Buying a condo for a second home can be all sorts of a good thing. After all, unlike a house, a condo usually comes with the facilities of the building in tow. That means access to gyms, pools, tennis courts as well as to a golf course or the club house. If you want these in the bag, then a condo is a sound buy. You can also look forward to the following:
Community
A lot of people in condominium developments feel a strong sense of community. It’s not hard to see why. Neighbors often get to know each other over time and living in close quarters can encourage these relationships even further.
Great location
Condo units often have this going for them – location. The buildings are usually constructed along major roads and highways or as, in the case of vacation homes, have killer views of the water. You’ll be minutes away from where all the action is happening. Consult local realtors like Jane Kelly to get access to the best listings of Lake of the Ozarks condos for sale in the area.
Cost
Buying a house and property could amount to several million dollars. However, condos are likely to cost less than that. If you and your family want weekends spend at the beach, this is a good way to get that wish without having to spend too much on a home.
Equity and Tax Advantages
First, you’re building the equity of the property when you buy it. Second, you can count on some rental income, says Investopedia. It’s taxable but if you earn zero after all the expenses have been paid for, you could easily get a tax break.
Investment
It’s a good one, especially if you plan to rent it out. Since the location is ideal, it’s sure to get a steady stream of renters or tenants.
