Town home, apartment, or house? It’s a question many first-time home buyers face first!
When looking for your next move, it’s hard to know what’s right for you, your family, and your pets! I find that clients often go back and forth on what type of housing will provide the best means for them, so I have outlined what I find to be the pros and cons to each. Now granted, we can always go walk through anything, but this guide can help narrow down what you’re looking for, so when we find that magical, perfect place to call home, we can hop on it!
Condo
Pros
Convenience
- Condos usually have the lowest maintenance because everything can *usually* be handled for you! Leaky roof? Don’t worry about that, the handyman is on his way!
- They are also typically maintained by your HOA’s (Homeowners Association) so you don’t have to worry about purchasing that lawn mower or weed eater!
- Also, if there is an HOA, you can count on your neighborhood always looking spiffy and cleaned up!
- They are also great options for older homeowners, those who travel, or overall just want lower maintenance in general.
- Overall, you own the inside walls of the condo.
Amenities
- Condos usually have a pool, gym, dog park, and other amenities that are included in your purchase price.
- They also might have daily trash pick up, which is super handy.
Safety
- Many condos have security when you pull into the property. There is either a guard gate or key code to help stop intruders from possibly lurking through your development.
Price
- Honestly, this is what it comes down to, right? For a lot of first time home buyers, a condo can be on the lower end of a budget. They are typically in great areas close to shops, restaurants, and more for a great price.
Cons
Restrictions
- Since there is such an appeal to keeping everything consistent and clean in the neighborhood, you can be restricted to what you can do to the exterior of your condo.
- External appearance such as painting or lawn care will be kept to a community standard.
HOA Fees
- Some can get a little pricey, but worth it if you’re fan of the convenience!
Privacy
- You could potentially have neighbors all around you – above, below, and side-to-side. If you’re looking to have some space these might not be the right fit for you!
Smaller Outdoor Space
- If you’re looking for a large yard, these are not for you. However, some may come with a small fenced-in yard or porch.
Townhome
Pros
Convenience
- Townhomes will also have low maintenance because of the size of your structure and yard.
- There might also be an HOA fee, so your neighborhood will always look maintained.
- Overall, you own the structure on the outside and the inside!
Amenities
- Similar to a condo, townhomes may have the extra amenities included in the purchase price.
Safety
- Some townhomes have a guard gate or key code that will also add that extra step of security!
Price
- Townhomes fall in the middle of the price point when looking to buy. Much like their size, they are a bit bigger than a condo but still smaller than a home. Therefore, right in the middle.
Cons
Restrictions
- Just like a condo, the vibe to keep everything consistent and clean in the neighborhood could potentially prevent you from having your own flair on the external appearance.
Privacy
- Townhomes are usually built attached to one another, so you’re typically wall-to-wall with your neighbors. Therefore they provide a bit more privacy than in a condo, but possibly still not enough.
Smaller Outdoor Space
- Again, if you’re looking for a yard, these might not be for you. However, some may come with a small fenced-in yard or porch.
House
Pros
FREEDOM!
- When you purchase a home, you have the freedom to decorate, maintain, and do whatever you like to your home. (Unless you must adhere to an HOA – which I will get to later.)
Privacy
- A single family house does not share walls with neighbors, meaning you will definitely have more privacy.
Yard
- Most houses also have a yard, which is a fantastic plus for pets and kids!
Cons
Maintenance
- While you do have the freedom, owning a home does mean you are responsible for all maintenance repairs, etc. Think HVAC, appliances, lawn care, etc.
HOA
- This could be a pro or a con, depending on how you view it. They can help keep your neighborhood looking great, or they can be an extra expense you are not willing to spend.
Each type of property has it’s pros and cons, and if you have any questions I am happy to talk through them all with you! House hunting can be fun, and it’s good to be informed on what type of housing you are looking to purchase before diving into the market. I hope this has been helpful, and let’s set up some tours!
