Homes vs condo: which property type is right for you?

Not sure which type of property to buy? If you’re moving to Washington State, there are many condos and homes for sale readily available in Wenatchee, Leavenworth, Cashmere and Lake Chelan.

Consider these pros and cons to help you decide between buying a home or a condominium.

Cost

A condominium is generally less expensive than a house. On top of that, you get to enjoy concierge services as well as maintenance and upkeep that all fall under the homeowners association’s to-do list. You can easily get assistance from the concierge and have repairs done quickly. If you have a busy lifestyle, you would save a lot of time from not having to do your own maintenance and upkeep by living in a condominium.

Privacy

Condominiums feature shared amenities such as a swimming pool, gym, and park. While condominiums give open access to state-of-the-art facilities, they are in fact for everyone’s use, so expect to run into neighbors from time to time. If you are a person who prefers a more reserved environment, then a condominium might not be for you.

Location

Condominiums are situated in downtown areas that are in close proximity to shopping centers and recreational areas. If you live in a condominium, you get to enjoy easy access to malls and several dining and entertainment options every day. On the other hand, if you’re buying a house, neighborhoods are situated in distant suburbs, which means a longer commute downtown. Depending on your lifestyle and factors such as your job, family, and social life, location is something worth considering when choosing the type of real estate to buy.

Space

Condominiums are generally smaller compared to a house, on top of living restrictions such as the number of people allowed to reside in a condo unit. If you have a big family or if you are thinking of starting a family, then it may be more valuable to buy a house to have enough room. Space is also a big factor to consider for individuals or families looking to own their dream home, where they will have the luxury of bigger, private living spaces to dine and entertain guests.

Design restrictions

Some real estate buyers prefer buying a house because they can design it to their heart’s desire. If this is one of your priorities, then a house is the way to go. Imagine designing your dream home — everything from the interior design down to the landscaping can be dictated by you. Homeowners associations do have strict limitations on what improvements or renovations you can do with your condo unit, so you can’t expect much if you prefer designing and personalizing your living spaces.

Resale value

Generally, it takes longer to resell a condominium, especially if multiple units are currently being sold or rented out in your community. Condos are quite uniform in look and size so there’s not much differentiation or wow factors to set your unit apart.

Find the perfect home

Speak to our team at Coldwell Banker Cascade Real Estate to find some of the best homes and condos for sale around Washington. Call us at 509.888.8887 or email us at info(at)cbcascade(dotted)com to get started on finding your ideal home.