The purpose of this report is to identify some of those problems. Some investors will not consider buying these properties, but some people will not buy any other type of leased property for investment.
On the outside, condominium fees, slow appreciation, and earnings competition would seem to restrict their viability within an investment vehicle, but this is not correct.
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What exactly are you really buying?
Unlike detached houses and townhouses, where you have property other than construction, condo ownership is an individual unit only.
Property is generally shared land owned by the neighborhood and enforced under legal rights involving personal rights.
These annual expenditures are often based on a split-interest in the cost of handling the entire community. Clearly, there is considerable cost efficacy in handling and keeping a higher number of components than individual properties.
Monthly fees normally cover all exterior maintenance such as sowing and landscaping if those services are employed.
In a stable market, appreciation is mostly commanded by inflation and demand and supply. All residential real estate enjoys a solid market.
Most American families would favor a huge single-family for a condo. A lawn and a traditional family-oriented area for children are true dreams of developing homes, but the condominium has its own place.
Just how does this link to appreciation? Certainly, a detached house is more desirable for a large section of the public than a city house or condo. But when everything else is equal, it has a lot to do with all of the habitable floor area needed to fit the buyer's needs.
The current economic downturn coupled with unprecedented property investment opportunities has created enormous problems.