looking for condos for sale in South Lyon 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 South Lyon 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 condos may be 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 South Lyon condos for sale be sure to check the association bylaws as each complex is different in what they maintain vs the condo owner. Country Club Village and Blue Heron, for example, do not maintain the decks of the individual condos. The owners are regulated on what colors can be used in staining or painting, however, it is the owner's responsibility to stain in these two complexes.
3) Complex Amenities
Many condos for sale in South Lyon 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 South Lyon 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 South Lyon 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 South Lyon 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 South Lyon condo's for sale are in complexes that have social functions beyond the board meeting. Country Club Village does a quarterly resident breakfast at the Senate. South Lyon Hills has been known to have Casino nights, Blue Heron owners have at times split the cost of boats and more.
Cons to South Lyon Condo's for sale
1) Privacy
If you're coming from a house, South Lyon 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 South Lyon MI were built to maximize privacy, however, even the best-built duplex style condos are still attached to each other.
2) Rules
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.
3) Parking
There are two potential issues with parking. Condos for sale in South Lyon 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 live-at-home teen or several teens they may have to do the re-park shuffle every morning to maneuver cars in and out.
All in all, condo living to the author of this article (Michael Perna) has always been a blessing. The time saved by not doing exterior maintenance I get to spend with my family is cherished and invaluable. However, the same campouts in the back yard I used to do growing up isn't an option in a condo and something for young families to bear in mind.