PALISADES PARK, N.J. – Homebuyers deciding between upscale, maintenance-free multi-family living and a single-family home have a new incentive to move forward with the purchase of a stress-less residence at Trio, the luxury high-rise condominium in Bergen County’s Palisades Park.
Special limited-time promotions available at the two nine-story buildings provide $30,000 off the price of a two-bedroom condominium home and $50,000 off the price of a spectacular Penthouse residence.
The great savings are another reason why buyers ranging from empty-nesters looking to scale down from larger homes and young families first entering the housing game are ending the debate between single-family and condominium residences by opting for a full-service lifestyle at Trio.
Many of the advantages of condominiums are already well known, predominantly the ease and convenience of a maintenance-free environment, which eliminates tiresome chores such as trash and snow removal, exterior maintenance and more. There’s also opportunity to reside in a fully-amenitized building with concierge service and five-star onsite recreational and social amenities.
Beyond lifestyle considerations for those choosing between single-family homes and condominiums are finance and value. The “hidden” costs for the maintenance and upkeep of a single-family residence can quickly add up. These additional financial responsibilities often tip the balance in favor of condominiums.
“Our purchasers have researched single-family homes only to discover they are often more expensive to purchase and maintain,” says Brandon Ochs, Sales Representative for The Marketing Directors, exclusive sales and marketing agent for Trio.
“For example, single-family homeowners assume all of the burden for landscaping, updating and fixing any issues that may arise. These out-of-pocket expenses are avoided with condominium ownership where the majority of the repairs, improvements and maintenance of the exterior, grounds and building systems are covered by the homeowner association. Multi-family buildings also offer significant savings on utility bills with a percentage of water and sewer costs shared by homeowners and lower energy costs due to modern appliances and building technology.”
In markets such as Bergen and Hudson Counties, existing single-family residences priced comparably to brand new condominiums often times require improvements and renovations — adding a considerable amount of extra money to the investment. Continue reading