Is it better to buy a house or a condo? It's a common question that many buyers struggle with. While the idea of owning an entire property and making it your own may seem enticing, there are pros and cons to both that you should consider before you commit.
Picture this: You're locking your front door on your way to the airport. You’re headed to Florence for the week with no concerns about missed packages, snow, or plumbing emergencies.
Now, imagine you're halfway to the airport and you get a text telling you "there's a leak in the roof".
Same budget. Same city. Two very different lifestyles. Which would you choose? That's the question you need to ask yourself when thinking about buying a condo vs a home. In this guide, we'll break down everything you need to know to decide which option better suits your needs and lifestyle.
Think It's Time To Upgrade? You Might Want to Think Again
Should I buy a condo or a house? It seems simple, but it's a decision that shapes everything to come.
Even if you think you know the answer, you may want to consider the pros and cons of condos vs. houses and decide how much responsibility you really want.
According to Mukul Lalchandani, founder of Undivided, "A client of mine was recently ready to upgrade. They owned a gorgeous, top-floor condo. It had everything: tons of light, great views.
But they were thinking, maybe it's time for a townhouse.
With a townhouse vs a condo, you get more space, a backyard, and that feeling of "owning the whole thing."
But then we broke it down. In a townhouse, you're also responsible for the whole thing: the roof, the boiler, the trash, the sidewalk.
One leak. That's your Saturday. A big snowstorm? That's your shovel.
That's when it really clicked for them. Sure, with a condo you're paying HOA fees. But what you're really buying is peace of mind. You're only responsible for what's inside your four walls. I want to take that trip to Florence for a week, just lock the door and go.
For busy professionals, that kind of simplicity is luxury. That's what it really comes down to. Not just space, but freedom. Not just cost, but lifestyle alignment.
So the question isn't: Should I buy a house or a condo? It’s: What kind of lifestyle do you want to buy into?
The Financials: Investing In a Condo vs House
First, the financials. What are you really paying for? Is a condo a good investment? Or is a house a better long-term bet?
A condo means you're paying monthly HOA fees plus your property taxes. With a house, you're covering taxes, insurance, and ongoing maintenance. Which can often come with unexpected surprises…
What kind of surprises? For example, we once had a client who bought a townhome. On paper, the price looked like a steal. However, within 18 months, they spent over $150,000 on roof repairs, plumbing, and waterproofing issues. That great deal quickly turned into a money pit.
While they may look more expensive on paper, one of the advantages of a condominium is the peace of mind that comes with knowing exactly how much you need to cover each month. You're paying for services, structure, and shared responsibility. That cost buys ease.
Condo Appreciation vs. House Appreciation
Do townhomes or condos appreciate faster? That depends. In some areas, townhomes will appreciate faster. But a condominium investment gives you added flexibility. Condos are typically easier to resell. So, the cheaper option can end up costing more over time.
The Lifestyle: Does Buying a Condo Vs a House Make Sense For The Way You Live
Are condominiums worth it? It depends on what kind of life you're actually building. Condos are simple and easy to manage. You have the benefits of amenities, a doorman, and lock-and-leave living.
When you finish work, you can hit the gym in your building and then relax with a glass of wine.
With a house, you get more space and more privacy. But also more responsibility. When you're living in a single-family house vs a condo, your Saturday might be gutter cleaning or waiting for the HVAC repairman.
As one client once told us, "I didn't realize how much work owning a house would be until I missed my condo."
So, if you're debating buying a condo versus buying a house, choose based on how you actually live, not just the square footage you want.
The Location: Is a Condo Vs Home More Convenient?
Location is another important consideration when debating a condo vs. a single-family home or townhome. Condos tend to be in central, walkable neighborhoods. They're often close to everything: restaurants, parks, and work.
Houses are often in the outer boroughs or suburbs. More space means a longer commute. For those who don't work remotely, the extra 90 minutes per day can quickly add up. Even if you're remote now, will that always be the case?
Don't trade daily convenience for a guest bedroom you rarely use. Think carefully about how owning a single-family home vs. a condominium will impact your daily life.
Flexibility and Resale: Is Selling a Condo Easier Than a House?
Flexibility and resale are also important parts of the house vs condo investment debate. What happens when life changes? Condos are easier to rent and resell. You can even use a condo for an investment property and choose to move in whenever it suits you.
Buyers and renters love the convenience, and demand is usually higher in urban markets. It's true that houses offer better customization options. But they also take more time and money to prepare for resale. If you're renovating or renting, it's all on you. So, if your job or family situation changes, that can be a problem. That flexibility often matters more than you think.
Is It Better to Buy a Condo or a House?
So, which is better, a condo or a single-family home? It all depends on who you are and what type of life you live.
Buying a condo is great for:
- First-time buyers
- Investors
- Frequent travelers
- Busy professionals who value convenience and low maintenance
Buying a house is a good option for:
- Families
- Long-term residents
- Multi-generational households
- Buyers who want privacy, space, and customization
Ultimately, there's no right or wrong answer. It's all about what's right for you. But at least now you have clarity on what makes sense for your lifestyle, budget, and long-term goals, whether it's a condo or a house.
That being said, understanding the differences between buying a condo and a house is one thing. But finding the perfect property to suit your goals and lifestyle is another matter entirely. That's where Undivided can help.
