There are a lot of things to consider when you’re thinking about purchasing real estate, and one of the big debates is whether you should purchase a house or a condo. Both options have their advantages and disadvantages but depending on your situation there may be one option that works better for you. Listed below are some pros and cons of owning a condo compared to owning your own home.
Pros of a Condo
Ease of Maintenance
In most cases, a maintenance crew may be on-site that handles all the repairs within the complex. This saves you the hassle and cost of having to either do the repairs yourself or having to call a repairperson to come out and assess the damage. If the complex you’re looking into doesn’t have its own maintenance crew they may have preferred vendors for you to use, which may come with a discount on their repair services.
More Amenities for Less
Another massively attractive feature of living in a condo is the sprawl of amenities that can be available on-site. Depending on how much you’re willing to spend, you should be able to find a complex that has some of the most popular amenities such as a pool, on-site gym, underground parking garage, and more. Typically, you’ll be able to find a condo for less than if you wanted to purchase a house with an in-ground pool and a lower level with space for a home gym. You may also be able to get more up-to-date appliances in a condo without having to shell out the cost you would have to if you owned your own house.
Cons of a Condo
One of the first cons that come to most people’s minds when they think about condos is the condo fees that come with owning your unit. These fees cover things such as utilities, trash pickup, and more, but depending on the complex these fees could add a substantial cost on top of your existing mortgage payment. If the condo fees for most places are too high, it can severely limit your options when searching for one to buy.
Compared to living in your own detached home, condos provide a much smaller sense of privacy. In most cases, you’ll have neighbors on either side of you, as well as potentially above and below you. This can prove to be a nuisance, especially if your neighbors like to be loud during all hours of the day and night. Detached homes also have the benefit of potentially coming with a fenced-in yard, which gives you a great private outdoor space right in your own backyard.
While these are only a few pros and cons of living in a condo, they should help to give you a better idea of what comes with purchasing a condo instead of a house. If you’re interested in purchasing a condo, check out our property search on firstweber.com to find a condo that fits your needs, and reach out to one of your local First Weber agents to learn more about the buying process.
Founded in 1971, First Weber Realtors® is a part of HomeServices of America, the nation’s largest provider of total home services. With 70 offices and more than 1,400 real estate professionals, First Weber is consistently number one in Wisconsin for unit sales and real estate sales volume. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com