It is not tough to drive about a city location and discover buildings that house condos. Some are little and some are big, and some are new and some are old, but the bottom line exists is not a lack of them. However is the Clavon Clementi condo way of life just a passing trend? In a word, doubtful.
There are a variety of reasons why I do not believe that people making the choice to stay in condos is a passing craze. I will describe numerous of those reasons listed below:
The variety of Baby Boomers getting in retirement, or at the very least having their kids move out and ending up being empty nesters, is going nowhere however up. And what do a great deal of people do when they retire, or when their kids leave home? They scale down. Many individuals trade in their single-family house for something smaller sized. In many cases, that suggests a condo. Since they do not have to trim the yard or rake the leaves, or finish a variety of various other maintenance tasks, they have even more time to travel and do the other points retired individuals do.
A need to be close
Young specialists are one more team of individuals that appear to have an affinity for condominiums. Several young professionals operate in downtown setups, and having an condo in the immediate location suggests they can walk or take public transport to function. And, they delight in condos because of their distance to sporting events, bars, and restaurants. And unless there is something I am missing, there is no reason the number of young specialists will drop in coming years.
There is a growing pattern of people acquiring condos as 2nd houses. Commonly as not, these are retired people that reside in one place for part of the year, and another for one more part of the year. They may invest the winter in a warm area such as Florida or Arizona, as an example, and afterwards invest the summer season in their condo.
In numerous city locations, there has been a distinct rehab initiative. Housing belongs of this initiative, and because single-family houses do not fit well in midtown areas, programmers construct condo buildings (or turn old structures into condo buildings).
There is little doubt there is even more of an ecological awareness today than there has actually been in the past. That means people choose to live closer to work so they decrease the amount of gas they melt in their automobiles. While it is unlikely this element goes to the first for the majority of people when they purchase a condominium, it plays a part for many.