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Originally Posted by shimmy23
we're also considering a condo investment since that is where we have been staying when we go. any perks to a condo vs a home in this case? why did you decide on a condo?
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We spent about 2 years thinking over small house vs. condo. In our case, we can’t use the property a ton (yet) and we were concerned about leaving a house unattended, maintenance, etc. The condo takes care of most of that - just shut the water main off and leave. The condo is also in a great location (downtown Asheville, NC - actually here right now) where there are no houses. It was also new construction at an attractive price and it had limited amenities, which is what we wanted to keep a lid on dues. We have parking and a nice common area, but nothing like a gym, pool, etc.
All that said, there are some downsides. The original construction had some issues (none affecting inside our unit but we had repairs done on our balcony) still being worked through with the builder. I got on the COA Board in large part due to these issues and wanting to make sure they get addressed. There is noise in a condo and, of course, other people. We have different people with different interests - some full time owner-residents, some owners who rent long term, part timers like us and owners who operate short term rentals. Sometimes those interests collide, but most of the time it is ok and generally we like the people here. I do worry about long term maintenance and what that will do to dues, so I’m not sure we will stay indefinitely, but overall we’re happy with it.