If you’re asking yourself, “A condo or a house?”, then congratulations! You have begun your homeownership journey. The very first step in home ownership is having the want to own a home. When there is desire, there is action. So, let’s begin.
We all have preferences for the home we want to have — the number of rooms, the wall color, if it has a pool or a loan, if it sits on a private lot or in the penthouse. But when it’s about choosing a home, whether a condo or a house, there are essential factors you need to consider.
Cost
The cost of the property should be considered. A property nestled in a prime location will be more expensive than that located on the outskirts of a metropolis. Also, a condominium in a prime location is almost always cheaper than a house in the same area.
When you buy a house, you need to think of maintenance and repairs, which you can schedule at your own convenient time. Condo-living, however, will require you to pay monthly association and other fees which are stipulated in the agreement.
Amenities
When you buy a condo unit, you can use all the shared common amenities. Some condominiums have an exclusive gym, a recreational space, and a swimming pool among others. Some even have in-house spa facilities. A house may not have all these luxuries.
However, a house on a sizeable lot may have a gorgeous lawn for kids and pets to enjoy. You can enjoy morning breakfasts at the Gazebo. Privacy is priceless.
And speaking of pets, some condominiums do not allow owners to have one. So if you’re an animal lover, you might have a hard time looking for a condo home for you and your pooch.
>> Find affordable home financing.>>
Convenience
Are you working in the city? Do you have kids who go to school? How often do you go grocery shopping? The proximity of your home to these places will matter. Your lifestyle would also factor in.
Living in a condo situates you right at the heart of the city. Everything is nearer, the office, malls, marketplaces, and hospitals among others. That will mean less driving to and from a suburban house every day.
But if you have a family and you want them to have a more peaceful, less chaotic life than what one normally experiences in urban areas, choose a home outside the metro. The suburbs and the rural neighborhood may be a lot safer for your family, especially for the kids.
Renovations
When you own a house, whatever changes you make is highly up to you. Knock down some walls. Build an outdoor fireplace. You can modify as you wish.
When you’re expecting another little one, you may need to consider adding a room. In a house, you can very well start the renovations. Albeit, in a condominium that may not always be possible.
There are certain restrictions when you live in a condo unit and you want to do some home modifications. You would need to ask permission from the condo board to make improvements or changes. And, not all renovations are possible. You may remove walls, but not pillars. You may add a guest room, but not a balcony.
These are things you need to factor in when choosing between a condo unit and a house to make as a home. Whichever you choose, the most important thing is to make this space a place where you find peace and retreat to every day.
>>Whether a condo or a house, you can find reasonable financing.>>
