First-Time Homebuyer: Should You Buy A Condo Or A House?

Should You Buy A Condo Or A House?

Being a first-time homebuyer, choosing the type of home to buy may be very challenging irrespective of what you desire.

To answer the question should you buy a condo or a house, it is necessary you know what a condo and a house are and the differences between them both.

This will help you ascertain which to go for as a first time homebuyer.

What Is A Condo

A condominium called a condo is an individual unit within a community of other units. Condo owners jointly own and share a common space, such as swimming pools, garages, elevators, outdoor corridors, and gyms.

While some condos are available in high-rise buildings, you may find condos closed in some markets. 

Typically, the owner is usually the owner of the interior of the condo and parts of the structure of the outer walls.

A condo is basically for first-time homebuyers. The condominium is governed by a board of directors of a condominium corporation.

Unlike owners of free, non-condominium homes, condo owners must adhere to the rules and regulations of the condo corporation.

For example, if you wish to renovate your area, you must seek permission from the condo corporations.

This can also imply that you are not necessarily free to do what pleases you in the condo apartment without seeking approval. 

Read Also How To Buy a Home in an Extreme Seller’s Market

Difference Between A Condo And A House 

There are some differences between a condo and a house. These differences will help you determine if you want to buy a house or a condo as a first time homebuyer.


Even the smallest private house has an outdoor space not included by the condo owners. Homes also often have square images inside, which increases the price and value of the home.

2. Taxes 

The taxes you are to pay for your property are based on your property’s value, so homeowners will probably pay more property taxes than condo owners.

3. Maintenance

This is another area where the house is costly. House maintenance covers more costs than a condo.

On the other hand, Condo owners must pay for maintenance within each unit. Maintenance for the entire building and outdoor or general property is paid indirectly by the Home Owners Association (HOA).

4. Health Owners Association

They also give condo owners an edge regarding repair costs. HOA monthly fees include outdoor maintenance and shared facilities.

The high cost of repairs may pressure homeowners’ finances, while homeowners have lower, common expenses incurred in their HOA payments.

Smaller condo units are less expensive to maintain than large houses in individual obligations.

5.HOA Fee

HOA benefits are not free. Condo owners can expect to pay a monthly HOA fee that increases slightly over time as long as they stay in their homes.

These fees add hundreds of dollars to your monthly income, so don’t just look for a lower condo mortgage loan compared to a house.

Condo Vs House: Do You Prefer A House

Condo Vs House: Do You Prefer A Condo

Things To Consider When Choosing Between Condos And House

Choosing a home to buy is just as emotional as it is a financial decision. Condos and houses offer a completely different life experience, which you should consider before choosing. 

  1. Privacy

If you like the public feeling of seeing your neighbours at HOA meetings and BBQs, a condo would be a good choice.

Being close to other people can make you feel safer for teenagers and adults living alone.

On the other hand, most people appreciate the privacy that comes with a detached house where you do not necessarily have to share anything with neighbors.

  1. Upkeep 

Aside from the actual cost of maintaining and repairing the front cover, home care is time-consuming.

Condo owners do not have to stress about renovating the outer part of the condo because the maintenance by HOA handles it.

Homeowners are responsible for everything that affects their homes and land. This is a benefit or a reward, depending on how easy it is to use or how proud you are of cutting the grass.

  1. Resources

Condos often have luxury facilities such as swimming pools or tennis courts that many single-family homes do not have.

Condo owners pay for this with their HOA fees. If you use them, resources can be a simple help, but you should pay for them even if you do not use them.


Many people find it challenging to choose the type of house they intend to buy, especially when they are first time homebuyers. 

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