3 Advantages Of Buying A Single-Family Home Instead Of A Condo
Are you trying to decide whether to buy a single-family home or a condo? This can be a tough choice, and both options are good in many ways; however, here are three advantages you will receive if you choose a single-family home instead of a condo:
No monthly HOA fee
The first difference is that condos have monthly fees you must pay to the homeowner's association (HOA). The HOA is a controlling entity of the community in which the condo is in, and this organization uses the fees to pay for repairs and maintenance of common areas and exteriors of the homes.
With a single-family home, you will not have to pay this fee, unless you purchase a home located in a community with an HOA. Most single family homes for sale are not in communities with HOAs, though.
Fewer rules and restrictions
Secondly, when you purchase a single-family home, the community you live in may have a lot fewer rules and restrictions compared to the community a condo is located in. When there is an HOA involved, you are tied to very strict rules and regulations. The HOA has these rules to keep the community nice and well-maintained, but the rules are often very strict. For example, some HOAs limit the type and number of flowers homeowners can plant in their yards.
When you purchase a single-family home, the community might have covenants, but they are not likely to be as strict. This means that you will have more freedom and flexibility if you choose a single-family home over a condo.
More privacy
Finally, single-family homes offer a lot more privacy than condos. Condos are typically attached to other homes, which is why they are called multi-family homes. In fact, the building that a condo is located in might have 12 homes in it. This means that you will be sharing certain space with 11 other families.
If you are looking for a home with privacy, choosing a single-family home will offer more of this. As you search for homes to buy, you can tell your agent you are looking for a home with a lot of privacy. Your agent will be able to locate a lot of homes that offer large yards, fences, or other types of features that make them more private and secluded from other homes.
If you are interested in shopping for a home to buy, contact a real estate agent. An agent can set up viewings for condos or single-family homes in your area.