Are Condos a Good Real Estate Investment?

There are several different types of homes available for purchase in the real estate market. When weighing your options if you’re considering the purchase of a condo you could ask yourself if it is a really good use of your money.

When it comes to analyzing investing in the real estate market a condo has been proven to be a great option for a real estate investor that is looking for minimal upkeep and demand on the property when compared to a single-family home. But while a condo may be less demanding on the landlord side of things for an investor a single-family home might have a better payoff in some markets.

The pros and cons of condos as a real estate investment

Pros

One of the largest benefits of investing in a condo property is that it tends to come with a lower price tag than a single-family home. Another big asset to investing in a condo is there of course are fewer demands on keeping the property in top condition.

A  nice bonus to less upkeep is that condos come with an owners association that handles all of the exterior maintenance of the property. Yes, there is a fee in the form of association dues but this is a cost that you can factor in when purchasing the property. It gives you a better hands-off approach.

One more upside to investing in a condo property is there are often shared amenities such as workout rooms, recreational areas, courtyards,  parks, a community pool, ski-in and ski-out options, and maybe even items like 24-hour concierge or a restaurant depending upon the individual condo community. These can be great incentives to draw in and keep a renter on the property.Are Condos a Good Real Estate Investment

Cons

There are some great benefits to investing in a condo property and renting it out, but there are some things that could be considered as setbacks to make sure you are knowledgeable about before purchasing a specific condo property.

Though the homeowner association can be a big asset when it comes to exterior maintenance, you may run into complications in dealing with board members or you could run into complications with the price of association dues especially if they increase.

If you are hoping to turn the condo into a short-term rental vacation type of property you want to make sure that the particular condo community you plan to invest in allows for these things. Some condos in particular locations have a minimum rental time frame. For some condo buildings, this can be two weeks or it could be 12 months.

Would it be wise to purchase a condo as an investment property in 2022?

As interest rates are remaining very low purchasing investment property could be a promising idea and great use of making your money work for you. Just make sure that before you purchase any investment property you study the local real estate market thoroughly.

This can be done with the help of a local real estate expert that is well-versed in the particular area in which you plan to purchase an investment property. You want to make sure that you weigh all of the pluses and minuses and how they could personally affect your particular investment situation.

In some specific areas, the rental market could be more promising where single-family homes are concerned. There could be more people in a particular geographical region that are looking to rent out a standalone home as opposed to a condo.

For more information on purchasing a condo in Park City and surrounding areas including both single-family properties and condo properties for personal use and investment, please contact us anytime.

 Search all Condos and Townhouses in Park City

285 Properties
Page 1 of 24
$1,550,000
Neighborhood: Shoreline
3
Beds
3F11/2
Baths
3,030
Sq.Ft.
2023
Year Built
2
Days on Site
12300269
MLS
All Pre sheetrock options included.Buyer can still select all the Finish options.Call and set up a time to come in or just stop by we would love to show you how great Shoreline is.All photos are of...
$1,325,000
Neighborhood: Blackstone Flats
2
Beds
1F13/4
Baths
1,160
Sq.Ft.
2019
Year Built
3
Days on Site
12300248
MLS
This modern ground-level unit is perfect for a year-round residence or seasonal ski getaway. It offers an expansive living space with tall ceilings and large windows which allow for tons of natural...
$1,525,000
Neighborhood: Blackstone Flats
2
Beds
1F13/411/2
Baths
1,160
Sq.Ft.
2019
Year Built
3
Days on Site
12300249
MLS
This contemporary ski condo is located on the top-floor of Blackstone Flats. It is offered turnkey and features an open floor plan with spacious living area, high ceilings, expansive windows allowing...
$4,500,000
Neighborhood: Resort Center
4
Beds
4
Baths
2,713
Sq.Ft.
1985
Year Built
3
Days on Site
12300231
MLS
This is a unique opportunity to own the incredibly rare 4 bedroom ski in/out presidential suite at Park City Resort. The unit features amazing ski run views, two primary suites, 4 full bathrooms, 4...
$1,695,900
Neighborhood: Shoreline
3
Beds
2F13/411/2
Baths
3,161
Sq.Ft.
2022
Year Built
3
Days on Site
12203723
MLS
Dont wait!. Start enjoying your amazing Shoreline home now.The home is fully finished with every bell and whistle imaginable. Dont take my word for it stop in to see for yourself.
$764,000
Neighborhood: Red Pine
2
Beds
2
Baths
1,080
Sq.Ft.
1979
Year Built
3
Days on Site
12300261
MLS
Excellent opportunity to own this remodeled Red Pine condo at the base of Canyons Village at Park City Mountain. This fully furnished condo has plenty of room for all and sleeps up to 10 with 2...
$408,000
Neighborhood: Yotelpad Condominiums
13/4
Baths
338
Sq.Ft.
2020
Year Built
3
Days on Site
12300262
MLS
This Amazing Studio TOP FLOOR with ski mountain views where you can feel the energy of the Ski Mountain. This condo sleep 4 people comfortably.The YOTELPAD is conveniently located in the heart of...
$7,495,000
Neighborhood: Elevation At Canyons Village
5
Beds
5F21/2
Baths
4,923
Sq.Ft.
2024
Year Built
3
Days on Site
12300263
MLS
Elevation at Canyons Village is (6) townhomes with direct ski access to Canyons Village at Park City. Owners and their guests will enjoy full access to Hyatt Centric amenities, shuttle and...
$2,500,000
Neighborhood: Ridgepoint
3
Beds
1F13/4
Baths
1,632
Sq.Ft.
1985
Year Built
3
Days on Site
12300265
MLS
This beautifully renovated 3-bedroom villa is located in the Ridgepoint development at the top of Deer Valley Resort. Enjoy the majestic mountain and ski run views from this quiet and tranquil...
$599,950
Neighborhood: Brookside (Heber)
3
Beds
3F11/2
Baths
1,954
Sq.Ft.
2023
Year Built
3
Days on Site
12300267
MLS
Duplex Building. Construction to start in March 2023. Professionally designed home! Finished Basement! Great views of Mount Timp. HOA fee covers snow removal of alleyways and maintenance of common...
$4,500,000
Neighborhood: Flagstaff
3
Beds
2F13/411/2
Baths
1,950
Sq.Ft.
2009
Year Built
4
Days on Site
12300235
MLS
This incredible top floor residence in the Flagstaff building in Empire Canyon has commanding views of the skiers making their way to the Silver Strike lift and Deer Valley's Bald Mountain. It...
$575,000
Neighborhood: Wasatch Front Ar 58
2
Beds
2
Baths
1,116
Sq.Ft.
1964
Year Built
4
Days on Site
12300236
MLS
Experience Park Avenue-style glamour in the heart of Salt Lake City at the Bonneville Tower. This classic Mid-Century modern condo is located on South Temple in the heart of the lower Avenues section...

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