Wednesday, 27 April 2011

Pros And Cons - House Or Condo?

By Maria Valenzuela


First time home buyers can prove that buying a home is not that easy. There are so many things to consider when buying especially that there are so many types of homes available in the market. Whether it's a single family traditional home, or a shared building like a condo or an apartment, you have to weigh so many things like the benefits and downsides of every home and not only consider the price if it's affordable or not.

Torn between buying a condo and a traditional home? Why not get a piece of paper and list all the pros and cons of both types of homes. Make sure that you divide the paper so you might be able to see the comparison clearly.

Condo living involves paying for the association fee which is attached to the monthly payment and covers the exterior work like repairs and outside maintenance. One major disadvantage however is that the condo owner cannot do any interior changes without the consent of the condo board. Even painting jobs or adding security system, the condo owner cannot decide on his/her own, she has to ask the condo board's approval. And since everything is shared, expect less privacy in the condo setting.

Although the association fees can get very expensive, there are many senior citizens who like living in condos because they don't have to worry about repairs and outside maintenance. Moreover, the association fees can cover snow removal, trash removal, as well as lawn maintenance. Aside from these services, there are amenities available for them like pool, or spa. In terms of price, the cost of a traditional home is almost the same with that of a condo. However, the price varies depending on the location. There are upscale and luxury condos which are much more expensive than other types of homes.

On the other hand, traditional homes require labor especially in lawn care, repair and maintenance of both the interior and exterior areas of the home. A homeowner has many obligations but s/he has more freedom when it comes to doing some painting, having a flower garden, or even having a pet. However, in some communities and condo building, there is no space for pets of any size or weight.

There is more space and freedom when it comes to living in a traditional home. The pool is private and they can raise all the pets they want, or plant all sorts of flowers. The owner can hang anything on the wall of his house and s/he decides for every repair, maintenance, and renovation in his home unlike in a condo building where the board makes almost all of the decisions.

Everything depends on your needs and wants whether you are going to purchase a condo or a traditional home. If you are too busy doing repairs and maintenance, consider condominiums. But if you want to raise some pets, have your own privacy, and make all kinds of renovations to your home, traditional might be the one for you.




About the Author:



No comments: