Should I Buy a House or Condo/Apartment?
Whether you are buying a house or apartment it is important for you to decide what demographics are important? Does an area preserve the value of the asset as well as fit your life needs/goals at the same time? Or is it an area with a 3-bedroom homes building or few condos? Does the current situation in the area impact value of the property or make it hard to sell or rent out in the future? These are one of the most debated questions in real estate that need to be answered. Yes, because selecting one option might seem like a daunting task and we are here to make it easy for you.
Many of us need to make this decision once or several times during our life. What best suits us and our lifestyle in both short term and long term. Nevertheless, let us tell you one thing, though condos come with great revenue, but it’s not true case for everyone. Most probably it is dependent on what your preferences are and through which phase of life you are going.
Pros of Buying Condos
There are various lifestyle-related benefits that come along with purchasing a condo rather than renting. Condos offer less upkeep, look more neoteric and are easily affordable while compromising the privacy at the same time.
These are great solutions for buyers who are chasing the custodian lifestyle. Furthermore, if you are planning to get assistance in maintaining your vacation property, then you can avail vacation property management Cape Cod service.
On the downside, no matter what the layout of condo is, it can never be a house. More than that, you are often too close to your neighbors that would affect your privacy.
What to Look for When Buying a House
On the other hand, owned house offers a lot of freedom and independence when it comes to designing and styling. You can focus on the building décor and features that will give aesthetic look to your home appearance.
Choice is all yours!
Having said that, you really need to understand what does your lifestyle requires and what your budget allows you. Because none of the freedom comes without a price. If we do the fair condo vs house investment comparison, it totally depends on the amenities, and vital services landlord is providing to you. When life is before kids, does the setting of no yard and nice cafes with everything in walking distance suit you? Many folks before kids, or without kids, or older folks who are downsizing may want the apartment lifestyle. It’s because of the luxurious facilities, concierge services, less maintenance and upkeep that apartment/condos offer.
Pros of Buying House
Maybe the purchase of the house is the way to go. Usually with a house you will experience a greater increase in value, or equity, than the apartment. Houses do require more maintenance. The maintenance efforts are usually in the structure itself or the ground that comes with it. Houses do give a greater feel of privacy, space and separation from the neighbors as compared to condos.
Houses are a better investment strategy than condos. With condos there are costs that an owner will have very little control over such as the increasing HOA fees and assessments.
Purchasing a home-whether it’s a condo or a house-will be the one major financial decision you are going to make in your life. Therefore, do some research and take advantage by hiring a trained and knowledgeable Property Manager on Cape Cod. We are always there to help you in Preserving the Asset, Minimizing the Costs, and Maximizing your Income. Call (508-509-4485) Real Property Management Associates on the South Shore and Cape Cod.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
