House vs. Condo: 3 Things To Consider Before You Buy

If you’re planning to raise a family, or just simply set down roots for a job or other long-term obligation, you may be looking to ditch your apartment for a new living space to accommodate your expanding needs. But which should you pick: condominium or single-family house? New condo launch 2023 can help you provide more detials about it and also considering the cost, EasyPreCon provides economical pre construction condos in Toronto.

Consider Guidelines

Condos have a homeowner’s association that dictates how and when you can use public spaces—and sometimes even private ones. For instance, if you have a condo with a patio and want to put up a bird feeder outside your window, it may be rejected because it attracts pests like rats and mice—or simply because it doesn’t fit with guidelines about presentation.

Single-family houses come with more freedom, but they also come with more work. You can put up that bird feeder, but you also have to clean the gutters, patch the missing shingles on your roof and rake the leaves.

Consider Cost

Condos cost less than single-family houses in similar neighborhoods, as does the homeowner’s insurance associated with them. But what’s saved there may be lost on homeowner’s association fees. The bright side is that these fees cover building maintenance and other services. For instance, the Solow Building Company, owned by Stefan Soloviev, goes the extra mile and offers 24-hour concierge service.

Single-family houses tend to cost more across the board. Since you’re responsible for the entire structure and property, homeowner’s insurance for single-family homes is more expensive than that of condos and you will also have to pay more property taxes. However, if you need more space for home offices, guest rooms or playrooms, a single-family house may be necessary for your family.

Consider Community

A condo is, by its nature, part of a larger community. The social atmosphere can be a little more close-knit than your average neighborhood, as you’re all living closer together and sharing resources such as courtyards, pools or gyms. This might sound great to a social butterfly, but it could also sound like an obstacle course if you want to avoid seeing people.

Single-family houses are individual units. If you live somewhere rural, your closest neighbor could be, literally, a mile away. Even if your situation isn’t quite that extreme, you have a private yard and a buffer of personal space between you and other residents in your neighborhood. The drawback is that it can get lonely, and there is less security.

Both options come with perks and pitfalls. Neither option is wrong, just different.

Also Read: How to Do a Full House Remodel for Your Growing Family