Single Family Home Ownership vs. Condo Living
So, you are thinking about getting into home ownership. Before you do, here are some the pro and cons of single family home ownership vs. condo living.
Might want to read over before you make the wrong decision. Everyones lifestyle is different so make an informed decision before you make your move.
The Good and the Bad
Home…With a home you can enjoy your own private yard area.
Condo..Yard maintenance at your own expense and labor. You need to get permission to do most anything outside of your condo including, landscaping, having a flag or changing any pre-existing conditions.
Home..You can paint, change exterior of home do whatever you wish.
Condo…Typically must obtain permission from association before any exterior changes can be made. This can be a long process and typically not successful in most cases unless the changes conform to association guidelines and some can be very strict.
Home…No condo fees to pay every month. (But you end up paying them in the long run sooner or later, but on your own timeline) ie: Lawn maintenance, roof replacement etc.
Condo…Expenses for maintenance must be paid every month. All the items you would typically pay as part of the maintenance fee are now at your own expense: ie: roof replacement, insurance, snow removal etc.
Home…Any extras such as a pool are at your own expense.
Condo….A condo may afford you the ability to have frills you may not otherwise be able to afford at a home like a pool, clubhouse, or gym.
Hopefully by now you have started to get a grip on the pros and cons of buying a condo vs a house. Each of these housing choices has their advantages and disadvantages.
It is up to you to decide which fits your current lifestyle best. Make sure you give ample time to deciding which makes more sense both from a financial and emotional standpoint.
Interested in making a move? Contact me anytime….Warren Damiano Premier Properties The Damiano Group..973-256-0303 x 204