Buying a Condo vs. a House: Which is Right for You?

At the Hawkins/Ryerse Real Estate Group, we want to help all of our clients find the ideal place to live. If you’re looking for a new residence, one of the big decisions you’ll have to make is whether a condo or a house is better suited to your needs. In this article, we’ll go over a few things to think about in order to decide whether buying a condo is right for you.

• One reason that many people cite for buying a condo is the lower price point. While in some markets, the median price of a condo vs. a house is close enough it doesn’t seem worth factoring into the decision, in most markets, a condo will be significantly more affordable than a house. If lower down and monthly payments sound appealing to you, you may want to buy a condo.
• Here at the Hawkins/Ryerse Real Estate Group, several clients who have chosen houses over condos report that they did so because they want to own every part of their home and surrounding yard. Clearly, living in a complex where the exterior and amenities are owned by an HOA would not appeal to them. On the other hand, the fact that the HOA is responsible for maintaining those things is one of the things that many find appealing about buying a condo — instead of having to mow lawns or make repairs, they can use their free time for other, more enjoyable activities.
• The last factor in the question of buying a condo vs. a house that we at the Hawkins/Ryerse Real Estate Group will cover here is location. Since many condos are located in downtown areas, they are a great choice for those who want to be close to the action and to have easy access to cultural centres, restaurants, and entertainment. If you prefer a quieter, slower-paced life, then a house might be the better choice for you.