November 12th, 2009:

Recent studies suggest that single women currently make up approximately 47 percent of the condominium buying market in the United States. The reason is pretty obvious, if you think about it. Condominiums are an increasingly popularly housing choice for single women because of the various benefits that condos offer including convenience, security, and often virtually maintenance-free living.    

For starters, security matters. For single women living alone in large, urban areas, one of the many benefits of living in a condominium are 24-hour concierge and security desks, video and security cameras in hallways and stairwells, and gated or enclosed parking areas. So if you’re thinking about buying a condo, carefully consider first the kinds of security features and amenities that are available in the unit; very often peace of mind is worth its weight in condo fees. Additionally, it’s important to know your potential new neighborhood. Condominiums tend to be located in urban areas where there are other young, working professionals as well as families. Make sure you know your neighborhood inside and out before you make an offer on a condominium and check the local county website for crime rates, local community news, and other annual statistics and reports.

Next, convenience is the key. Another factor that is crucially important when considering buying a condo if you are living as a single professional woman. In many condominium communities and developments there are office personnel to receive packages as well as other day-to-day business services such as dry cleaning, tailoring, and spa and fitness facilities. Some of the larger condominium developments also feature even more advanced amenities such as a grocers, bank branches and ATM’s, and many other services that make a single working woman’s life just a little easier.

Finally, consider maintenance in relation to time and money. Many single family homes require lengthy, time consuming and ongoing maintenance such as painting every three to five years, worrying about pipes freezing during the winter or getting the rain gutters cleaned. While it’s true that you as a condo owner must be financially responsible for the upkeep and maintenance of your condo’s common area, typically condo associations oversee the day-to-day management of the property itself. What does this mean for the busy single woman? Well, if the doors stick and the roof springs a leak, you can bet that your sassy self won’t be called upon to find someone to fix it. But be sure to check your condo buildings’ rules and regulations first. Most condo associations have a list of rules and regulations that you will have to agree to before you purchase a unit in the building. These rules may limit the number and weight of pets; how many visitors you can have at a time including how often and for how long; if you can rent out your unit; and when you can have work done in your unit. Ask the listing broker for the complete set of building rules and regulations.

Before you make an offer on a condo you want to be sure to consider what matters to you most as a busy single woman and those major concerns include safety and security, convenience and location, and matters of maintenance compared to other home ownerships costs. Happy Hunting Miss Independent!