If you’re in the market to purchase property in the Cayman Islands, you may want to consider a condo. The condominium market is thriving with both affordable and luxury condos in the Cayman Islands, including beachfront properties and resort-style living options. But condos are not for everyone. Here is a look at the pros and cons of owning a condo in the Cayman Islands over a traditional home.
Condos are much easier to maintain than traditional homes, especially for individuals who lead busy lifestyles. Owning a condo can provide a comfortable lifestyle free of yard work and other home-maintenance responsibilities. Another benefit of owning a condo is that you can live right in the center of the city. Many Cayman Islands condos are located within close walking distance of grocery stores, restaurants, and shops. Living in the heart of the city means you don’t have to hop in the car every time you need to run an errand.
However, owning a condo in the Cayman Islands also has a few cons. While you may not have to mow your own lawn, the typical Cayman Islands condo comes with monthly maintenance fees. These fees go toward the upkeep and development of the property. Condo owners also have to get used to shared decision-making. The condo board decides how the condo fees are spent, which means you may not have the freedom to renovate your condo if the rest of the board does not agree with your idea. To learn more about Cayman luxury property, condos or homes, please contact a RE/MAX Cayman Islands Sales Associate today.