Berlin Condos For Sale
Thinking about buying a condominium as your next home?
Berlin condos and townhomes are generally less expensive than single-family homes, but there are important questions to consider before you decide to buy.
Berlin real estate agents cite lifestyle as the single most important factor to weigh when thinking about buying a condominium, with location and price as secondary matter. So how is living in a Berlin condo different than a single family home?
Condos come with rules and the condominium association will always have a say in changes made to the units. Unlike a single family home you can't just start a remodeling project in your condo without approval of others. Updating a kitchen or bath might not be a problem, but making changes common to the building would require approval. Shared walls and common areas mean it's likely you'll hear your neighbors or run into them more often. And no matter how dense your walls are, like an apartment you give up the privacy you enjoy in a single family house.
When you buy purchase a single family home you also buy the land it sits on and of course, you're responsible for maintaining it. If you hate yard work, don't particularly enjoy cutting the lawn or travel frequently, buying a condominium in Berlin could be a great option. For those that travel a lot, consider a condominium complex that offers keyed entries. This additional level of security will allow you to lock the door and travel without worrying. If you like to garden or prefer to entertain outside on the other hand, a condo may not be a good fit.
The resale value of single family homes is almost always better than that of Berlin condos. Individual condo units are pretty standard while single family homes are often more unique. Other single family homes for sale in Berlin won't be exactly like yours, but when selling a condo the ease of selling yours is more dependent on what else is for sale in your complex. Condos for sale in Berlin are also more sensitive to trends in the real estate market than single family homes. And when the real estate market takes a turn, condos are the first to suffer and the last to recover.
In spite of increased sales and sale prices of condos for sale in Berlin they have not yet replaced single family homes as far as investments go. Because of the preference for families to buy single family, the value of Berlin homes continue to appreciate at a faster rate than condominiums.
Many condominium properties offer swimming pools, fitness centers, and other amenities that would be cost prohibitive in a single-family home, but when you buy a condo in Berlin you're also buying the services offered, like maintenance and professional management. Others offer on-the-spot maintenance people to care for common areas, do repairs in your unit, and let workers in your unit when you’re not home. The fees often include savings for future repairs the you agree to share in, whether you're interested in those amenities or not.
When considering a condo do your homework. Get familiar with your Berlin real estate options, search Berlin condo listings online to become familiar with what's available, ask a lot of questions, review the association rules in detail, pay close attention to occupancy rates, consider your lifestyle and investigate financing options early.
While condos in Berlin continue to pick up pace, most buyers are empty nesters, and young professionals rather than families, who still seem to be gravitating towards single family homes. Investing in a condo however, might allow you to build some equity which you can later apply as a down payment on a single family home as your family grows.