Okotoks Real Estate

JMRT  BLOG

Info, tips & advice relating to the Calgary & Okotoks
real estate market presented by The Jay Magnussen Real Estate Team

Award winning Okotoks realtor

     

Start searching homes now with Interactive Google Maps! Search Now!

 
Back to Blog

Deciding whether to purchase a house or purchase a condo has been a dilemma among first time homebuyers.

 

Here is a quick breakdown of the pros and cons of both choices:

Condominiums

Pros:

  1. Opportunity to live in a high-profile neighborhood; areas where houses are usually unaffordable, such as the downtown core or entertainment district.
  2. Great selection of amenities offered with condominiums; pools, gyms and party spaces being a few examples.
  3. No hassles of many property maintenance tasks; no need to cut the lawn, take care of curb appeal or do any building maintenance. These should all covered by the maintenance fee
  4. Support from building management for repairs and fixes.
  5. Security and peace of mind, especially when travelling.
  6. Depending on the building, sometimes utilities are covered with the condo maintenance fee.

Cons:

  1. Condo maintenance fees, on top of taxes and such, can become expensive.
  2. Depending on location, living space can limit growth, especially if a homebuyer wants to raise a family.
  3. You need management/builder approval for major property changes, which can be a tedious process.
  4. No real opportunity for an income property. 

Houses

Pros:

  1. More bang for your buck, with greater living space.
  2. Potential for growing and renovating the property, especially when the homebuyer has a growing family
  3. Depending on location, properties come with great backyards which can serve for entertainment purposes and a space for kids to play.
  4. Potential for an income property.

Cons:

  1. Homebuyer is responsible for maintaining the property, including taking care of the lawn, property maintenance and much more – this can become tedious and very expensive.
  2. Utilities are the homebuyers responsibility.
  3. Purchasing a house in a high-profile neighborhood is very expensive – thus, homebuyers need to move further away, creating the need for everyday transportation.
  4. Unless a part of a gate community or in an area where local services like neighborhood watch are in effect, security can be a big question.

If you are juggling the ideas of buying a home versus buying a condo and you feel you could benefit from some more advice please feel free to contact our Okotoks real estate team or contact our Calgary real estate team - we can offer insights into the two different markets and have Calgary experts who can help you select the perfect neighbourhood / community for your needs. 

Comments

No comments

Post Your Comment:

*indicates required fields.
Your Name:*
Please note, your email will not be shown publicly
Your Email (will not be published):*
Comment:*
Please type the text as it appears above:
Blogs
Posts By Date
Categories
Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.