Compare Condominium Living to Single Family Home
Which is better for you?
Advantages of Condominium Living
More free time
The association / property management company relieve you of many outside tasks that would otherwise consume your leisure time. No more lawn mowing nor mower maintenance. No more snow shoveling nor snow thrower maintenance. No pruning, mulching, weeding, planting, fence painting, gutter cleaning, etc. All handled for you.
Social opportunities
Many communities provide social activities such as games, traveling, parties, tennis, swimming pool areas, meeting rooms, workout facilities, and more. You may prefer to sit out, but if you are seeking a social life within your residence community, condominiums are far more likely to provide opportunities than are single family neighborhoods.
Security
Some condominium owners seek a sense of security beyond that which they encountered in a single family neighborhood. In many communities the density of living units per acre is greater than in single family neighborhoods and the owners tend to watch out for each other and know who is coming and leaving. The added security may result from knowing someone is living very close by if you need assistance.
Economics
In many situations the cost of ownership is less in a condominium than a single family home. Heating and cooling costs tend to be lower because of units being attached. The condominium fee often includes water, sewer and trash and insurance of the building. Further economies may result from the association´s ability to negotiate lower costs of services by representing many homeowners vs. a person buying services for single family home. Some examples are landscape / lawn care, snow removal and exterior repairs.
Investment protection
Unlike single family neighborhoods, the condominium community will change in value as a community and not as a result of any one single homeowner´s actions. The standardization of outdoor maintenance programs results in the community maintaining a consistent look, whereas a neglected home in a single family neighborhood might impact the value of neighboring homes. The uniformity and consistency of a condominium community will help establish a consistent resale appeal and resulting value.