Purchasing any form of real estate can be a daunting task as there are several options to choose from, but today we are going to cover the top 5 benefits of purchasing a condo vs a house.
1. No Outdoor Maintenance
Depending on the condo association one of the top benefits of purchasing a condo would have to be the outdoor maintenance that your condos fees pay for. Things like shoveling snow, mowing the grass or exterior building repairs are often taken care of by the condo association.
2. Extra Amenities
When comparing a condo vs a house there are often several amenities that the average home doesn’t have. Things such as a gym, hot tub, or a pool can often be found with-in the condo building for the owners to access. These amenities will also be maintained by the condo association so you don’t have to worry about them.
Condos are safer and more secure than the average house or apartment rental. The people that live in the building own a part of it so they are much more inclined to care for it. As well, most condos have a secure entrance with either a locked door that requires a key or doorman. You will also feel safer knowing that your trusted neighbors are close and can keep a close eye on your property it.
This one is pretty self-explanatory, but depending on where you’re living, you will often find that condos are cheaper to purchase than a home. Also, the mortgage on the condo with the condo fees could be close to the same price as paying rent in that area (do your research).
With the cheaper price on condos you may have to sacrifice size, but you can often acquire a nicer location to live. Think about the price of purchasing a home near downtown Vancouver vs the price of buying a condo in that same area, still insanely expensive, but you get the idea.
Purchasing a condo vs a house can be a great option, but it’s all about what’s right and works for you! Hopefully this article helped make it a bit clearer.