So, it’s finally time for you to stop renting, join the Edmonton-home-owners-society. Sure, sounds exciting! But here’s one of the burning questions that other would-be Edmonton home owners like to be answered; what is better, owning a condo or a house?
Today, we’d like to kick off Monday by finally putting our own two-cents into the answer-bucket.
Note: Remember to check out the newly listed Homes For Sale in Edmonton through the Edmonton MLS Listings.
Okay, both real estate properties offer pros and cons. Let’s break it down here.
LOCATION. LOCATION. LOCATION. Condominiums are often located close or inside the city of Edmonton itself, which is good if you do not wish to commute, while houses are usually built with a little distance from the central business district, which is great If you’d like to move-away from the hassle and bustle after work.
FLOOR SPACE. Most (but not all) condo developments are built with limited floor space, since, like what we have mentioned above, it’s often located inside the city. The main idea for a condo development to is to maximize the space so if you don’t mind living a few floors above the ground, this is might just right for you.
Houses are built outwards, to occupy more ground so if you’re priority is to have more leg room for the growing family, then this is the one you may have to consider.
FINANCE. Condo homes always come with monthly or quarterly fees. These fees cover the payment for the building insurance, maintenance, landscaping, snow removal and many other things. Some people prefer it this way, for them not to worry about any of the mentioned issues.
Houses on the other hand are FREE from any association fees. You are on your own.
HOMEOWNERS ASSOCIATIONS. If you chose to live in a condo, you will have to be covered by the rules and regulations set forth by the home owners association (HOA). There are certain situation where owners of a house are also governed by the rules of the HOA… this is mostly when the house is located inside a posh neighborhood.
PRIVACY. Houses have greater advantage over this part of the business. Most of the houses in Edmonton are surrounded by fences to keep away unwanted attention from unwanted visitors. In condominium, it’s not so. Condo owners share the building with other people.
The advantage of a condominium comes from the perks; sauna, pool, gym, etc. This would cost a pretty for a private individual living in a bungalow.
LET’S END THIS ARTICLE WITH EXPENSE. Buying [mid-end] condominiums are cheaper than buying houses. Condominiums are typically considered as entry-level homes, whiles houses are marketed towards the older crowd.
At the end of the day, it will all boil down to what your priorities are; Cost and/or Convenience?
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