There are many decisions to make when buying your own home. One of the most important decisions to make is the type of home you would like to live in. The choices are usually between the two basic types of residential real estate purchases: the condo and the house.
Each of these two choices has its own set of pros and cons and it’s good to weigh your options before making a decision. Depending on your situation, you may find that a home or a condo is ideal for you. Read on to find the pros and cons of these two options to make the right decision:
Houses usually have more space than condos. The fact that condos are smaller than houses is not a bad thing as some people prefer to live in a smaller space as there is less space to accumulate clutter and less space to clean.
A bigger space, on the other hand, enables a person to store more stuff and it can also accommodate a large family. Obviously, you cannot cram your large family into a condo.
Home buyers, especially older buyers, prefer condos because they will not have to keep a yard or do any kind of landscaping. When you live in a condo, you will pay fees and have the grounds you share with other owners maintained by your association. There is no mowing the yard or shovelling snow for condo owners.
With a house, you have a lot of external maintenance to do including weeding flower beds, mowing grass and keeping plants alive. Even though a yard does mean a lot of work, the best thing about having a yard is that it provides a room to play, space for your dog to run and so on.
Houses usually win out in this regard. A house is a self-contained unit that is separated by a little space from another house. On the other hand, a condo shares space with other units. Do you value privacy? If the answer is a yes, then it may be good to consider buying a house.
However, sharing a common area like with a condo is beneficial in some ways. You will be able to access better amenities such as sauna, pool, fitness centre, and hot tub and so on. These amenities may be expensive if you decide to buy them for your own use. Sharing a common area also enables you to be closer to your neighbours.
If you want to have more control over your surroundings, then it is good to live in a house. You can decide whether to put up a fence, add on to your home, or do anything else you would like to do. With your own house, you can rent out rooms or even run a business at home. With a condo, you have to abide by association rules and you have less control over your home.
In general, it comes down to what lifestyle you want to lead and the budget you have. Regardless though, both homes and condos are wonderful places to live.