Condos are getting more and more popular these days. However, they’re not for everyone. So, the decision of which you should buy or rent – house vs condo comes down to your style of life and preferences.
All of the possible options come with both benefits and drawbacks. These are usually opposites of each other. You just have to remember that here there’s no one size that fits all. The situation in which you’re going to find yourself will be specific and only you will be able to make the best decision.
Similar to our approach in the article on how to take advantage of today’s real estate market, our mission here is to help you understand what to think about when choosing what you’re going to do. So, without further due, let’s dive in.
Why condo might be the right fit for you
No repair or maintenance on the exterior
One of the main advantages of having a condo over a house is that you don’t have to do any maintenance tasks outside. There’s no mowing the lawn, painting the house, pruning trees, or doing anything similar. You’re free to hang by the pool or take a weekend trip wherever you want.
The homeowner’s association takes care of the exterior of a condo, as they legally own it. You, as an owner, are responsible only for the interior.
Condos are smaller, and because of that they’re much more densely packed, thus placed closer to amenities. This is especially true if we’re talking about the downtown areas.. All the shopping, entertainment, and job opportunities will at your doorstep.
So, a shorter commute time another reason why you should think about getting your first apartment moving checklist ready.
Maintaining and creating new social connections goes in favor of apartments in the battle of the house vs condo. Detached single-family homes tend to create a gap between neighbors. The sense of closeness is much more present in an apartment building as you actually do have people living all around you.
This creates a level of intimacy that you simply can’t recreate in suburban areas. Additionally, since condos usually attract people with similar interests, you’re very likely to find someone you can really enjoy spending time with.
Why a house is a better idea
According to the research that Zillow did, the average price for a single-family home as of October of 2020 is $301,000. Condos, on the other hand, are a little bit more pricey coming at the average of $339,000. Therefore, it’s cheaper to buy a house in most of the US.
Having room to grow
As your family grows, you can grow your house as well. Knock down a wall, add an addition or adopt a loft. Although there are ways to combine 2 apartments in 1, these are still possibilities you don’t get in a condo building.
Having some land
Although you’ll have to do a little bit of work around it, technically you’ll own a part of the land. By definition, condos don’t have this. You can build a pool in your backyard, or grow a garden. You’re free to do whatever you want, and this freedom is why houses win in this round of house vs condo.