Buy a House or a Condo in EdmontonIf you’re looking at condo listings in Central Edmonton, you will come across many different property types, all with various features and sizes. Now, you must be thinking if you should buy a condo or a house? Well, keep reading and decide for yourself.
You may consider one that is close to downtown or one that has a swimming pool or one on the outskirts and has a fenced yard. But what are the factors in deciding? Let’s take an in-depth look at both types of housing and find out which might be better for you and your family!
Understanding what a house is?
A house is a free-standing residence with four outer walls and multiple rooms as per your preference. The houses for sale in Northeast Edmonton usually have a yard in the front or back. The house owner also owns the land and any other structures like a detached garage or a utility storage room on the property.
In some Northeast Edmonton places, you can also find row houses built side-to-side on these small plots. A more typical but suburban home is an oversized lot with a couple of trees and a huge lawn to do any recreational activity.
Understanding what a condo is?
A condo, also known as the condominium, is like an apartment. It is in a shared building or a complex, and it’s usually built with lesser square footag.
Mostly, the condo board or, in some places, the homeowner’s association owns and maintains the exterior of the building structure. Every condo complex has different amenities like a parking lot, underground garages, swimming pools, clubs, and a gym, depending on their size and location.
Research done by the real estate association shows that Condos are the first choice for first-time homebuyers and investors because it is less expensive than a house. Still, you do have to pay attention to those maintenance charges.
You have to understand that the cost of any real estate is not limited to the listing price. There is homeowner’s insurance, property taxes, mortgage insurance in some cases, and possibly HOA mandatory fees.
Understanding the Condo Costs
A condo is mostly less expensive compared to the houses for sale in Northeast Edmonton. The maintenance of condos is comparatively cheap. You are only responsible for your home’s interior, so you do not have to worry about landscaping or the building’s exteriors. The condo board or HOA takes care of those.
Almost all the condos take an HOA fee.
HOA's add-on services include doorkeepers, swimming pools, recreational parks, gym, parking garages, small storage units, and security.
The conclusion is that make sure you understand and calculate the costs associated along with the condo listings in central Edmonton before you buy one.
Understanding the House Costs
So, a detached single-family home is slightly more expensive than a condo because of several factors.
First of all, they are more prominent, and when you own a house, you own the land.
Insurance is slightly expensive for a house as you will be insuring the complete property. You will also need to take care of things like landscaping and other maintenance factors.
At the same time, your kids will have a big yard to play safely in front of you. The advantages are unlimited when you buy a home.
In the long term, the cost appraisal is more for all the houses for sale in Northeast Edmonton. As the family grows, people need to buy bigger houses, which is why the demand is ever increasing.
So, go ahead and check out the houses for sale in Northeast Edmonton.
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