Condo vs. House: Which is the Right Choice for You?

September 20, 2023

When deciding what type of home to purchase, some questions about condominiums versus stand-alone homes may arise. While both are viable options, there are pros and cons to consider when home buying. 

Whether a condo or stand-alone home, the longer you remain in either, the more equity will build up over time, which can be advantageous for other financial needs in the future. So, what factors should be considered when deciding between a condo or a stand-alone home? The top three to ponder can be narrowed down to affordability, location, and maintenance. 

Affordability: Condominiums are typically cheaper than single-family homes, making them a more affordable way to enter the property market. Because they usually do not include any land and have shared amenities such as pools and common spaces, the price for a condo remains lower than a stand-alone home. 

Stand-alone homes typically have a higher price tag but are usually accompanied by land and private amenities to match the cost. The additional investment may be worth it to someone looking to stay in the area longer and potentially grow a family, as stand-alone homes provide privacy and growth opportunities that condominiums may not.

Location: Condominiums are often located in desirable areas like city centers or near the beach, which can be more expensive if you buy a stand-alone house. These smaller, more compact homes can allow individuals or families to stay close to attractive locations without the high price tag. 

However, investing in a stand-alone home close to a popular location can be a great compromise. Accessibility to nearby hotspots like shopping and other recreational activities can allow individuals to buy stand-alone homes without breaking the bank. It all comes down to how convenient and affordable the homes in the area are. 

Maintenance: Homeowners Association (HOA) fees are standard for condo owners, but they typically cover the cost of maintenance and repairs for the building and communal areas. The HOA fee usually covers lawn care, snow removal, and exterior upkeep. It’s essential to get the details of the fees and the guidelines that the HOA requires. 

Stand-alone homes may not come with HOA fees, but they often provide more space outdoors, which could require more regular maintenance. Lawn care, snow removal, and even gutter maintenance take both time and financial investments, but with diligence and care, keeping up with them can help maintain the home’s value. 

If you’re considering purchasing a home, visit my website at or call me at 717-253-3259.