Condo vs. House: What You Should Know
Every housing option comes with advantages and disadvantages. Condo-living might have a lot of perks, but it is not for everyone. Thus, whether you choose between Condo vs. House, it comes down to your preferences and lifestyle.
A Condo and a house are two major housing options that are popularly available. Generally, the benefits of one are the drawback of the other. Keep in mind that there is no one-size-fits-all option here. Each housing option is designed to comply with the needs and preferences of its owner. Likewise, some people experience living in different housing situations, depending on their life or financial status.
Why A Condo Is A Good Idea?
The significant advantage of buying a condo is its more affordable price. They are significantly less expensive than buying a house. However, price gaps vary widely in different markets. Still, when you have a specific budget for a home, condos having a lower price also means a lower down payment on your part. Likewise, it also indicates a lower monthly mortgage.
No Exterior Repair or Maintenance Needs
People who are always busy with their work might find condo living extra beneficial. In case of having a house, you might find yourself dealing with mowing the lawns, trimming hedges, raking leaves, and repainting your exteriors. But for condo dwellers, it is a different scene.
A condo’s exterior is owned and maintained by the homeowners association. Thus, you don’t have to worry about repainting jobs and trimmings. All you have to deal with is what’s inside your unit. Everything outside your door is no longer your responsibility, so you have extra time and budget for other pursuits.
Typically, condos are smaller and densely packed. They are usually built in a high-rise close to amenities and central business districts. Condos in downtown areas have easy access to shopping, job opportunities, cultural activities, and entertainment. When you live in a condo, you are afforded convenient and shorter commutes compared to homeowners.
Another tremendous advantage of living in a large condo complex is the shared amenities that unit owners can enjoy. There are tennis courts, parking areas, jogging trails, swimming pools, pet parks, children’s playgrounds, and even golf courses. You don’t need to leave the property to enjoy these amenities, unlike homeowners, who need to commute to public facilities to use such features.
Social Networks and Connections
Neighbourhoods in suburban areas are often well-spaced and far apart. But condos tend to be closer to flats, and there is a density factor. Your home is surrounded by others, and people live beside, above, or under your unit. On your floor, there might be more than 10 units occupied by your neighbours.
This density creates a warm level of closeness that does not exist in subdivisions. Condo dwellers are often people of the same interests, backgrounds, or culture. Thus, there is a higher likelihood of socialization. Additionally, the easy access to standard recreational amenities offered by condos leads to more pronounced activities.
Why is Buying A House Better than getting a Condo?
When it comes to real estate, it generally means owning land. And when you buy a condo, you don’t get a land of your own. This is the primary advantage of buying a house vs. getting a condo. When you purchase a house, you also own the land where it is built. Although there is some maintenance need, you can quickly improve the property to suit your needs. You can create a private pool, start a garden, have a fenced-in backyard playground, or hold barbecue parties. These things can and will never happen if you live in a condo.
Better Self-Expression and Determination
Condos are made to look uniform, and you can’t do anything to stand out. You don’t own your exterior, so you can’t change anything even if you don’t like it. When you own a house, you have all the rights to make changes according to your desires. You can paint it brightly, add flower beds around your property or build a jungle gym for your kids in your backyard. You can customize your home anyway and anytime you want.
Space to Expand
As related to the land factor, owning a home gives you an opportunity for expansion. You can add rooms, build a second floor, or a deck in the backyard. You are free to rebuild, reconstruct, and redo your home according to your needs. It is especially advantageous if you have a growing family. In some areas, homeowners build a guest house on their property.
A Houses Adapt to Your Life Changes
There are many advantages to having a house when it comes to your life changes or decisions. You can start some home business, which you cannot do when you live in a condo. Also, condos have limits on who and how many residents can live in a unit. Meanwhile, if you have a house, you can open it up for your siblings or your parents when they need a place to stay for some time. Condos usually have restrictions that might prevent you from making arrangements.
Houses Are Easier to Sell Than Condo
Despite the many advantages that condos can offer, it still is viewed as a substitute house. It can be tough to sell condos, especially in a lousy real estate market. They are only sale-able for people in a specific market, while houses on private lots are easy to sell across all types of needs. Also, after it has been customized, the individuality of each home has a higher appeal to buyers. However, it can take a long time for uniformed condo units to sell one unit that looks exactly like the rest in the complex.
Condo vs. housing does have benefits and drawbacks. Whichever works for you will be the best choice for you. You will see that each housing type has some impressive benefits for a period of your life. Some people would benefit and may enjoy living in a condo while they are single or just starting out as a couple. On the other hand, people who have a growing family will indeed find a house advantageous for their situation.