So, you want to live on your own; you are too old to share the place with roommates or your parents any longer, but you haven’t decided where to live. Choosing a real estate property is one of the most important and difficult choices in everyone’s life. Everyone has a different lifestyle, habits, wishes… In accordance with our wishes, interests and abilities we are trying to create and organize our own lives in the best possible way. But, should you choose a house, apartment or condo? Check out the pros and cons.
Regardless of which of the three options above you chose, each of them has its pros and cons. To realize which option is the best for you, smart thing would be to compare them through several universal parameters.
Condo: Living in a condo doesn’t involve a big commitment when it comes to keeping your living space well maintained. Keeping your condo clean and tidy is easy, fast and convenient. However, living in a condo involves dealing with other tenants when it comes to maintaining the mutual parts of the building (hallways, lights, heating …).
Apartment: To maintain your apartment, you will need as much time and money as for maintaining the condo. But the big difference between condo and apartment is that you wouldn’t have to worry about the common parts of the building, if you chose the apartment, because there are none. The building is owned by one owner, who is leasing the apartments and taking care of its maintenance.
Condo and apartment: Your financial possibilities and individual choices are crucial for the level of comfort in the apartment or a condo. However, given that residential buildings are mainly located close to all necessary facilities, a gym, shop, park, market and other necessary facilities will be at your hand which is great comfort is to have. Bear in mind that if you chose the apartment or a condo, you will need to have consideration for other tenants and will have to reduce the noise and partying to a minimum.
House: The house is definitely the queen of comfort. Besides the fact that you can customize it and adjust it to your own requirements and preferences, you will be able to fully enjoy the privacy and peace. Also, you can enjoy the fresh air in your own backyard, save money if you make your house earth friendly and have any pet you want.
Condo: Condo is an ideal choice for those who lead an active life, regardless of whether it is a family or a single person. People who choose to live in the condo are usually those who spend a lot of time outside, working, traveling or enjoying the various events and outdoor activities.
Apartment: Ask yourself: ”How long am I going to stay in this city”? If you buy, you are attached to the location and it is important to know for how long you are planning to stay at one place. The real estate market is characterized by low flexibility lately and buying a real estate to own it for a few years is not a profitable investment. You should know that buying a property includes a number of other costs, taxes, real estate agency fees, etc. Overall, in the short term, that is less than 10 years (especially if your property is financed by loans), renting an apartment is always cheaper and smarter option.
House: The house is the ideal choice for people who like to spend time at home with maximum privacy. House gives a lot of freedom. Large spaces, privacy, nature, doing your favorite hobby in a workshop or a garage, uninterrupted playing or listening to music are just some of the privileges that homeowners have. If you’re thinking about starting a family, this is definitely the best option for you.
With such important decisions, you need to realistically and objectively view the situation, evaluate your own capabilities, your lifestyle, needs and goals in life. If you think it through carefully, I’m sure you will make the right choice, if you are not sure – lease the apartment.