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Last Updated: Feb 6, 2017 - 2:32:04 PM |
Have you noticed how popular condos are on Grand Bahama Island? If you live in a house you probably wonder why do some homebuyers choose to purchase a condominium instead of a detached single-family home.
The condo is a viable alternative to a single family detached home that allows first-time buyers to own property and start building equity and it can offer buyers the ability to have use of amenities that would costs thousands of dollars and hundreds of thousands of dollars such as beach views, boat dockage, tennis courts etc etc etc. Condo owners also enjoy their freedom from the exterior maintenance responsibilities that come with single-family homes. No painting, no mowing lawns, minimal chores tat go with home ownership. They like having access to all the amenities that are part of the condo community. They appreciate being able to move into a newly decorated home, live there for a few years while equity in their investment grows, and make a profit if they decide to sell.
Location is another deciding factor. Many condo developments on Grand Bahama Island are often located on the beach, on the canal, on the golf course or situated in convenient desirable locations in Bahamia near town or in Lucaya near Port Lucaya Marketplace and hotels. Both younger professional buyers and older “baby boomers” downsizing after raising a family also enjoy the conveniences and lack of responsibility that condos offer.
Current real estate market conditions also make condos an attractive investment. When you buy a condo, you buy a hot commodity in today’s housing market and in our market condos are great investments which work well as income producing rentals as well.
More people are choosing condos as an alternative to the single-family home because they are more affordable, easy to maintain, provide amenities and are a great investment so if you are thinking about real estate make sure you consider condos as well. Until next week.
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