Condo or Home? Which one to buy?

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Are you a first time home buyer thinking about a condo vs. a single family home purchase?

Consider the benefits of buying a condo. 

Typically, condo's hold value with less maintenance cost, as general common area maintenance and large repairs are covered by HOA dues. Look for an HOA with healthy reserves and ask about any upcoming projects which may require owners to pay a special assessment fee. Understand the CCR's, covenants, rules and restrictions which govern the HOA and your HOA dues. 

In a single family home you must make interior and exterior home repairs, on demand. It's a larger investment of time and money. The ability to add value to the interior of a condo rather than the exterior, means a smaller outlay for home improvement. 

Bonus...condo pricing is at the lower end of the market. Our East Bay condo market is thriving with units asking $350k and up. Remember to add in HOA costs and consider that condos are currently selling for approx. 10% over the asking price. 

Think of buying a condo as a first step toward your next purchase of a single family home. Connect to discover condo's in the East Bay! 

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968  

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