House vs Condo Buying Considerations You Should Think About

Yard

House

You have a lawn to mow, leaves to rake, and landscaping.

Condo

There’s no yard work but you’ll pay a fee for the association to handle all of the yard work, and possibly the landscaping.

Lending

House

Obtaining a mortgage for a house can be straight forward with a lot of lending options.

Condo

Some condos are not FHA approved, which can result in limited loan options, especially if you have a small down payment.

Location

House

Houses are normally located in more suburban areas, meaning you may have to drive further to get places but this also can mean more privacy.

Condo

Condos are located in more urban areas and usually within walking distance to shops and restaurants. Usually have less privacy.

Cost

House

It depends on the area and square footage but houses tend to cost more because they normally have more square footage. This means both the purchase price and the utility bill can tend to be higher.

Condo

Condos usually have less square footage which means they’re normally cheaper to buy and maintain, but you’ll pay a monthly or annual association fee.