Choosing between a condo and a home with land – whether it’s a large yard or acres of land – isn’t always a simple option. There is no one-size-fits-all solution, and you must select a home that fits your lifestyle and preferences. Both kinds of houses have their advantages and disadvantages.
Typically, owning landed property involves considerably more upkeep labour than living in a condo. You are not responsible for maintaining the building or property in a condo: you are not required to grow flowers, paint the façade, or mow the lawn. When you own a property, you are responsible for yard work and exterior home care as well as pemasangan sistem saliran bumbung, which means you must invest in the appropriate tools and equipment.
However, if you have pets or children, having your own outside area is desirable. In both housing choices, you are often responsible for inside maintenance, such as appliance repair.
Condos have a disadvantage: noise from nextdoor residents. On the plus side, you’re surrounded by individuals who share your interests, and you can cooperate to make the condo complex a welcoming and pleasant place to live. With landed property, your neighbours may be far and difficult to get to know. However, living in a stand-alone home usually provides greater privacy.
While you are not responsible for building maintenance or landscaping when you reside in a condo, you are required to pay monthly association fees to guarantee the building, grounds, and amenities get appropriate care. Although the costs may be more, you may have access to additional amenities such as pools, hot tubs, and exercise facilities.
Depending on the size and location of the condo complex, parking may be limited, necessitating the payment of extra monthly fees for a parking space in the garage or outdoor parking lot. Parking is generally not an issue with single-family home ownership, since the majority of homes have driveways or garages.
When it comes to resale value, there is no standard-size answer for any condominium or land lot. It varies according to the local market. While detached houses continue to do well on the resale market in certain areas, condos continue to outperform in others. If you’re considering selling again in a few years, speak with a local real estate professional about the current market or forecasts for the near future.
When looking for condominiums to resale in a few years, seek for complexes that remain virtually full due to the increased number of owners sharing the cost of maintaining the building and facilities. For land, seek for properties in attractive school districts and areas with minimal foreclosures and consistent resale values.