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Five Reasons to Consider Buying a Condo Instead of a House

Posted by Carrington Real Estate Services on June 7, 2016 at 2:08 PM

Just as home ownership represents something different to pretty much everyone, there is also a wide range of options when you consider the type of home that makes the most sense for a particular buyer.condo-living.jpg

Based on the priorities of the person signing up for the commitment of ownership, different types of homes are definitely not created equal. Where a single family home might be where most people begin their search, there are quite a few people that eventually realize that condo ownership is a much better fit for their lifestyle.

Even if you have never considered buying a condo, thinking about the following five arguments in favor of condo ownership might have you suddenly reconsidering your options.

1. No Maintenance

They might have very different views on most topics, but one thing that baby boomers and millennials can both agree on is their preference for avoiding anything even remotely close to maintenance when it comes to their homes. This just happens to be the most popular reason for purchasing a condo instead of a house.

In most condo situations, all of the exterior maintenance around the property is included in the condo association fees. That means that you don’t have to ever worry about bothering with cutting the grass, painting, or pool service. This can save you hours and hours each and every year that you own the property.

2. More Bang for Your Buck

Not only do condos have far less maintenance than their counterparts, they are usually less expensive than comparable single family homes as well.

You’ll never be able to truly compare apples to apples, but as a general rule you will be able to get more square footage and features for the price with a condo.

That means that anyone who is primarily concerned with getting the most bang for their buck can usually find a better value in purchasing a condo than they can for a single family house.

3. Amenities for Days

As if getting a better value and not having any maintenance to worry about weren’t good enough, we haven’t even started talking about all of the amenities that are included with the typical condo unit.

These amenities can vary tremendously from condo to condo, but many come complete with access to a community pool, a fitness center, and usually some type of social or gathering room. Some higher-end condos even include access to golf courses, concierge services, and fine dining!

4. Lower Taxes and Insurance

One of the biggest drawbacks to owning a condo compared to a single-family home is that you won’t own nearly as much land. But that negative quickly becomes a positive when you consider the impact that can have on your property taxes and insurance.

Generally, owning a condo will save you money on both taxes and insurance compared to a comparably sized house. And who wouldn’t like saving money on those expenses each month?

5. Sense of Community

Because condos contain multiple units, they are a fantastic option for social owners who would like to have a large group of neighbors to interact with. If your idea of a good time involves hosting the annual condo BBQ or hanging out at the pool, condos offer a great way for you to meet a lot of different people.

No matter what you eventually decide is the perfect fit for your needs, there is no denying that condos offer a host of advantages that are often overlooked by homebuyers who don’t take the time to consider them.

Don’t miss the boat on a potentially great deal by making that same mistake!

Based on the priorities of the person signing up for the commitment of ownership, different types of homes are definitely not created equal. Where a single family home might be where most people begin their search, there are quite a few people that eventually realize that condo ownership is a much better fit for their lifestyle.

Topics: Buyer Resources

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