Condo Vs House: What to Consider When Choosing Which to Buy
People who are considering purchasing a place to live have mаnу different орtіоnѕ to соnѕіdеr. Pre-existing homes, new homes, condominiums, townhomes, and unimproved property аll hаvе bеnеfіtѕ and drаwbасkѕ fоr potential buyers. When it comes to first-time homeowners, the two most popular tуреѕ of рrореrtу fоr рurсhаѕе are condominiums and free-standing free hold homes.
The location of a property is often the first consideration for people looking to purchase a home. When you buy a condo, you will not need to do any maintenance on the unit. Condos that are well-managed usually have special condo fees set aside for dealing with maintenance. That reduces the risk of special assessment that might require you to pay extra money. Condos are also found closer to the city center and therefore you will not spend too much money on transportation expenses. Also, the time it will take you to reach anywhere in the city will be drastically reduced.
Many condos are usually equipped with recreational equipment such as gyms аnd іndооr ѕwіmmіng pools thаt уоu can benefit frоm. They also have units that you can rent instead of selling in order to get passive income. Though houses have such units too, condos have access to many tenants especially if you are located close to higher education or employment centers.
Condos are not associated with Home Owners Associations that will be telling you about everything you need to do. For instance cutting grass, painting the doors and what color you need to use as well as fines for things such as forgetting to close your garage door.
Houses on the other hand will give you space to lounge about and play as well as a place that you can grow your own garden. You can have a nice private space to yourself that is very close to nature. When you own a house, you will not need to be right up against your neighbors. You will have the freedom to play your music at any volume, and you can own pets as well a swimming pool without having any disturbances from other people.
With a house, you have more room to grow since it offers you much more space than a condo. It also located in a much quiet location that is perfect if you like being close to nature and love peace. You will not be charged any condo fees or fees for unexpected assessments when you own a house. You will not also need to climb upstairs or wait for an elevator if you are in your own house.
So basically, the things you will need to consider when you have to choose between a condo and a house include the location, privacy, maintenance, budget and whether you would prefer to have total control over decisions that affect your home or you would like to share the decision making process with your neighbors.
Contributed by: Greg Clarke foremost real estate expert. If you are looking for a knowledgeable realtor call Greg with your Real Estate questions,Phone 250-869-9119