House vs Condo

Find out which is cheaper to own: a house or condo. If you have always been a renter, it can be tricky to decide whether buying a house or a condo is right for you. There are benefits for each one.

If you like living in urban areas or close to the city center, a condo might be a better choice for you. Condos are typically close to downtown restaurants, public transportation, and shopping. Condos also beat out houses for being low maintenance. If you don’t like the idea of mowing the lawn or shoveling the snow, condo maintenance fees can go toward lawn care, snow removal, pool maintenance and other amenities. However, when it comes to monthly fees, condo maintenance fees can increase sporadically. So, if you are stretched for cash, you might end up going over budget some months.

In addition, many condos have an application fee and a security deposit for having pets. For this reason, a house might be better for you. Additionally, if you like to have more privacy and space, a house might be more your style. Condos often have walls that connect with your neighbor. When looking to buy a place, weigh the pros and cons of each and decide which best fits your lifestyle.