The Great Condo vs. Home Debate: 7 Things To Consider Before PurchasingJun 20 2012
Are you confused if you're more suited for owning a condominium versus a single-family home? Both can be wonderful options, but it depends largely on your lifestyle. Here are a few ways to decide:
Like the idea of being close with your neighbors? Well, with a condo you'll definitely achieve that! Living in a condo, you'll be (physically) closer to your neighbors than in a single-family home. But that might not always be a good thing…
2. Amenities and Fees
Condos can offer you a lot of fun perks. Swimming pools, fitness centers, shopping centers – there's no reason to leave the building! But those amenities come with fees, which are usually fixed and non-negotiable. Make sure those amenities are worth the fees you'll be paying.
Along with those amenities and close neighbors come rules. Sometimes really strict rules. Some condos don't allow you to have home-based businesses or even pets. Make sure your lifestyle matches with the rules you need to follow if you buy a condo.
Have a large amount of collectables? A condo might not be the best place to keep them since they're a bit tight on space.
Does the idea of a maintenance-free lifestyle appeal to you? With on-site maintenance personnel, condos can offer you just that.
Speaking of maintenance-free, do you also hate yard work? Private yards are either small or non-existent when it comes to condos. But if you have a green thumb and love gardening, you may want to consider sticking with a home that offers you a yard.
Condos offer pretty great security, with keyed entries and sometimes armed guards. Plus you'll be close to a lot of people if an emergency ever emerges. If security is on the top of your priorities, a condo may be a great way to go.
So what do you think? Are you more of a condo or single-family home type of homeowner?