Condos Make Great Investments

Real estate investment opportunities vary widely as do the different classifications of property within the definition of real estate. One can invest in real estate in the form of residential, commercial, industrial, and rural just to name a few. Within the classification of residential real estate are the individual single family residences which are comprised of homes as well as condominiums or town-homes, and multifamily dwellings or apartments. Much of the general public would consider the investment into condominiums as a less desirable choice over the purchase of a single family detached home. A common belief has been that the homes will appreciate at a much higher rate than the condominiums. Time and changing demographics have proven this to no longer hold true. Condominiums have proven to be almost as profitable in the last five years as compared to investments in single family detached homes. The rate of appreciation of condominiums and single family detached homes over the last five years have been similar in the communities of Diamond Bar, Walnut, and Rowland Heights, with both exceeding 20% annually. Besides maintaining a strong rate of appreciation, the fact that exterior maintenance of condominiums is typically handled by the homeowners association adds another factor supporting desirability of this type of investment. This provides for an easier mode of managing the investment, making it attractive to busy investors.

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