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

281 Properties
Page 1 of 24
3
Beds
2
Baths
1,406
Sq.Ft.
2022
Year Built
2
Days on Site
12203960
MLS
The highly anticipated arrival of the Sawmill Condos have arrived. Come see your new home in the beautiful Sawmill community. Featuring 9' ceilings with plenty of space in the open living area. Large...
$637,000
Neighborhood: Wasatch Front Ar 58
3
Beds
1F13/411/2
Baths
1,783
Sq.Ft.
2019
Year Built
2
Days on Site
12203961
MLS
Welcome to this amazing townhome with excellent opportunities for short and long term rentals, and perfect for any small family. It has been meticulously loved, maintained, and upgraded by owners to...
Open 9/28
6605 W 2200 Park City, UT 84098
$595,000
Neighborhood: Crestview Condos
2
Beds
3
Baths
1,458
Sq.Ft.
2001
Year Built
2
Days on Site
12203962
MLS
This 2 bed, 3 full bath condo offers a spacious, light filled living area, gas fireplace, oversized deck with great views of the Wasatch Mountains, large vaulted master bedroom and an open loft...
Open 9/28
7415 Brook Hollow Loop Rd Park City, UT 84098
$975,000
Neighborhood: Brook Hollow Village
3
Beds
2
Baths
1,750
Sq.Ft.
1996
Year Built
2
Days on Site
12203964
MLS
This light & bright home in Brook Hollow Village offers the best of both worlds - the privacy of single family home living with no shared walls, as well as the ease of condo living in a managed...
Open 9/28
1415 Lowell Ave Park City, UT 84060
$2,100,000
Neighborhood: Resort Center
4
Beds
2F11/2
Baths
1,463
Sq.Ft.
1985
Year Built
2
Days on Site
12203965
MLS
Rare 4 Bedroom ski-in / ski-out condo at Park City Mountain Resort - just steps from Park City's ski slopes, ice skating rink, summer trails, and free bus line to Main St. This 2-story, fully...
$2,000,000
Neighborhood: Payday
3
Beds
3
Baths
1,756
Sq.Ft.
1972
Year Built
2
Days on Site
12203967
MLS
This stunning & highly desired upper floor Payday townhome is ideally situated to provide an abundance of natural light while offering splendid mountain & golf course views. The property was fully...
$2,645,000
Neighborhood: Founders Place
2
Beds
2
Baths
1,414
Sq.Ft.
2024
Year Built
2
Days on Site
12203968
MLS
Welcome to Founders Place - One of Deer Valley's Final slopeside, ski-in, ski-out, luxury condominium communities nestled at the base of the Mountaineer Express Ski Lift. Located in the private,...
Open 10/1
4338 Willow Draw Dr Park City, UT 84098
$1,450,000
Neighborhood: Juniper Landing
2
Beds
2F11/2
Baths
1,606
Sq.Ft.
2008
Year Built
3
Days on Site
12203956
MLS
Elegant townhome with high quality finish materials throughout. Beautifully appointed and in better than new condition. Luxury Viking Appliances, hand scraped hardwood floors, en suite bathrooms,...
Open 9/28
2025 Canyons Resort Dr Park City, UT 84098
$795,000
Neighborhood: Red Pine
2
Beds
23/4
Baths
1,080
Sq.Ft.
1979
Year Built
3
Days on Site
12203959
MLS
Red Pine is the ultimate year-round resort experience!Excellent amenities plus biking, hiking and golf right out of your door or close by.This chalet is the ideal second home, primary residence or...
$335,000
Neighborhood: Wasatch Front Ar 58
2
Beds
1
Baths
915
Sq.Ft.
1989
Year Built
5
Days on Site
12203943
MLS
Modern, spacious two-bedroom condominium fully renovated within the last two years. Located in the heart of the Salt Lake Valley within minutes of local schools and freeway access. Surrounded by...
$789,000
Neighborhood: Fox Bay
2
Beds
1F13/4
Baths
1,028
Sq.Ft.
2002
Year Built
5
Days on Site
12203944
MLS
Amazing views of Jordanelle Reservoir and the mountains from this top floor unit; vaulted ceilings in the living room/kitchen; open living space; located across from the new Mayflower Mountain Resort...
$395,000
Neighborhood: Silverado Lodge
13/4
Baths
321
Sq.Ft.
2007
Year Built
6
Days on Site
12203932
MLS
Fully furnished and turnkey high end studio on the 4th floor of Main Building. Great investment for nightly rental income or week-end get-a-way just steps from skiing, golf course and all the...

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