Most Popular Real Estate Options in Arizona
Buying a home is a considerable decision you will have to make if you dream about having a place of your own. There are various home options, ranging from condos, single-family homes, patio homes, and townhomes to luxury homes.
They are all good and suitable for all clients depending on their taste and preferences. Real estate agents are there to help you buy the perfect home you need and that is why this article explores some of the popular options of real estate in Arizona together with their pros and cons so that you can make informed decisions.
Condos
If you want to be a homeowner in the State of Arizona, then a condominium is one of the options for you to consider. Condos are prevalent in Arizona, either as primary or vacation residences for different people with different needs. Condos are treated as real property by the Arizona Condominium Act.
Owning a condo allows you to own your unit and enjoy all the amenities that come along with it which would have otherwise been out of reach, like the Sauna or pool. You, however, get to share common areas such as the garage, pool, sports courts etc.
Condominiums may also have rules or restrictions set for owners, such as on pets, guests, vehicles etc. You may not have a say in when repairs and maintenance are done, and you get to pay your own property taxes on your unit, which may be costly for the owner.
You can be able to pay all of the money at once since they are not that expensive or just mortgage it. In a condo, you live with the assurance that neighbors are close by and security features are up to date and well enhanced. Sometimes, however, condos offer less space, less privacy, and more noise.
If you are looking to start from scratch in being a homeowner in Arizona, then a condo would be the most appropriate for you as you seek to grow to better options in the future.
Single-family homes
Single-family homes have gained interest among home buyers in Arizona and are very popular. They are found on their piece of land and are not connected to other residential kinds of structures. It is a single home that houses one family comfortably.
Single-family homes offer privacy to you and your family because there are no shared amenities. Single-family homes are mostly on demand and that’s why they have lower vacancy rates.
They have a fast appreciation rate, which means you can sell your house at a higher rate than condominiums that depreciate. They are spacious for your family, offer room for expansion when needed, and are likely to have garage and basement spaces.
They have fewer maintenance costs. However, they may have some limitations, like they are pretty expensive when purchasing as opposed to other kinds of properties like multifamily homes and condos.
Patio Homes
If you are a first-time home buyer and are looking for a good start, then patio homes are the deal for you. They are popular in Arizona, and many people have cozied the idea of being in patio homes. They are affordable and have low- maintenance costs, making them suitable to meet clients’ various needs.
They are usually smaller, but they have a yard or lot. They may share the outdoor spaces such as the lot, which can be reserved for private events. Patio homes offer a range of facilities like social clubs, swimming pools, green areas, fitness centers or bike paths, making them a suitable option for interested clients.
There is a communal spirit in patio homes with many opportunities to know and bond with your neighbors. However, they have a few limitations, such as the fact that they lack privacy, have small outdoor spaces, contain homeowner’s association requirements, and have insurance concerns. Real estate agents are there to help you get to your home comfortably.
Townhomes
Townhomes are part of the most popular real estate options in Arizona. Homebuyers are out to get these homes with the help of real estate agents. If you are looking forward to earning your own place, then this is an option you should be looking at. Townhomes are smaller and have shared walls.
They are less expensive, which makes them quite affordable for home buyers. They have a variety of amenities for their client’s satisfaction, such as a clubhouse, ample outdoor space, a shopping center, transportation, and a swimming pool.
Maintenance costs are lower, but there is less privacy and more restrictions imposed by the actions of the homeowners. Townhomes are more suitable for first-time homeowners as they learn what homeownership involves.
Homes with a Pool
Ownership of homes with pools has become a common trend in the real estate market of Arizona. Although they are pretty expensive, many people still prefer them. You can get your home by working with the real estate agents in Arizona efficiently.
They offer social benefits to the clients who prefer to invite their friends over for the same. A pool is also considered good for physical and mental health because they can be able to swim at any time. Swimming is said to be double the gym workout, so some people, especially swimmers, will prefer that.
Some will prefer the private pool for the aesthetics of their home. The Arizona provides something that complements the appearance of your home. However, Arizona homes for sale with pool have some drawbacks, such as high maintenance costs, additional insurance costs, and security risks when intruders sneak in to swim. When you finally want to sell your home, they may not offer a good financial deal.
Homes with No HOA
Homes without the Homeowners Association are quite popular in Arizona. Your real estate agent can help to break down this information for you and help you get the best option when it comes to buying and owning a home.
By owning a home without HOA then you get to enjoy your freedom without the need to adhere to the strict rules set by HOA. They are relatively cheaper with low maintenance costs because you have access to only the services that you require.
You, however, have to pay your taxes, mortgage, and insurance by yourself which might be a bit costly. In case of any repair, you may have to handle it yourself.
Luxury Homes
Luxury homes are really expensive when compared to other homes like the single family homes and patio homes. These houses are bigger and are equipped with all the necessary facilities you can think of.
They even have unique things like mother-in-law suites, large garages, and elevators. Luxury homes have a high resale value when you finally decide to sell the house. With a well-known agent, you can be able to get better deals in the market in regard to purchasing your luxury home.
The limitations of owning a luxury home is that they have high maintenance costs and the homeowner’s insurance is really costly.
Conclusion
With the help of real estate agents, you can make a decision on which type of home is the best either just for you or for you and your family. The above-discussed home options are available. They are also the most common ones in Arizona, so there is something for everyone.
