A while back, we covered the pros and cons of purchasing a condo instead of a home, and there were some great pros and cons for each. In this blog, we’ll be covering some of the pros and cons of owning your own home instead of a condo in case you may be on the fence between picking one or the other.
Pros of Owning a House
Houses typically offer more square footage than condos, which can be a big advantage if you have a growing family or simply need more room to spread out. Having more space also allows you to create functional spaces you may not have had room to do in a condo, such as a coffee bar or even a home office. You can also get more square footage for your money, and if you’re able to snag a home with a large backyard you’ll have all that outdoor space to work with as well.
Houses also tend to offer more privacy than condos, as they are typically detached from other homes and offer more outdoor space. This sense of privacy can be great, especially if you’re in a condo that does not have great sound suppression in it’s walls, leading to you hearing every conversation your neighbors are having. Not being able to hear your neighbors also allows you to relax and enjoy time to yourself without having to worry about being interrupted by other people.
When you own a house, you can customize and renovate it to your liking as there is no condo association to regulate renovations. This is a very big advantage, especially if your home is outdated and is in need of updates or improvements. You’re also able to freely decorate the exterior of your home, something that isn’t really an option in some condominium complexes.
Potential for Appreciation
One thing we’ve seen in the recent market is that property values have greatly appreciated over the past couple years. Yet, condo values have not appreciated as much or as rapidly as the values on a single-family home. If this trend continues it could give single-family homes a strong advantage over condos in the long run, specifically for resale value when your family decides to move out.
Cons of Owning a House
Depending on the market and location, it should be no surprise that buying a house is most likely going to be more expensive than buying a condo. These expenses are more than just the sticker price of the property, as with a home you are responsible for all repairs and updates. Most condos take care of the repair costs for their residents, which depending on the repair, could be a huge money-saver.
Owning a house also means you’ll have to take care of the standard maintenance and upkeep tasks that condo complex staff typically take care of. These can be simple things like taking the trash out to the curb or shoveling your walkway to more time consuming tasks like landscaping and, if you have a larger yard, mowing the lawn. Most of these are more time consuming than costly, but it’s important to keep them in mind.
Houses don’t typically come with the increased security measures you get in a condo, such as exterior gates and security cameras. You can increase the security of your home by adding things such as exterior cameras, video doorbells, and other home security systems, but these are all extra costs and more time spent installing these features.
We hope these tips and information help you feel more informed in your choice between purchasing a house or a condo. If you’re looking to start your real estate journey, there’s no better place to search for houses and condos than FirstWeber.com. Visit our website today and find the home (or condo) of your dreams!
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