Condos Vs Houses

CONDOS VS HOUSES

Where do I want to live? What type of lifestyle am I looking for? What type of home ownership best suits me and my family? What are the differences and what are the costs? Are all townhouses condominiums? How can a single family home also be a condo?

These are questions that many Buyers ask and I can answer them to help you determine the best choice for you and your family. Understanding the differences between living in a Condo or living in a House is important .

What is a Condominium?

A Condominium is a type of ownership. Owners buy into a corporation that has a condo board of directors that determines how the property is managed and maintained. The costs of these decisions is shared by all the Owners thru their condo fees. Each condominium built is required to have 10,000 Unit factors that are allocated by the builder to each condo at the time of development. Your monthly condo fees are based on your unit factor. Condo fees usually cover the reserve fund, building management, repairs and maintenance of the buildings exterior and the common property. Water and sewer and utilities can be included in your fees depending on the style of the condo and how the fees are structured. Interior repairs and maintenance are the direct responsibility of the Owner. Each Condo corporation is different and it is important that you understand what the condo fees cover.

What choice is best for you?

Condo                                                                                                                                                                                                                                                                                                                                                          Are you looking for the freedom to lock and go? Not worry about maintenance? Are you a first time Buyer that finds owning a house with all its responsibilities a little intimidating? Maybe a condo is the best choice for you.

Houses                                                                                                                                                                                                                                                                                                                                                  Do you have a large family and want a yard with space to use freely? Do you enjoy your privacy and do you want absolute control over all the decisions that affect your home? Maybe a house is the best choice for you.

More and more people are considering condos, and as a result, there has been a huge rise in the development of condos in the real estate market. It is important, though, that when deciding to buy a home, you determine the type and style of home that works best for you.

Feel free to contact me at any time to learn more about the condo and house market, and I would be more than happy to provide additional information on the benefits of both.