When you are trying to purchase a property, sometimes, you are not sure whether to buy a condo or a traditional house. Even though there are advantages and disadvantages of both type of housing, lifestyle and costs can help you determine if a single-family home or a condominium is more suitable for your needs. Are you looking for assessment to choose the perfect property in Laguna Hills? Click here, and you will find the best options for starting a quest based on what you need and your expectations, Integrated Realty Group will be glad in helping you.
Here you will see the advantages and disadvantages of both type of properties:
- location: Many condos are built in accessible areas and downtowns, so if you want to be near the city, or walking to many different amenities a condo might be a good option for you.
- Security: Most of the condos will offer you security features such as a guard service or a buzzer. Living between a group of neighbors also provides a sense of security.
- Maintenance: If you are not the type of person that spends time in the garden, condos save all that work and maintenance for you and you don´t even have to worry about those chores. Many condos hire professional landscapers to maintain the exterior, and even if you have something broken inside or that needs to be repaired they will also have someone to come and fix it. However, if you break it yourself, you will have to pay the damage.
- Amenities: since you live in a condo, most of them come with common areas, such as a tennis court, swimming pool, a gym and some other ones you might not be able to afford.
- Fees: It costs money to upkeep those amenities mentioned above. As a condo resident, you will require paying a monthly fee that goes for maintenance and repairs of the common areas.
- No land ownership: Sadly when you buy a condo, you won´t own the ground beneath it.
- Resale value: The sad thing is that condominiums tend to be very sensitive to the market conditions.
- Privacy: When you own your house you can enjoy more of privacy. Contrary to a condo, you won´t have anyone next door that could be able to hear in your home. If you truly value privacy, a house will be a better option for you than a condo.
- More freedom: If you want to have a garden, paint the house whatever you like, or build a playground, the sky is the limit when you own a house.
- Requires more maintenance: If you don´t have the time or don´t like perform house maintenance, a house may be not the best option. It can also include home repairs like a broken toilet or sewer line by example.
- Buying a house requires a down payment, closing costs and moving expenses.
- Home ownership is a long-term commitment.
Each of this housing choices has their advantages and disadvantages, and it´s up to you to decide which fits your current lifestyle financially and emotionally. If you feel that you need to know just a little more about the topic or it wasn´t that clear for you, here is a video that might help you understand it better.