Should you buy a condo or a house?

by | Jul 5, 2016 | Real Estate

Owning real estate is the ultimate goal for millions of Americans. Owning your own dwelling is a true sign of success – a message to everyone that you’ve made it in life. For many, owning a detached home is preferable over owning a condo; but today’s condominiums, such as luxury condos in San Francisco and other urban centers, offer a host of benefits and amenities that detached homes can’t match.

Buying a house

A detached home gives you privacy, a sense of pride knowing you own a bigger piece of real estate and plenty of space, even if you choose to live in the city. With a home, you own the entire space, land included. You don’t have to worry about things like condo fees, but you are responsible for maintaining your entire property, including lawn care, windows, roof, furnace, etc. This can get costly, especially as your home ages.

If your home is located on the outskirts of a major city, there are commuting costs to consider, as well as the inconvenience of errands such as groceries, entertainment, etc.

Buying a condo

Luxury condos in San Francisco and other areas can also give you pride of ownership. While you don’t ‘own’ the outside of the dwelling, you don’t have to worry about replacing major components of your home such as windows and roof. You don’t have any lawn maintenance to worry about, as everything is done for you. There is a condo fee you will have to pay each month, but most condo owners agree that the benefits far outweigh the cost. Condo ownership also comes with many perks, such as on-site spa, games room, gym, pool, 24 hour security and more. When it comes to home ownership, both homes and condos can offer many benefits. If you love the idea of living a luxurious lifestyle with little maintenance to worry about, consider buying a luxury condo.

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