What Type of Home is Best for You? House, Condo or Townhouse?

With several different types of homes to choose from, how do you determine which type of home is right for you? The best way to determine which type of housing is best for you would be to list the advantages and disadvantages of a house vs. condo or condo vs. townhouse, and then make a list of your needs vs. your wants in a home and compare the lists.

House vs. Condo

Living in a condo affords a more leisurely lifestyle where owners don’t have to worry about mowing the lawn, shoveling snow, trimming hedges, or other outdoor chores. Those concerns are taken care of by the condo association. However, the downside of this convenience is that condo owners must pay for this convenience through monthly association fees in addition to any mortgage payments to pay off the condo. Another downside to living in a condo is the close proximity to your neighbors. You will probably be able to hear your neighbors moving around as well as their televisions, stereos, and kids. Living in a house affords a person with more privacy and independence. You will not hear your neighbors through the walls, but any upkeep on the exterior or interior of the home is yours and yours alone to deal with.

Condo vs. Townhouse

In this comparison, condo dwellers enjoy all of the same advantages and disadvantages listed previously with lower maintenance responsibilities, but a slightly higher cost of living.

continued...› | 2/23/2009