Single Family Home or Condo?

If you're thinking about making a move, are you considering buying a condominium or a single-family home?

.
The number of condominium owners has risen dramatically in the last few years. Condos are a popular option because they are often more affordable, require fewer maintenance and landscaping chores, suit busy lifestyles, and serve well as a first home or downsizing from a larger house. Here are some differences to consider:
.
Condos
• There are usually fewer maintenance requirements.
• They can be less expensive than a single-family home.
• You own the space between the walls.
• There may be more security with neighbors close by.
• The exterior of the building, landscaping, surrounding roads, driveways and
common areas are owned by the condo association, a group made up of all
unit owners.
• Special assessments by the association for painting or repairs can add
significant expense.
.
Single-Family Homes
• They usually offer more storage space.
• You own the interior as well as the exterior.
• You have to do the maintenance, landscaping and repairs.
• Unless you live in a gated community, you don't have condo association dues.
• You don't have to worry about special assessments.
• You have room to grow plants, flowers, trees, veggies, etc.
.
Look at your lifestyle and consider how your household may change over the next few years. Will you have enough space in a condo? Or will you be happier in a house with room for a garden?