There are many advantages to owning a condo in Belmont Shore. To name just a few:
- You build equity. Each monthly payment means you own just a little bit more and the bank a little less.
- You have pride of ownership. There’s something to be said for owning where you live. You take better care of your place, and you just feel a little bit better and walk with your head a little higher.
- You can decorate and remodel without checking with your landlord first. Paint the walls purple and turquoise if you like. No one can tell you, “No.”
These are all benefits, but there are drawbacks to buying a condo in Belmont Shore that many people fail to consider before jumping right in.
- That condo is yours. You can’t just walk away or let your lease run out. If you plan to move on, you either have to sell your condo or lease it out – taking on all the responsibilities and liabilities of being a landlord.
- Monthly association fees are now part of your monthly bills. These fees can be quite large in some instances. Yes, they go towards maintaining the common areas and offset some of your bills, but they are still an extra expense.
- You are in charge of all maintenance. If the plumbing clogs up, you are responsible for calling the plumber and paying him for his services. There’s no calling the landlord to come fix it.
Perhaps the biggest drawback is the one mentioned first. Buying a property in Belmont Shore is a multi-year commitment. You can’t just pack up and leave without a heavy financial penalty. Now, I’m not trying to scare you away or convince you not to invest in a condo. I’m just trying to give you both sides of the equation.
In most cases, I suggest my clients take a “try before you buy” approach. There are many lovely apartments for rent throughout Belmont Shore – in some cases they are also for sale a condo units. By renting first, you allow yourself to get a feel for the community, experience what it’s like to run down to 2nd Street for a late dinner and just walk the neighborhoods. This knowledge will be invaluable when it comes time to move out of a Belmont Shore apartment and invest in a Belmont Shore condo.
So, there’s no rush; however, if you would like to know more about the process of buying a Belmont Shore condo or leasing an apartment, I would be happy to help. Just contact me through this site or give me a call directly. I can’t wait to hear from you.