Some people only need one reason to buy a condominium as opposed to a house. If you are looking for a new place to live, and are located in an area where condos are plentiful and ideally located, you no doubt have given the prospect of owning one some serious thought. Yes, there are things to consider like monthly or yearly fees, payments following assessment, and living very close to your neighbors, but condo living is not without its many advantages. If you are scraping for just one reason to buy one, here are ten from which you can choose.

1) Buying a condo is a good investment. You could live in one for many years, but if ever you need to move you have the option of turning your property into a rental. Condos are typically a prime rental property in resort areas – you could rent yours year round or during peak seasons.

2) Owning a condo usually means less yard work. If you buy into a high-rise, you definitely don’t have to mow a lawn! However, if you buy into a more spread out community, your fees cover the cost of landscaping.

3) Buying a condo is a better investment than renting. When you rent, you give money away to live in your home. When you’re finished, you have little if anything to show for it. Buying a condo gives you property that is yours.

4) Simple repairs and renovations may be covered in your fees. Unlike with a home, you probably won’t be able to add on to your condo, but simple fixes in plumbing and electricity may be handled by your condo community, so you’ll save time and the hassle of hiring a contractor.

5) You gain access to amenities you might not obtain otherwise. Pool ownership, for example, can produce headaches. Buy a condo with pool access, and you can enjoy the luxury without the stress of maintenance.

6) You want security. Most complexes offer some level of security, be it gated borders or password-protected entryways. Your fees cover this benefit to condo life.

7) You want to de-clutter. Often people move from houses to condos after children have moved away, they have divorced, or they want to downsize. If the maintenance of a house is too much for you to handle these days, scaling down your possessions and moving into a smaller condo is probably the right step to take.

Your job doesn’t suit a house. Let’s face it: houses mean work. You have to make sure everything runs, and that the lawn is neat. If you travel extensively or work long hours, you don’t have time to take care of maintenance. Living in a condo, however, takes some of the load off your shoulders.

9) You like being around people. Condo living puts you in proximity with your neighbors, whereas home living can be an isolated existence. If you are social, a condo community may be ideal for you.

10) Condos are cozy. You want to feel comfortable where you live, and condo living gives you the right amount of space without making you feel claustrophobic.

If you’re looking for a new place to live, considering looking into a condo for sale in your area.

Kathryn Lively

If you are looking for a new place to live, the thought may have crossed your mind to explore options in area condominiums and apartments. Condo living, even in a high-rise community, offers residents a number of advantages one doesn’t necessarily associate with home ownership. If you have considered renting as opposed to buying, however, your options may either expand or become limited. Friends and family might wonder, too, why you would consider paying so much in rent when the money could be used toward paying off a mortgage and eventually owning a home. Is it better to rent than buy?

Unfortunately, there really isn’t a cut and dry answer to the question. Some economists have suggested that renting may be more beneficial in a down economy, while buying a condo helps you achieve equity and represents an investment for the future. If you are still on the fence about what to do for your next residence, here are a few points to consider:

1) Buying a condo may give you more leverage. If you are renting in a complex, whether apartments or condominiums, you might be allowed to attend resident meetings, but you may not necessarily have a right to vote on certain things. Those rights would belong to your landlord.

2) Renting may prevent you from making physical changes to your living space. As a condo owner, you may be held to a covenant that prohibits you from making specific cosmetic changes to your home (usually on the outside), but you can still paint your walls and hammer in a nail if you want to. As a renter, however, you may not even get to do that. You will be held to the wishes of your landlord.

3) Buying a condo can give you more opportunities. If you do know you’re going to move at least once more, you may be more inclined to rent for now so there’s little fuss. However, buying for short term isn’t always a bad idea, especially if there is the potential for turning your property into an income generator. Depending upon the rules of your community, you can rent out your condo and use the money to help pay fees and mortgage.

Whatever you decide, you may want to consult with a mortgage lender to see if you are able to afford a condo or home in your desired location. Even if you do choose to rent instead of buy, you will have a better understanding of your options.

Kathryn Lively

With 2011 all but in the books, it’s time to look forward to a new year with great optimism. 2011 may have been a trying time for some – with unemployment and related financial and health woes to endure – but a new year tends to bring the hope of change for the better. Therefore, it’s not uncommon for some to look into changes that involve moving to a new area to find work, enjoy a change in climate, or to be closer to family. The Hampton Roads area of Virginia, for one, has always been an ideal location for individuals, families, and retirees.

So, what is it about the Hampton Roads area that makes it a potential home for you in 2012? If you desire beach living, you definitely want to explore your options in Virginia Beach and along the Ocean View district of Norfolk. Homes and condos in the area are more affordable than you think, and the “Seven Cities” remain active with many recreation and leisure opportunities. Just a few reasons you should consider moving to the area include:

1) Great schools. Public schools in the metropolitan area are among the best in the Commonwealth. Norfolk and Virginia Beach are also home to renowned private schools, including Norfolk Academy, Norfolk Christian, and the Friends School. If you have children close to college age, you are near Virginia Wesleyan, Old Dominion University, and the College of William and Mary.

2) Weekend entertainment. Residents have no reason to become bored here. You can explore wildlife at the Virginia Zoo in Norfolk, take in a number of historical and scientific museums like the Virginia Aquarium and the Virginia Air and Space Center, and during the warm seasons there is Busch Gardens Europe to enjoy.

3) Great food. Peanut dishes, Virginia ham, crabcakes, and wine are just a few of the delights synonymous with the area. Foodies here look forward to annual Restaurant Week promotions, and the Williamsburg Winery is a great place to visit and sample the fruit of local vines.

4) Location, Location, Location! The Hampton Roads area is ideally located in Virginia. From here, you are only a three-hour drive to Washington, DC and about two hours from the Outer Banks. You can fly to Philadelphia in an hour, and New York City in two. Also, the area is nice if you prefer a “staycation.”

Will 2012 be the year you decide to make your move? Explore your options in Southeastern Virginia and see what opportunities await you.

Kathryn Lively is a freelance writer specializing in articles on Virginia Beach homes and Norfolk real estate.

We are in a situation now where we have the opportunity to buy the condo we are currently renting. After nearly twenty years of renting houses, apartments, and condominiums, we may finally be in the position to buy something and truly call it home. Over the years we have met with various obstacles in the home-buying process – either the market wasn’t good or our financial situation prevented us from buying something where we wanted to live. While things may appear to go our way now, this is still a big decision to make. We have spent much time weighing the decision to buy a home as opposed to continue renting.

Recently I watched a news program featuring an interview with a popular personal finance expert who offered tips on saving money in the long run for retirement. The suggestion of renting over buying came up, which interested me. For years people had encouraged us to buy a house, any house, for the purpose of establishing equity and making an investment that could help us later in life. Easier said than done – looking into real estate where you want to live can be a challenge, as you’ll deal with contracts and possibly bidding wars, even assessments if you are looking into condos. If I have learned anything over the last several years, there are benefits to doing either.

Renting

When you sign a lease on a place to live, you benefit in many ways:

• If you are living in the a temporarily, there is no worry about selling the home at a later date and waiting for somebody to buy before you can buy another home.
• If there are problems with the property – plumbing, fixtures, lighting – your landlord or building supervisor normally handles them.
• Depending on where you rent, many utilities and amenities may be covered for you in the initial rent payment, cutting out extra bills.
• Lawn care may be handled for you.

Buying

Buying a home, of course, gives an owner many advantages:

• Instead of making a rent payment, you make a payment on the house and work closer to owning something rather than investing in a property you may eventually leave.
• You buy a home, you are under no restrictions. You can paint a wall, make additions, and hang pictures without worrying about caulking up the holes later.
• You may have an easier time come tax season. If you buy an historical home, you could receive tax breaks on restoration.

We have not yet made a decision on putting in a bid for where we live yet. When we do decide, however, I feel we’ll be well informed of the advantages of doing either.

Kathryn Lively is a freelance writer specializing in articles on Norfolk homes and Chesapeake real estate.

Buy a home, gain security, you’ve probably been told many times. Buy a home, and you can hammer a nail in any wall you like, or paint the bedrooms green and purple. You can plant a garden in the backyard and a tree for a tire swing in the front, and you can turn your garage into an extra room when the kids move back in. Home ownership allows people many freedoms in terms of design and maintenance, and there’s something to be said for the economic advantages as well. If you are unfamiliar with the financial benefits of buying a home, here is a brief rundown to consider as you look for a new place to live.

1) You will pay fixed monthly amounts. Should you choose to pay for your home with a fixed-rate mortgage, your monthly bill will stay the same regardless of other events – until such a time should you decide to refinance. With renting, you are likely to end up paying a higher rate when your lease renews.

2) Owning a home means building equity. When you rent a place to live, you don’t enjoy the added security of owning property. With equity, you own something of value that can help you in the long run.

3) Eligibility for tax breaks. Depending on your house, you may be eligible for a number of tax breaks and rebates. If you make improvements like installation of eco-friendly fixtures or a tankless water heater, you could benefit when you next send in your return.

4) In a buyer’s market, you may be able to get a good deal on a home for monthly payments lower than rent. This gives you the added benefit of saving money and investing what you pay into something you will own.

5) Lastly, the improvements you make to a house remain yours. You can repaint, make room additions, and landscape for aesthetic beauty. When everything is finished, it stays with you until you sell. If you rent and gain permission to make cosmetic changes to your home, it probably won’t pay off as well. You probably won’t get a break in rent, and when you move you likely allow the property owner to benefit by charging a higher rent to the next tenant.

There are many financial benefits to owning your own home. If you are in the market for your first house or your next, a qualified real estate agent can assist in finding the right home for you.

Kathryn Lively is a freelance writer specializing in articles on Chesapeake real estate and Norfolk homes.

Apartment hunting can be fun, yet exhausting. Whether you are months away from needing a new place to live or in a bind to move, you need to thoroughly research your options and available properties and get as much information as possible – rent, deposit, information on pets and other restrictions, and a timeline on moving in. The property manager or owner will certainly be helpful with your questions about plumbing and fixtures and heating and cooling, but if you want the real skinny on the apartment, you want to talk to the people who previously lived in it.

Apartment managers and owners may be reluctant to offer information on previous tenants. For one, the information is personal and nobody want to risk accusations of privacy invasion. Also, it is possible that a vacated tenant is just not available – he or she could have moved and cannot be reached. If you are scouting apartments that are currently occupied, though, you may have a better chance at getting an outgoing tenant to talk to you about living conditions.

What good is talking to a tenant about to move? For one, a property manager or owner has a greater stake in getting a new tenant to sign a lease. Any problems with the property might be glossed over during your initial tour. An exiting tenant, however, may be more open about issues with the apartment, and therefore help you decide if it’s worth the rent to live there.

Some things a former tenant can advise to you are:

1) Relationship with the landlord or property management company. If you should have trouble with the plumbing, or are late with rent, you’ll want to know how responsive the managers are with regards to your issues. Does the landlord or building supervisor respond quickly when the heating doesn’t work? Will they pitch a fit if you’re a day late with the check?

2) Relationship with the neighbors. You will probably see your neighbors more often than you landlord, and it’s a good idea to know what they are like. Are they noisy and intrusive, or amiable and helpful? You can get a feel for them by talking with a former tenant.

3) Condition of the neighborhood. Are there occurrences of crime where you plan to live? A former tenant can advise you on the what the area is like and if there are problems like crime, heavy traffic, and noise.

Before you commit to renting, find out what living in the apartment is really like from the previous tenant.

Kathryn Lively is a freelance writer specializing in articles on Norfolk apartment rentals and Norfolk home rentals.

Many people searching for homes consider buying condominiums for a number of reasons. Condo communities are typically built in ideal locations – close to shopping and dining and, depending on where you are geographically, local attractions like the beach. A condo owner usually does not have to worry about lawn care and other home maintenance, although may have to adhere to certain covenant guidelines as far as design and renovation is concerned. One reason why some potential home buyers may feel reluctant to buy a condo is the fee structure that accompanies it. You may pay a monthly, quarterly, or annual fee depending on where are you, but it is good to know exactly where that money goes before you decide to offer a bid.

So when you buy a condo, where does that fee money go? Well, depending on the size of the community, you will either pay a fixed sum each month or find that your fee assessment varies according to the growth of your neighborhood. Your condo association board typically determines the fee structure and budgeting for the money collected. It may go toward paying a variety of expenses, including:

Home and lawn improvements: The condo board may hire a landscape company to come in regularly to maintain the lawns and shrubbery around homes, the building unit, and other property. Minor home repairs and improvements like exterior painting, balcony and deck repair, and other general maintenance may also come out of these fees.

Security and payroll: Most condo communities have staff on hand to assist potential buyers and residents. These could be on-site caretakers, marketing staff, and security officers for gated communities. The fees you pay may contribute to their paychecks.

Access to and maintenance of common areas. If you live in a community with a swimming pool or fitness center, the fees you pay go toward maintaining those facilities – power bills, new equipment, and repairs.

Emergency services. It is not uncommon for a condo board to reserve a set amount of money in the budget for emergency situations, like purchase and maintenance of a power generator following an outage, or repairs to the general power plant.

The condo fees you pay are designed to help maintain and beautify the area in which you live. If you have concerns about rising costs, you may consult with your condo board for a clearer idea of your association’s annual budget.

Kathryn Lively is a freelance writer specializing in articles on downtown Norfolk condos and Virginia Beach condos.

There’s no place like home, and no matter where you live you can make the best of your humble abode through maximizing your space and decorating for comfort. If you are in the market for a new place to live, you may have considered buying a condominium, but still wonder about the pros and cons of condo living. If you are not completely sold on a condo, you should know that there are a number of benefits one can enjoy, many of which are not available with a single family home.

Let’s take a look at some of the benefits to condo life:

Security: Most condominium complexes offer security amenities. This could include a gated property line with hired guards, security cameras, or a building with an external code needed for entrance. If you value your privacy and are not interested in door to door peddlers interrupting your home life, you can consider a condo community that protects you and your property.

Fitness Access: Some complexes offer residents access to on-property fitness facilities and swimming pools. The maintenance of such amenities typically comes out of your condo fee, leaving you free to enjoy them. It also eliminates the need to join a health club and travel to get your exercise.

Social Opportunities: Some complexes may sponsor events and parties for residents. If you are interested in getting to know your neighbors better, these events are great for breaking the ice.

Cable or Satellite TV: The condo community you choose may offer premium satellite or cable service with the residence. This is done sometimes to keep the service uniform, so that some residents do not have satellite dishes on their balconies.

Yard Care: Depending on the structure of the complex, you will not have to worry about mowing a lawn or landscaping. Your condo takes care of that for you.

Concierge Services: Upscale condo communities may offer you a variety of concierge services to make sure you remain comfortable. These could include dry cleaning, home repair, and taxi service.

Living in a condo may seem restrictive for some potential home buyers, with worries of space and parking issues looming large. If you are looking for a good investment that can help you in the long run, however, consider shopping for a condominium and see the potential for you new home. Whether in a contained building or part of a larger complex with detached homes, there is something for every home owner.

Kathryn Lively is a freelance writer specializing in articles on Norfolk real estate.

Whether you have just moved into your house or have lived there for several years, you are bound to eventually face issues in the winter. If you live in a region susceptible to cold weather and snow, you definitely want to stay vigilant and be ready for problems that crop up while you are trying to stay warm. Here are just a few of the more common issues you, as a homeowner, could face in the later months.

Leaky Roof – If you find you are running your heater at a higher level than you should, it could be an indication that your roof has a leak. Roofs are built to ventilate properly so you don’t experience too many problems with your HVAC system, but a leaking roof allows heat to escape your home at a faster rate, which in turn causes your heater to work harder. Your energy bills, as a result, rise. Therefore, it’s wise to have a roof inspection before the weather gets too bad.

Moisture Problems – Notice any condensation streaking down your windows on the inside? When your windows are cold from the winter weather, the humidity in your home turns into moisture. If left untreated, you could find a growth of mold in your home, which in turns causes health problems for those breathing in the air inside the house. It’s important to make sure proper ventilation keeps this from happening.

Freezing Pipes – You turn on the shower or sink and nothing comes out, or if it does the water flow isn’t consistent. There could be a problem with pipes freezing in the wintertime, so it is good to take precautions to make sure it doesn’t happen when you need hot water the most. You may wish to consult with your plumber for precaution so your water flows uninterrupted during the winter.

Garden Problems – Some plants are capable of surviving harsh weather, but if you want to keep your landscaping up through the colder months you may want to consult with a professional lawn service for advice on properly winterizing your grass and shrubbery.

Home ownership instills pride, and when you take care of your home it will take care of you through the later months when it is cold. Be aware of problems that could arise when it starts to snow or sleet, and you’ll be ready to tackle them easily.

Kathryn Lively is a freelance writer specializing in articles on Norfolk real estate.

Whether you have owned your home for two years or twenty, you should always maintain a strong interest in the house’s current value. Having your home appraised every few years is not a bad idea if you are interested in the conditions of your neighborhood and surrounding areas. If you are not certain why you should have your home appraised if you do not plan to sell, here are a few reasons to consider.

1) It is always good to know the resale value of your home regardless of your plans to move. This also gives you an idea of what other homes in your area are going for, and this may actually influence you to reconsider staying put. You may wish to try for an upgraded living space elsewhere, or even invest in a nearby home to rent.

2) An appraisal can help you determine if improvements to your home are needed. You may have wanted to have renovations done to your home, but maybe you held back because you weren’t sure of the value of an addition, or upgraded fixtures. Having your house appraised may help you decide if fixes can improve your home in more ways than one.

3) An appraisal may alert you to potential dangers in your home. You may not realize you need a new heater or furnace until somebody points out to you that it’s time to replace these things. You may also spot emergency fixes before they get out of hand and you’re required to spend more down the road to make everything right.

4) An accurate home appraisal can help you determine insurance costs. If you feel you’re paying too much for home insurance, or perhaps you need more coverage, such an assessment can help you decide what you need to do.

5) Appraising your home is important if you plan to leave the property to your children or spouse in your will. If they know the value of the house, it will make transition of ownership and taxes less of a headache for them.

6) Lastly, if you are divorcing and one spouse will keep the home, an appraisal will determine the amount of continued payments if the other spouse will contribute. If you plan to sell after divorce, you will have a better picture of asking price when it goes on the market.

Home appraisals are done for reasons aside from placing value on a home to sell. You can benefit in many ways. Consult with a professional today to learn more.

Kathryn Lively is a freelance writer specializing in articles on Chesapeake real estate and Virginia Beach homes.