One of the Few Times When You May Be Able To Have Your Cake & Eat It Too!
For many owning their own home is lifelong dream. The notion of buying a place, fixing it up substantially or even just decorating and putting your own real mark on the property is an option that rentals don't provide.
However for some having to deal with home repairs, landscaping and occasional improvements are viewed as costly, time-consuming and a hassle. While these folks may automatically think leasing is the only option, in reality keeping the correct home warranty in place with a condominium or a brand new home could be the best option!
More often than not, with Mitch's Buyers, a good home warranty is put in place on the property at closing. For a $100 deductible per incident this provides the buyer great coverage for most mechanical systems, appliances etc., during the 1st year after closing. By maintaining this coverage for the entire time you own the property, versus just the first year, the $40- $60 per month warranty gives you the ability to call one number for most interior related issues just like calling a landlord. You don't need to select contractors nor worry about which contractor will preform.
Similarly, with "Condo type" homes a homeowner association (HOA) board or management firm, hired by the board, deals with the daily exterior and common area maintenance and repairs. So, this gives you as the buyer a second phone number to call for exterior related issues. Plus for some homeowners, that travel a lot for work or pleasure, a condominium can also be a great option since it's much easier to come and go without worrying about daily maintenance, care or security.
Condominiums range from Highrise apartment like "flats" to detached single family homes or zero lot line developments that to most appear to be just like any other home. With zero lot line properties all of the exterior landscape and snow removal is typically handled by the HOA and with some of these properties all of the exterior structure can also be maintained by the HOA. Similarly paired patio homes, where units typically share one or two common walls, leave the homeowner to deal only with the daily maintenance and care of the interior of the condo that can be mostly covered via a good home warranty plan. Townhouses or Row houses usually share one wall with each neighbor and mid rise or high rise condominium developments typically don't have doors directly to the outside but rather a shared common hallway. All of these different types of attached properties provide varying degrees of privacy and traditional "single family lifestyle" but without 100% of the responsibilities associated with traditional home ownership.
If you don't care for an attached property and really prefer a single family detached home, then buying or building a brand new home combined with the right home warranty, minimizes the amount of exterior repairs and surprises. Plus routine maintenance like landscape and snow removal can be contracted out with qualified contractors.