When thinking of purchasing a new home many people now decide that a condo is the right choice for them but how do you know which is right for you? Let's explore the differences so you have more information to decide whether you are more suited to a condominium or a house.
One of the main factors when deciding which type of dwelling you want to call home is the type of lifestyle you have. If you are an avid gardener and have always wanted the white picket fence and a swing in the yard for the kids than you are probably more suited to a home with a yard and space. Many families with children will decide that they prefer the neighborhood with the yard and prefer not to live in a condominium setting because a house offers more room and access to the outdoors. Many condominiums have wonderful amenities such as exercise rooms, games rooms, tennis and basketball courts and swimming pools that offer choices that a house in the same price range could not possibly give. Condos are in high demand in urban areas and will appreciate most often comparably to a house of the same value without the endless need for outdoor repairs and care of the yard or home.
A person who wants total creative say in how they make changes to their home may prefer to live in a single family home rather than a condo as most condos do have some sort of dual ownership and clauses that do not allow you to make certain changes to the dwelling. Most condo owners are bound by the condo board or associations set of rules and will need to pay condo fees in order to cover the costs of maintaining the common areas. They will need to follow the stipulations put forth by the board or association when it comes to any changes or renovations that they may wish to make and follow the rules that all condo owners in the building are bound to. A house owner has more say in changes they wish to make and are only bound by the laws of the city or community that they live in.
It is important when buying a condo or home to read every document that is presented to you as thoroughly as possible and to make sure that you know what rules, contracts and fees are associated with the purchase of the property. Buying home in a gated community or a condo with strict rules may not be what you are looking for. On the other hand you may enjoy the innovative style and carefree life of living in a condo in the middle of the city with no grass to cut, a sauna outside your door and no large repairs to worry you.
Many retired couples or busy working couples find that a condo is the perfect answer for them and appreciate the lack of need for upkeep, the options for recreation and the location. While others find that they need and love to have grass out their front door, the ability to change whatever they want and the beauty of a single house dwelling. Either way it is always important to find out all of the restrictions, rules and costs involved in your choice and to shop around and see what is available.