City living is an exciting opportunity, especially here in Philadelphia, but it does present a new angle to the buying versus renting debate. With the scarcity of single-family homes, some city-bound residents think their only option is renting an apartment. However, another alternative exists: investing in Philadelphia condos for sale.
Rental properties abound in Center City Philadelphia but have the significant downside of leaving residents with nothing to show for all of the money they spent during their lease. Residents frustrated with that prospect may consider buying property, but the options are limited right in the heart of the city, where skyscrapers and multi-family properties dominate. Center City condos for sale, instead, offer the best of both worlds.
A popular option for urban living, condos can give residents the ability to enjoy all that the city offers with the added financial benefit of property investment. Many Philadelphia residents spend significant amounts of their monthly paycheck on rent to be able to have the comfort and convenience of living right in the middle of the bustling metropolis. Once the lease is up, however, they may have made good memories but will have invested thousands into a property they have to walk away from with no return on that investment. Center City condos for sale, however, allow locals to take advantage of city living and actually have their expenses amount to something—home ownership.
Investing in a future in the City of Brotherly Love at this time in the city’s history is another factor in considering Philadelphia condos for sale. The city is enjoying unprecedented success, as new businesses bring technology, innovation and promise to Philadelphia. With jobs and residents flocking to the city, nightlife, entertainment and shopping are flourishing. While the boom makes living in Philadelphia an exciting opportunity, the growth will also mean apartment rentals will continue to rise.
Investing in a condo in Center City Philadelphia lets residents take advantage of the benefits of city living while also making smart decisions about their financial future.