How Buying a Luxury Condo is More Affordable than Renting

Renting your home may seem more convenient, but when you drill down to the costs of apartment rent each month and the benefits gained from owning your home, the truth is that you actually save a lot of money by owning a luxury condo.  Living in a condo offers many financial incentives that put money back in your pocket – not your landlord’s.

To demonstrate the great savings of a condo home at 17 Chapel, we analyzed the cost breakdown of condo ownership compared with luxury apartment rentals in the Albany area.

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Click to download this as a PDF file which includes important disclosures and assumptions used above. As the chart shows, the real cost of owning a 1,455 s.f. Mohawk floor plan at 17 Chapel is only $1,364 per month. This compares very favorably with high-end rentals in the area that start at $1,395, especially considering the size, features, amenities and location of our condos. Also, by paying these amounts over 10 years, you will build $55,365 in equity.  This is something you can take with you, should you decide to sell your condo.

There is another major benefit to being a home owner.  Because it’s yours, we will completely customize it the way you want it!  Each resident at 17 Chapel gets a complimentary appointment with our interior designer, Valerie DeLaCruz.

Both luxury apartments and condos offer deluxe accommodations and amenities, but only a condo like 17 Chapel Boutique Condominiums provides value that grows.