There are many condominiums springing up in downtown and urban areas. Couple with a recent housing crisis some people are wondering if buying a condo is a good idea. Here are 5 reasons that it is.

1. A condo is still an investment. If you are not quite ready for or can’t afford, a whole house, buying a condo is like taking a baby step. It will be more affordable and you won’t be throwing your money away on rent.
2. Owning a condo is easier than owning a home. If the idea of mowing the grass or repainting a house causes you to shudder, buying a condo might be the best choice for you.
3. Condos usually have amenities. Since condos have many people contributing to a shared fund, it’s possible to have more luxuries than you could afford on your own, for example a pool or gym may be part of your condo’s complex.
4. You can get more space for your buck. A house and a condo that are the same size can be much different prices. If you aren’t concerned with having a big yard, this option could work out well for you.
5. Condos are social places. If you are new to a city and want to meet people, it’s much easier to do so in a condo because it’s already a mini community.

However, keep in mind there are some things to watch for when buying a condo. Find out how much your homeowner association dues are and what’s covered in them. Also ask if any of the other owners are delinquent in their dues and how much the dues have increased over time. Also look into any pending litigation against the complex and how the complex deals with repairs and complaints. And you can always find any other issues in the minutes of recent homeowner association meetings.