House VS. Condo

With more and more people to moving to cities, urban populations are exploding. As a result, condominiums are rising in popularity. An awesome ownership opportunity, different from the traditional home ownership process. But is one better than the other? Which should you choose for your needs? There are significant advantages and disadvantages to both, and we'll discuss them hear.

house nounhous/

  1. 1. a building for human habitation, especially one that is lived in by a family or small group of people.

con·do·min·i·umˌkändəˈminēəm/noun

  1. 1. NORTH AMERICANa building or complex of buildings containing a number of individually owned apartments or houses.
    • 2. the joint control of a country's or territory's affairs by other countries.
    Many people are leaning towards condos these days because of the shift to urban living. Condos offer up many advantages. Such advantages are the freedom from maintenance of the property, while also still retaining a modicum of ownership. All the condo owners on a given complex participate on a board and make decisions about the complex and common areas amongst themselves. Many condominium complexes also offer resort like amenities such as swimming pools, exercise facilities, and even spas. Even small things like not having to sweep leaves and shovel snow make condo life advantageous.

    However many people opt to own homes for it's many advantages. Complete and total control over the land and property decisions, and more space for friends, family and storage. Many people complain that the maintenance fees for condos are exorbitant and way too expensive. Also owning a home provides far more privacy than condo lining, without having your neighbors in such close proximity.

    While you won't be hit with maintenance fees owning a home, you do assume financial responsibility for every little thing that occurs to your home. Consider it the penalties of total ownership, but some people love nothing more, and take great pride to up keeping and upgrading their homes.

    Millennials are officially outnumbering baby boomers, and are beginning to enter first time home buying age. With credit more accessible for now, and after years of intense new development, there is no shortage of homes, especially in America's second their cities.

    What do you think? Would you prefer living in a condominium or a house? Which advantages and disadvantages matter the most to you? It's is generally easier to finance a house, however, all things even, buying a condo is far cheaper. Condos offer closeness to shops, restaurants and other amenities associated with living in a urban center, whereas homes can offer privacy and space. Houses tend to be considered as a better investment, but condos do offer more flexibility. Let us know how you feel and share your response. Happy home buying!

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