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

Should You Buy A Condo Or A House?
Written by Peace

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

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

  • When looking to buy your first home, whether you wish to buy a house or condo depends on what you want in the area or property, and what is available in that region you seek to buy a property. And then, the value is probably one of the most important.
  • If you are looking for a home that will accommodate a growing family, pets that need outdoor time, one or two cars, and you like ​​having an open garden and yard, a house might be the best option.
  • However, owning a home means having to cover expenses and eliminate maintenance problems such as repairing a leaky roof or plumbing or hiring someone else to do it for you. In the condo, those heads are all owned by you.
  • Houses in cities like Toronto or Vancouver can be expensive for beginners, yet they may not be as expensive as the condo. A home will best suit your lifestyle if you want to live in an urban area.
  • The house is also a good choice if you want some freedom to make external changes and landscapes because condos often have strict rules about changing the outward appearance of the units.

Condo Vs House: Do You Prefer A Condo

  • Finding money to buy your first home in urban centres can be challenging, especially as prices continue to rise yearly. But suppose you like urban resources and a fast-paced lifestyle and are determined to become a homeowner in a metropolitan area. The money you need in advance to buy a condominium will usually be less than you need to buy a house.
  • Condos can be an excellent choice for those new homeowners who want to avoid building maintenance problems and who are not interested in the restrictions / exterior upgrades that come with condos. They are also a great choice for busy, healthy buyers and those who are comfortable with a small living space, close neighbors, a small balcony, or no outdoor private space.
  • Note: while you will find condominium projects in suburban areas, consider the potential to resale these condos. Unless you plan to stay in your first home for a long time, you will have to ask real estate sellers the price of a condo in the market before putting it up for sale. 
  • You should note that the maintenance charge is included in your loan mortgage plan and can reduce the amount of housing you qualify for.

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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