
If we talk about the big investments, one thing that people
spend their whole life's hard-earned money is real estate. No matter whether
you are extremely rich or a common man saving every penny to buy a home for his
family, you can't afford to make an impulsive decision and turn your moment of
joy into remorse by settling down for something you never wanted. The list of
the options that any average home seeker can look for in the real estate market
includes:
Condominiums
Condominiums are the individual flats located in a
multi-story building. The condominium building generally has its own recreation
centers, parks, shopping hubs and is governed by an association that determines
the monthly fee and takes care of the maintenance and improvement of the building.
The major drawback of living in a condominium is the lack of privacy and
increased depreciation during a housing- market downturn.
Foreclosure Property
Foreclosure properties are known to be an inexpensive
alternative for the people looking for a previously owned home that require
minor repairs and modifications. A foreclosure property is also known as Real
Estate Owned property and is often owned by the lender as the previous owner
defaulted on paying back loan. Foreclosure properties are usually up to 65%
below the market and are considered to be best deals on the market.