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Is a Condo in Norfolk a Good Investment? The slumping housing market in Norfolk has many people wondering if size really matters.Â Many Norfolk home-owners are trading in their two stories, multi-bedroom homes for smaller Norfolk condominiums.Â The question is whether or not owning a Norfolk condominium is a good investment.Â A condominium in Norfolk can be a great investment if the owner wants convenience, space, and security in re-sale value. Norfolk condominiums are attractive to single home buyers, retirees and first time buyers.Â The convenience of owning a property as opposed to renting makes buyers feel secure in their investment.Â The size is also a pull because of the desire for a larger living space as opposed to an apartment.Â Apartments are generally smaller and at an overall more expensive renting cost.Â Condominiums in Norfolk, such as Tanners Landing, offer amenities like boat slips, security, and maintenance to encourage new ownership.Â Most Norfolk condominiums are conveniently located to hot spots, such as downtown Norfolk, Historic Ghent, or the Ocean View beaches. Norfolk condominiums have held their value as an investment despite economic hardships. Â In fact, Norfolk condominiums have held their value more in the last few years than when they first came into play in the housing market.Â There are several first time homeowners buying condos because of the declining housing market, making purchasing a full sized home an intimidating idea. Don't let owning a Norfolk condominium pass you by.Â The demand is high for newer condominiums, and units are selling fast.Â Consider a Norfolk condominium for your next home investment search.Â Sarah Reece writes for Ciniva Systems, an award winning Virginia web design company. Ciniva specializes in web design and SEO. Sarah Reece is an SEO Specialist with Ciniva. Ciniva Systems is in charge of SEO for Tanners Landing.
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