In Some Cases, Condos Are Just As Expensive As Other Single Family Homes

Category: Finance, Real Estate.

One of the hottest real estate markets in the last couple of years has been condominiums.

Of course, the market for single family homes is also strong, but the condo market has become a great alternative to a traditional single family home. More than a million condominiums are sold in a single year. Condos are an affordable alternative for many buyers that are having a difficult time investing in a single family home. There are a number of buyers that are looking for luxury condos. But not all condo purchases are made as an entry level sale. Condo prices have kept pace with housing appreciation levels of other traditional homes. So clearly it isn t merely a matter of affordable pricing that is making condos attractive to buyers.

In some cases, condos are just as expensive as other single family homes. It s the convenience of a low maintenance home combined with great location. Instead, this very mobile and active generation is choosing homes that better accommodate their busy lifestyle, which often translates into the condo market. The American Demographics estimates that home owners aged 55 to 74 will increase by 36 percent through 201This aging population is making different decisions about what type of housing is most appropriate for them, and many are rejecting the premise of staying in the family home during retirement. These buyers are finding lots of opportunity in the Phoenix real estate market. These homes are decidedly upscale and are certainly as comfortable as most single family homes.

The condos that are for sale in Phoenix aren t merely the average" boxy" condo found in many markets. A standard luxury condo in Phoenix will have: At least 2, 500 square feet. Two or three car garage. Three or more bedrooms with a minimum of two and a half bathrooms. Interior design details that can be modified to fit the buyer s interest. High- speed data access, modular wiring, multiple phone lines.

Security systems. Use of steel, and recycled products, concrete. Owning a luxury condominium gives home owners a chance to live in comfort and ease, and there s certainly no better market than the Phoenix home market to find these beautiful condos. Natural stones and hardwoods, designer ceramic and clay tiles. Phoenix is truly an innovative community when it comes to condominium development. Whatever your taste, there is a luxury condo for you in Phoenix. You ll find homes that are perched on golf courses, have spectacular mountain views, or are in the heart of the metropolitan city.