When buying a home, buyers can choose between a condominium or a traditional house. The type of the house is also as important as the location. Hence, it should be one of the main considerations you must make. Usually, homeowners, buy house and lot as they believe that it is more practical. However, some real estate experts believe that condo ownership has also some advantages that traditional houses do not have. If you are planning to buy your first home, you are in the right place. This article will provide you some of the advantages and disadvantages of buying condo and a house. This will allow you to effectively gauge some factors and therefore you will be able to make a wise decision on buying your very first home.
Condo
A lot of buyers are deciding to buy condos over traditional houses in the past years. This is because of some of the benefits or advantages of living in an urban setting. Usually, condominiums like Sims Villa are located in urban areas. One of the main advantages of living in a condo is that you are located near restaurants; shops and other places of interests are most of the condos are located near establishments. Most of the condominiums have also amenities, such as pools and fitness centers and of these are for free. These benefits are not usually found on traditional houses. Condominiums are also ideal for busy people because it is usually convenient. It doesn’t have high maintenance as well so you no longer have to worry about expensive fees for maintenance. Most of the time, you just have to pay for association fees.
There are also some advantages of living in a condo. One of the major drawbacks is that condominiums are usually more expensive. Also, compared to traditional houses, you don’t get to have more privacy in a condominium. Additionally, owners of condominiums need to pay for the association fees which are usually expensive. This association fee is usually collected every month so living in an urban setting is really costly.
House
For some people who would like to be practical, buying a traditional house is the right choice to consider. One of the biggest advantages of buying a house is that you, as a owner, have a total control over the property. Hence, you can remodel or make changes without having to ask for approval of other people. Also, living in your own house allows you to have extra outdoor and indoor space. This is more ideal for accommodating families, children and pets. Houses also feature more storage space in attics, closest and basements. Lastly and most importantly, living in your own house allows you to have privacy.
But just like living in a condo, home ownership has some drawbacks as well. As an owner, you will be totally and fully responsible for all the maintenance needed inside and outside the property. This includes care and upkeep of the trees and yard. Other maintenance is also needed and you will be investing a lot for the tools and equipment needed.
Ultimately, as a buyer, it is important to consider some of the important factors before deciding what property to buy. Knowing these advantages and disadvantages of buying condo and a house is a great way to start.
Jane Castro is a journalist and media enthusiast. She graduated from the University of Bacolod in the Philippines. She loves skating, scuba diving, and archery on her free time.