New Homes and Condos – The Fundamental Difference


There are numerous factors that determine the difference between new homes and condos. Choosing the best residential feature highly depends on your preferred lifestyle. Urban living is almost always equivocal to condo living. Knowing your needs and wants for a residential property mainly determines if a typical house or a condo unit is ideal for you.

The Basics of New Homes and Condos

It is vital to know that both houses and condominiums have varieties of styles and options. Typical houses basically drive the real estate market in the previous years. However, condo conversion projects are now increasing and are taking the country by storm. Ownership of a house or condo is a lucrative investment. Both also have maintenance issues in the long run. Here are some of the distinct features of houses and condos at that set one apart from the other:

About New Houses

Traditional houses offer privacy more than anything. Unlike condo units in high rise residential buildings, typical houses have private yards. Homeowners need not worry about monthly condo fees. There are subdivisions or areas that allow homeowners to do customizations in their property as they see fit. However, homeowners have sole responsibility for all the repair and maintenance in the property. Outdoor maintenance is likewise required in a regular basis to keep your property’s curb appeal. Typical homeowners also enjoy total control in their property within the law.

About Condos

Condominiums are highly recommended for people who prefer small spaces to keep and maintain. High rise residential buildings are strategically located in central urban areas, making condos remarkably accessible to anything. It is the ideal choice for urban living. Young professionals and families that need quick access to work, school, and other establishments benefit from condo locations. The condo association basically takes care of exterior and building maintenance. You can also choose a residential building that shoulders the repair and maintenance of your unit. In most cases, these units have higher monthly condo fees to cover the expenses.

Important Notes

Given the different features of both houses and condos, it is important to note some other factors before making an investment. For prospective condo buyers, some condo associations are strict about having pets inside the building. There are other restrictions in age as well as rental permission.

Buying new homes and condos makes quality financial sense. Check the investment options you have and bear in mind the pros and cons of each housing types.