House vs Condo: Which Is a Better Buy for Empty Nesters?

What could be more relaxing than coming home after a long day and having the entire place for yourself? The bigger the space, the better, right? Not really. While it’s true that single-family homes give you more freedom and privacy than an apartment, a condo is easier to maintain. It also provides lower costs, making it ideal for empty nesters. There is a lot to say when it comes to the house vs condo debate as both options have pros and cons. Choosing one over another comes down to your lifestyle. The price matters too, but it’s not the most important factor.

Feeling confused? Use this guide to decide whether you should buy a condo or a house!

Pros and Cons of House Ownership

The median price for a house in the U.S. was $218,000 in 2018. If you live in a popular location, expect to pay well over $300,000 on a new home. Not to mention California — where the average home price is a whopping $713,000. If you would like to live in year-round sunshine, you can expect to pay approximately $235,500 on an average for a new home in Florida. The Sunshine state often sees many Californians, where the average home price is $713,000, make the jump the east coast so they can keep the gorgeous weather but leave their high taxes behind.

Purchasing a home is just the first step. You also need to consider the long-term costs of homeownership. Taxes, repairs, and landscape maintenance are just a few to mention.

If you live alone, you may want to think twice before buying a house. Owning your own home makes you responsible for roof and leak repairs, maintaining landscaping, cleaning the pool, and the list goes on.

A house also offers more privacy than a condominium. Imagine waking up and drinking your coffee on your lanai or front porch while enjoying the fresh air.

Some condos offer these perks too — many can offer the same freedoms and flexibilities that a single family home can while offering low maintenance.

Are Condos a Better Option?

Condos are not necessarily cheaper than a house. A one-bedroom apartment in Allston-Brighton, Boston, for example, can exceed $400,000. It all comes to the property’s location, size, and amenities. (remove mention of Boston) While condominiums may not be cheaper than a house due to the location, floorplan size, and amenities, there are many positive features you get that don’t come with a single family home.

Compared to a house, a condo is easier to maintain and may involve lower costs. You don’t have to worry about fixing the roof, cleaning the pool, taking care of the landscape, and so onbecause they are built into your HOA and/or CDD fees.

This property shares common areas, such as a pool or gym, with other residences. Condo owners pay monthly fees to enjoy these perks. They also have access to premium amenities like 24/7 security, spa centers, game nights, and more.

If you’re an empty nester, you might feel lonely or bored. If you are an empty nester, living in a condominium can be the perfect place to make new friends through the social activities held in the clubhouse, relaxing by the pool, or a new workout partner in the community gym.

Living in a condo community makes everything easier. You will never feel bored or lonely as there is always something going on.

House vs. Condo: Which One Is Right for You?

Both types of properties have their perks, but that decision is ultimately up to you!

So, are you ready to decide? If you’re looking for the most luxurious condos in Bradenton, Florida, check out our properties! Contact us for more photos and resources.

2019-09-20T16:10:41+00:00