Tuesday, September 16, 2014

Home Buying Tips: Condo versus House

When it comes to buying a home to settle in, one of the first considerations (once you’ve settled on a community or a city, that is), is whether to buy a condo or a house. Depending on your needs, each has its own set of advantages and disadvantages. Here are some tips to help you make your choice.

One of the most important things to consider is the amount of security you’ll want. Most condominiums have locked front entrances and have private guards stationed in the area. Also, next-door neighbors can easily notice strangers in the vicinity or hallways. Single-family homes are safe in their own right, but security-minded homeowners may have to shell out money to install the appropriate security measures.

Additional facilities are also a factor in choosing between the two. Condominiums can boast several of them including a pool and a gym. If you want a pool in a single-family unit, you will have to build one or buy a home that has one. Some condominiums may have other amenities not available in single-family houses, such as theaters, clubhouses, and ball rooms, among others.

Finally, you’ll have to consider how much freedom you want. Condominiums have strict rules and fees regarding renovations, garbage, and laundry, to name a few. Other condos, however, allow more freedom for owners to customize their units. As a homeowner, on the other hand, you’ll have full control of everything in your property.

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