When it’s time to buy a first home, many buyers struggle between the idea of a single-family house or a condo? There
are many factors to consider including the location and lifestyle you wish to have, the maintenance costs, the rules
of ownership, the price and your loan as well as the final
monthly cost for a new home buyer.
Also, as a first-time buyer you may not have the confidence,
home repair skills or experience to take on a fully detached
home with all of the upkeep. There are those of us with many
responsibilities who do not have time for home maintenance
or others who travel often and are not around to care for the
many idiosyncrasies a private home can present.
More buyers are deciding to purchase condos over houses
in recent years due to a resurgence in urban living. Condos are usually located in urban areas and within walking
distance to shops, restaurants and other places of interest.
Some also have resort-like amenities, such as pools and fitness centers, that would be cost-prohibitive in a house.
In this case, condos can be a great option as your monthly
association fees cover most of the cost of maintenance and
repairs. Owners of single-family homes must plan ahead and
set aside money for those purposes.
Condos are also preferable for those who don’t want as
much homeowner responsibility. You do not have to hire
landscapers or other contractors for large exterior maintenance.
However, owning a condo is not for everyone. When in
your own single family home, you do not have home owners associations who can tell residents where to park, ban
them from barbecuing on balconies, and otherwise impose
restrictions. And in city dwelling your neighbors are close,
and sometimes you can end up with someone less desirable
than you would like living on the other side of the living room
wall.
Think about how much privacy you would like. Having complete privacy is possible in a single-family house and condos
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