Why Carefree Living Might Be the Best Move You Can Make
What do I mean by carefree living exactly? I’m talking about all the joys of homeownership with less of the hard work, time and maintenance that goes with it. Carefree living comes in a few various shapes and sizes and what I mean by that is, depending on the structure of the subdivision or management entity a carefree property may be an apartment-like condo, double-dwelling duplex or row townhome. The one thing all carefree living homes have in common is what is called a monthly Homeowner’s Association (HOA) fee. This fee is compensation for all the maintenance and differs in cost depending on things like location or list of amenities and services.
Let’s break this down a little further.
Condominiums can often look and feel like an apartment, but a true condo means that you own the air space and interior walls, and all common area ground is shared equally by all the other owners in that regime. The exterior, including the roof is insured by the Homeowner’s Association, while the interior is insured by you the homeowner. Much like covenants in a subdivision, condos have what are called Bylaws that contain the rules all condo owners must follow. Condos are run and managed by a board elected by owners and they have periodic meetings to address certain issues within that condo community.
Condos are beloved by those who have retired so they can acquire equity but don’t have to worry about home maintenance, those who are gone for work frequently or vacation often, and those who are easing their way into home ownership slowly. Since you don’t solely own the land in which condos sit, they are often a more affordable option than buying a single-family home on a plot of land.
Duplex VS Townhome
The most notable difference between a duplex and a townhome is that a duplex is a multi-family type structure in which they share one wall, where townhomes often share two walls as they are built in groupings, or rows so most have a neighbor on each side. A duplex is a single structure housing two families, where a townhome is a single structure housing multiple families side-by-side or in groups. In both, you own the land in which the property sits and are responsible for insuring the interior, exterior and roof, and you still pay HOA dues each month to take care of lawn mowing, snow scooping, etc.
The differences between these structures are so particular and almost hair splitting that the terms are often used interchangeably. Moral of the story is that carefree living offers an adaptable kind of home ownership that frees up time and worry from maintenance, which is nice.
Is carefree living the right choice for you?
If so, see below for two ideal examples of carefree living right here in Omaha that can be yours.