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6 Ways to Decide: Condo or Single-Family Home?

6 Ways to Decide: Condo or Single-Family Home?

Prudential Bishop Realty Condo vs. Home

Whether you are an experienced homeowner or a first-time homebuyer, making the decision to purchase a new home is a big deal. Many factors come into play – location, price, amenities, proximity to work, school districts, homeowner’s associations, and more. When we are working with clients in Homestead, Florida City and neighboring communities, one of the most important decisions we see our buyers make is the choice between a single-family home and a condominium or townhouse.

For many, the decision between a condo and a house can be a struggle, so we’ve put together this list to help you narrow down your search for the perfect piece of South Florida real estate.

Here are 6 factors to consider when choosing between a condo and a home in South Florida (or anywhere):

  1. Location – Where do you want to live? Are there affordable condo and home options in your target area? Do you want to walk to a coffee shop each morning? If you know you want to live in a downtown, expensive area and you have a tight budget, a condominium may be your best option.

  1. Privacy – Is it important for you to have a lot of privacy? Do you mind hearing neighbors walk past your front door? Do you want to socialize and make new friends in your community? If you enjoy having close neighbors to borrow a cup of sugar, you may want to consider a condo or townhome.

  1. Responsibility – Is it important for you to have complete control over every decision affecting your home? Or do you find comfort in the idea of being part of a community making decisions together? If you enjoy the idea of group decisions, a community with a homeowner’s association is a great idea for you.

  2. Maintenance – Do you enjoy having your own garden in the side yard? Or do you love having a yard that looks great and requires no effort on your part? If gardening is an important part of your life, it may be difficult to consider anything except a single-family home.

  3. Budget – How much do you want to spend on your new home? Price may be a deciding factor if you can find a cheaper condo than single-family home in your desired location. But don’t forget to factor in homeowner’s association fees. In some cases, the added HOA fees can make a seemingly inexpensive condo a less affordable option than a single-family home with no homeowner’s association.

  4. Amenities – Is a 24-hour concierge important to you? How about ocean views, valet service, a butler at the pool or on-site tennis courts? If these things are valued, a condominium may be the best to fit your needs.

The most important way to choose between a condo and house is to work with an expert. Someone that is familiar with every condo development and every single-family community in the area will be prepared to help you make the decision that suits your needs and desires in the best way possible. Give us a call or shoot us an email to learn more about how we can help you. (305) 246-3000 or r_bishop6@bellsouth.net.

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