When we are planning to buy suitable place for staying then often we get confused whether to buy a house or Condo. There are number of factors that we need to consider to make right purchase decision between house and condo. Both have their pros and cons. However, you must consider the following factors to make the right decision.
What is the cost?
According to a housing expert Rocco Basile, if the house or condo is located in the same prime area then you will get condo at much lower price as compared to any house for sure. Some of the reputed developers will also sell their condo at much affordable price as compared to the house.
These days, by using lots of advanced construction technology the prices of condo have been brought to much lower price and at the same time they have made their living theme very luxurious. You may try in any different cities of the world and you will find the same trend about pricing where condos are available at lower price than house.
You will find most of the condos are only located in prime areas of the city where you can obtain all kinds of city amenities very easily. According to Rocco Basile the same trend can be found in almost any other parts of the world too.
Various other facilities
People who are engaged in high profile jobs would like to live in a place, which is closer to their work place. In that respect, you will notice most of the condos are generally located near the office areas and hence people do not need much time to reach their work place and also the transportation cost is saved.
Besides that, most of these condos provide various facilities like playgrounds, swimming pools, gyms and similar other facilities. In addition to that there is security service available round the clock. Many people can also rent out such condos and generate an extra income for them.
Freedom of space
On the other hand, look at the house where you will get plenty of freedom, as you do not need to share anything with others. After making full payment then you are king of your place. You can live there as long as you wish and nobody is going to evict you from that place. Life of condo is generally about 50 years. The house is a long-term investment that you can pass on to your grand children.
High rise building
Condos are generally high-rise building and hence it will not get submerged under flood waters in case of any natural calamity.
Since both the options have pros and cons, your decision should be based on your own need. If you decide to live in the city permanently then a house would be a better option. If your intention is staying for next 5 to 10 years then condo could be the right choice option. Condo can also be considered if you want to use it for renting.