The Good and Bad When Comparing Houses vs. Condos

Houses and condos are two different types of living styles. They are similar in a number of ways but there are subtle differences that make the two completely different entities.

When you purchase a condominium unit, you will most likely pay for amenities even if you are not using them. Condo fees can also fluctuate up and down and as a result, you might be paying for things you don’t want or need. This can be a turn off for people who don’t want an extra payment on top of the mortgage and other homeownership expenses.

There are no condo fees with a house. You only pay for what you use. A large part of condo fees includes physical upkeep with snow removal and landscaping. When you are a homeowner, these duties will lie solely on you to take care of – keeping up with the appearance of a home is a lot of work. If you are comfortable living the apartment life without having a yard than a condo might be for you. On the other hand, if you enjoy working on the house and have children and/or a big dog, a house may be the right fit for you.

A condo is nice because with the fee you pay per month to take care of the cosmetic aspect and upkeep around your house you know exactly what you are paying.  When you own a house there can be unexpected issues that arise and it can be hard to budget something of this nature.

Deciding if you want a house or a condominium is determining your lifestyle and how much you are willing to do around the outside part of your house.  If you are constantly at work and don’t have a lot of free time than a condo might be best.  Being away all the time can make the yard, grass, and garden look rugged.  If you are going to invest a large amount of money, make sure you are able to take care of your investment.

Children and large pets make it ideal to own a house.  You are already going to be home taking care of them so you will be around to take care of things around the house.  You will need to keep the yard clean so the children can play and if you have anything larger than a cat you will most likely need to be home to take care of that as well.  If you fall into this category, it’s worthwhile to consider a house over a condo.