Felise Eber Blog

The Pros and Cons of Buying a Condo vs. a House

Friday, April 28, 2017
Tags:   Felise Eber

If you’re beginning to think about buying a new home and aren’t quite sure if you would rather live in a condo or a house, consider the pros and cons of each below:

Condos- A condo is a home within a complex of various similar units. As the owner, you can make decisions regarding the interior of your unit, however, the Home Owners Association (HOA) is responsible for the common areas and the exterior.

Single-family home- A single-family home is a house, a separate structure that is designed to be suitable for only one family. As the owner, you get to decide what you want to do regarding the interior, exterior, and everything else on your property.

Cost- The home price of a condo tends to be lower than that of a single-family home because they are usually smaller, yet there are ultra-luxurious condos that are even in the double digit millions. A price of a house varies depending on the size, location, and age of the home.

Maintenance for a condo is also usually lower than that of a home as you are only responsible for HOA fees and a few things that need fixing inside your unit. The older the unit, the more expensive the maintenance will be. A house, on the other hand, has more maintenance expenses as you have to fix everything that goes wrong on the entire property, on top of constant landscaping, etc..

Location- If you enjoy walking, especially to work, restaurants, shops, and grocery stores, a condo is a better bet as they’re often situated in more lively central areas. If you prefer living in a quieter neighborhood, away from the hustle and bustle of everyday life, a house is a better option for you. There are many residential suburbs that have peaceful streets with out any city noise.

Privacy- Since condos share walls, ceilings, and floors with other units, if you strongly dislike partying or loud neighbors, a condo may not be for you. There are condos with stricter regulations that target an older demographic, so be sure to speak with your realtor and even some of the current residents for more information.

If you live in a house, you do have significantly more privacy than in a condo. Although some houses are closer together than others, for the most part you can build fences and landscape on your property to block the view into your neighbors home. Plus, you have your very own backyard and perhaps even a pool, instead of having to share it with all of the condo’s residents.

Control- In a condo, you can only alter the interior of your space. You can usually do as you please to your unit, but that’s about it. If you don’t like the exterior color of your building or have any other issues, you will have to talk to the HOA about it.

Generally speaking, you’ll have more control in a single-family home, but there could still certain things that may be out of your jurisdiction and in the hands on the city. You do get to choose the aesthetics of both the inside and outside of your house and land.

Overall, condos tend to be a better fit for singles and young couples, urban dwellers that enjoy walking, and people that are willing to give up control and keep things simple. Single-family homes usually work better for families who prefer keeping neighbors at a distance, they like to garden or landscape, and making all of the decisions of their home. Whatever works best for you!

Thank you for reading my article and be sure to contact me, Felise Eber, of The Jills for all of your South Florida real estate buying, renting and selling needs.

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