Condos vs. Single Family Homes: Pros & Cons
Condos vs. Single Family Homes: Pros & Cons
Options are vast but choosing the right among those is the most difficult part. Same goes for the condominium or an Individual house. One of the most important decisions you have to to make is the housing type, after all, it decides everything. There's a big difference in owning a traditional house and a condo building because the land, space, and area take this matter to another level.
Which one's suits you the best? We will determine it by making a list of Advantages and Disadvantages of types of houses.
Condos vs. Single Family Homes: Pros & Cons
We are going to list Advantages & Disadvantage based on realistic events.
*1 - Individual House - Advantages
1: You will have full control over the property, and you are responsible for the benefits and losses when you own the property.
2: Re innovation should never be an issue with Individual houses.
3: An ideal place for organizing small parties at home, should not be a problem because of its private property.
4: Accommodation of Families, Relatives, Pets, and Friends should not be an issue.
5: You have your Garage, Store room, Attic, Garden or an open place and more.
Disadvantages
!: You are responsible for everything such as Repairs, Water Maintenance, Plumbing issues, Cleaning of the outside space, and gardening. It is indeed a drawback, which consumes plenty of your Time each week.
2: The cost of Handling, Cleaning, Re innovation, Repairs, and improvements do come at a high price each year.
3: Most of the Individual houses are where the thefts or any breach of security occurs due to lack of Security like you are provided in the Condo buildings.
*2 - Condo House - Advantages
!: Decent protection is given at the Condo, and fugitives are afraid to implement their evil plans in between crowded area.
2: The Condo takes care of the maintenance, which saves your money and time.
3: Condos are located at those places, where you can reach Coffee Shops, Library, Schools, Colleges, Bus stands and more within walking distance.
4: Currently, several Real-estate giants are working on providing condos with facilities like GYM, Park, Swimming pools, Clubs and more. Which makes you feel like you are living in a resort.
5: The Resale value of a Condo only gets better with time. Of course, not before the lifespan of the Condo is close to expiry.
Disadvantages
1: You cannot accommodate your Relatives, Pets, and even listen to music at a high volume.
2: You cannot organize parties at your place because it would disturb your neighbors, who live close to you.
3: No matter, how many thousands of dollars you have paid for the Condo, the land remains to the Builder or Landlord. After the expiry of the building, you may have to vacate the place (Applies to only a few countries).
4: You have to pay a fixed maintenance each month, in several locations, the maintenance is higher.
5: If you sell the Condo way past its expiry then you can expect good resale value, or you may end up settling for less.
6: You have no control over the way things work. There are rules and restrictions which you may dislike.
Conclusion
If you are seeking for an advice, then i would suggest you to go for the Single-family house because you have 100% control over the property and it remains yours even after a century. Condo has too many restrictions, which i personally dislike. Shoot your Opinions & Experience in the comment section below.
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