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If You Love the Condo You’ve Been Renting, Should You Buy It?

So, you’ve spent some time at Aderra, enjoying the sunny Phoenix weather, the convenient location, and the relaxing lifestyle. Every time you go out of town, you look forward to coming back.

If you’ve been renting an incredible condo for a while, you may be wondering whether it’s time to go ahead and buy it.

There are a number of advantages to owning a condo instead of continuing to rent, but is it the right move for you now? Here are a few signs that you’re ready to stop renting and buy your condo.

Sign #1: You Already Spend a Significant Amount of Time There

Perhaps you started renting your condo as a winter getaway, but now you’re finding that you rarely want to leave the beauty of Phoenix.

If you’re already spending more than four months per year in your rented condo, ownership is a much more convenient arrangement. It may seem like a subtle change, but it makes a difference to feel like you’re at home instead of a visitor at a vacation property. You already know you enjoy the amenities and the atmosphere at Aderra, so it makes sense to take the next step.  

And if you are considering permanently relocating to the area, owning your home here will make the transition that much easier.

Sign #2: You Want More Control Over Your Space

Owning your condo gives you more control over your surroundings; the place will truly be yours and there’s a lot of convenience that comes with that. Click To Tweet

Owning your condo gives you more control over your surroundings; the place will truly be yours and there’s a lot of convenience that comes with that.

Instead of tiptoeing around your rental property and trying to gauge what you can and can’t do, when you own your condo, you can furnish and decorate your home the way you like it — and change the interior look whenever and however you wish. This means you can relax better in your own space and feel comfortable welcoming guests to your condo, instead of feeling like a guest there yourself.

What’s more, if you own the condo as a winter home, you can store your things there all year round, so they don’t take up space in your primary home. This will allow you to invest in larger items, such as recreational equipment you know you’ll enjoy in the warm Phoenix winters, but are otherwise too inconvenient to store and transport.

Sign #3: You Have Enough Money Saved Up

If you’re thinking of buying your condo as a second home, the upfront costs can add up quickly. Once you have enough money saved to cover the down payment, insurance, and associated fees, you’re safely ready to make the condo your own. Aderra’s friendly and knowledgeable staff is always available to explore your financing options with you, and help guide you through the process of purchasing your condo.

As well as considering the costs of the down payment and fees, you need to think about how much debt you have. Generally, if you have a debt ratio of 36-42%, you’re in a safe position to move forward with your purchase. If you have significantly more debt than that, you may want to speak to a financial advisor to determine whether you feel financially stable enough to finance a condo.

Although the financial side of buying your condo may seem like the scariest part, if you have the money to cover the upfront costs, you stand to make even more gains than simply owning the home you love.

Sign #4: You Want to Make an Investment

Buying a home has long been considered a great investment and nowhere is that truer than in the Phoenix area.

Buying a home has long been considered a great investment and nowhere is that truer than in the Phoenix area. Click To Tweet

While Arizona has a strong economic climate as a state, Phoenix is set to experience real growth, especially where apartment and condo complexes are concerned. With state-of-the-art amenities and opulent living spaces, an Aderra condo will always be a highly-prized home — to you while you live there, and in the eyes of potential home buyers if you ever choose to sell.

With the current market in Phoenix at a stable point, it’s the perfect time to take the plunge and buy the Aderra condo you know and love.Contact the team at Aderra to take the next step to owning your luxury condo — and all the freedom and comfort that comes with it.

2018-02-19T20:45:52+00:00 February 8th, 2018|Blog|
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