Lakeside condos toronto

Which Is Right for You – A House or a Condo?


Whether it’s your first time in the home market, or you are looking for a new place to call home, buying a home or condo is one of the most important choices you will ever confront. You probably already have a list of characteristics which are important for you. You know how many bedrooms and bathrooms you desire, you know what type of local amenities are important for your family, and you’ve got a budget. Still, many buyers may find that both condos and homes fulfill all their requirements, so how do you decide which is ideal for you?
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There are different advantages to both kinds of properties, and there are also disadvantages. For example, if you’re keen on a metropolitan way of life and you are interested in being near the heart of the city, you might have no other option than to buy a condo. Buyers who do not have children, or don’t want to be burdened with all the chores required to keep a single-family home can also prefer a condo. On the flip side, if you would like a larger space with more privacy, or you prefer to be farther from the hustle and bustle of town, a home might be the better alternative for you and your loved ones.

One mistake house buyers make is the premise that a condo will be more economical than a home. This is sometimes not the situation. Depending upon the size and location of a condo, you can pay a few times more for a condo than a detached home. Similarly, you may assume that a home will be bigger than a condominium, but if your budget isn’t a major concern, you may often find sizeable condos even at the centre of the busiest city. And condos are getting more popular even in suburban areas, so when it comes to choosing between condos and houses, budget and size aren’t the only aspects to think about.

Advantages of Condos over Houses

The purchase price of a condo versus the price of a home in precisely the identical neighbourhood will probably be considerably different. Most houses are priced at least partly based on square footage, and condos are usually smaller and cheaper. In addition, maintenance for condos will be less time consuming as you likely don’t have a lawn or outdoor area to maintain. On the flip side, a home offers a level of privacy and independence that’s difficult to achieve if you get a condo, as you may get more sound from surrounding neighbours, and you share property choices with other condominium owners.

How to Choose

Basically, if you are looking for between a house and a condo, you want to contemplate 5 major factors: location, privacy, duty, upkeep, and price range.

First determine if your desired location has housing and condominium options available, and then determine which fits your needs more. For instance, do you require access to colleges, public transportation, or shopping? Next, think about your privacy. A single-family home will be much more personal than a condominium, but you will also have more responsibility for upkeep. If you hate household chores, you may prefer a condo where a lot of the outdoor upkeep is included in your condo fees. And lastly, be realistic about your financial plan. Based on your location and individual needs, you could discover a condominium is the only option that meets your budget.

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