Condo vs. House: Which Home Is Right For You?

Looking for a clear, straightforward explanation of home buying and selling? Estately has you covered with its ongoing series of articles demystifying real estate.

Condo vs. House

Many home buyers wrestle with the decision of whether to buy a house or a condo because both options have their advantages. Condos are generally more affordable and easier to maintain, while houses provide more space and privacy, and hold their values better. So which of these types of homes are right for you? Estately has listed four reasons a house is better than a condo, as well as four reasons why a condo is better than a house.

Why a house is better than a condo

1. Less proximity to neighbors

They say good fences make good neighbors, and there are no fences in a condominium. All there is between you and your closest neighbor is a wall, ceiling, or floor. If your neighbor is raising shrieking babies, has taken up drum lessons, or likes to sing in the shower you’ll probably hear it.

2. No condo association = no condo association rules

If you ever had roommates then you probably endured long house meetings where everyone bickered for hours over house rules and whose turn it was to wash that cup in the sink. If you thought that was bad just imagine having such meetings with all the residents in your building. However, if you own a house, your neighbor has zero input on whether you can own ferrets, paint the trim green, or plant tomatoes on the deck.

3. No condo fee

If you own a house you won’t be paying any condo dues. When repairs, maintenance, and improvements are made to a condominium the residents collectively pay for it from money sourced by monthly, quarterly, or annual condo fees.

4. Better value

While houses generally cost more up front, they often provide a better overall value for a handful of reasons.

• Home loans for houses often have lower interest rates than condos do.
• Houses retain their value better so resale is higher.
• It’s usually easier to sell a house because they’re generally in greater demand than condos.
• Condo residents own just the space within their walls, while house owners also own the land their houses are on. Not only does land almost always appreciate in value, it also means someday you can tear down your house, build a condominium, and sell it back at a marked up price.

Why a condo is better than a house

1. More amenities

The cost for homeowners to build a workout room, swimming pool, rooftop barbecue area, and party room would be immense. However, condo owners can share these costs and enjoy all the amenities at a fraction of the price.

2. No yard work

For a condo owner, the weekends are gloriously free of mowing, weeding, pruning, raking leaves, or shoveling snow. This saves countless hours that can be spent hiking, spending time with friends, or starting a lucrative weekend lawn care business.

3. Less expensive

Especially for first-time home buyers, or people on tight budgets, a condo is often a less-expensive option. It also doesn’t come with the maintenance costs that a house does, and if the plumbing fails you won’t have to pay for it all yourself.

4. Closer to downtown

If you work in the city, condos are probably closer to your job. This cuts down on commute times and transportation costs, which give you the time and money to enjoy the restaurants and entertainment the city has to offer.

Regardless of whether you decide to buy a house or a condo you’ll find Estately.com is the best search tools to find your next home. You can search for houses or condos by school district, drive times, Walk Score, and more. Estately is simple, easy to use, and it updates every 15 minutes with any new homes put on the market.