Condo vs. Single Family

Did you know that condominiums are one of the fastest growing segments of the housing market? Owning a condo is perfect for those with busy lifestyles, little interest in home maintenance or landscaping chores or who frequently travel. Condos are a fine choice for a first home or when downsizing from a larger house.

Here are some pros and cons to consider:

Condo:

·        Fewer maintenance requirements.

·        Usually less expensive than a single family home.

·        You own the space inside the walls.

·        There can be more security with neighbors close by.

·        The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.

·        Special assessments by the association for painting or repairs can be a substantial added expense.

Single family home:

·        Usually offers more storage space.

·        You own the interior as well as the exterior.

·        You are responsible for all maintenance, landscaping and repairs.

·        You usually don’t have to pay community dues or special assessments.

·        You have room to grow plants, flowers, trees, veggies, etc.

Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?

For more information about real estate options in our market, call or email us. We’d be happy to discuss your goals and options available to you.

      

Comments

[louisville condominiums]

For me i want a condo than family home.Thanks for mentioning this valuable topic.

-Ella

[Costa Rica Marinas]

Thanks for important information.