Pros and Cons of Buying a Condo when Moving to Lanai

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The opportunity to settle in at a tropical port of call and slowly turn it from adulthood fantasy to reality is one that many people are never blessed with. They spend the entirety of their lives buried under their smog and their snow, never knowing the simple joys of stepping off of their back porch to hear the birds dancing in the palm trees and looking out over the Pacific to see the dolphins playing in the early morning sun. The fact that you are reading this indicates that you have been given this opportunity, and are planning to make the tropical sands of Lanai your new home.

The next question you are going to have to face is, "Where are you going to live?" This doubtless is a question you have asked yourself multiple times, yet the fact that you are here indicates that you are no closer to an answer than you were when the question first arose. You have a number of options for living quarters when moving to Lanai; you could purchase or rent a house, you could rent an apartment, you could opt to stay in a hotel until you have found the precise living arrangement that suits you (this can be an expensive proposition, so think this one through carefully before signing on the dotted line). The fact that you are here means that you are strongly considering the purchase of a condo, or a condominium, to become your island home.

Condominiums have a number of advantages over other living facilities. As they are considered to be part of the larger whole you will have assistance in paying for their upkeep, and neighbors close by to lend a helping hand should you need one and keep an eye on your property when you are away. Most condominium neighborhoods have a number of amenities available to their residents, such as a swimming pool and/or a tennis court, and the condos themselves are usually in nice, upper class, (fairly) crime free neighborhoods. A condo is the kind of place that you could move to without a great deal of risk.

On the other hand, owning a condo has its down side as well. Being considered part owner of the building means that people will be knocking on your door when money needs to be rounded up and repairs need to be made. You will have neighbors close enough to intrude upon your privacy any time that they feel like it, and as only the area inside your own walls is your own you may quickly grow tired of having other people in what you would think of in a detached home as your "personal space". In addition, when you are ready to move again a condo will be much harder to sell, and it is almost inevitable that the condo will be sold for considerably less than was paid for it in the first place.

Obviously the pros and cons between buying a condo are your own to weigh, and you must consider all of the evidence carefully. Do not rush into the decision; although this may seem like a spur of the moment thing it is essential to remember that a condo comes with a full set of responsibilities, equally as many as if they were attached to a full size house as well.