If you are planning to finally purchase a home in Edmonton, you will realize that there are many homes for sale. So, how do you pick the best one? And, which type of home should you opt for? There are plenty of questions you are going to deal with and one of them is - Should you own a condo or a single-family house?
Some readers may be confused between the exact definition of a condo or a single-family house. A condo or a condominium refers to a complex which has many apartments or houses. A single family home is a stand-alone dwelling unit meant for a family. It usually comes with a yard and a front lawn area.
There is no right or wrong answer to the question of a condo or a single-family house. A single-family house has its pros and cons, and so does a condo. However, this article will offer you parameters to help you make the decision.
Cost is obviously going to be a major factor in deciding which type of house you choose. Cost is largely dictated by the location of the house. However, many condo properties are new in comparison to single-family houses and hence, they are more expensive.
However, while the cost of purchasing a condo may be more expensive, the maintenance cost is lesser than a single-family home. Reason? With a single-family home, the maintenance cost is borne completely by the owner. A condominium refers to a complex of home-owners, hence the maintenance cost is shared. Furthermore, certain maintenance expenses fall upon the condo association and not the condo owner.
A single-family house gives you the luxury of space and privacy. The space within the four fences belongs to you. A condo home, on the other hand, does offer space and privacy. The space within your four walls belongs to you. Additionally, the condo association might have restrictions on smoking, outdoor activities and any modifications you can make to the home.
The distance between you and your neighbors offers greater privacy. However, at a condo complex, your neighbor’s home might just be a few feet away from your own. The idea of constantly being noticed and watched by neighbors may not be comfortable for you.
A condo offers more advantages than a condo association. The lack of space and privacy results in stronger community interaction. You will definitely come across neighbors throughout the day when you are picking up the mail, take your child to school and other such tasks. In comparison, a single-family home is much more isolated.
With so many homes for sale, making a choice between a single-family and a condo home is not easy. The answer lies in what you are looking for. If you wish to live in a house that’s spacious and offers privacy, then a single-family house could be the right choice. If you want your family to live in a strong community, then look no further than a condo home.
Still unable to choose? You can reach out to experts at Maxwell Progressive. We’re more than willing to help.