:-) the pros & cons of owning a single family dwelling versus a condo!

[lynn_ha]

the pros & cons of owning a single family dwelling versus a condo!
If you have a single family dwelling you have to be a handy-man/woman with lots of outside work to do!
Owning a condo/apartment saves you lots of grounds work but yeah got to pay the condo fees!

What's your choice, do the yard work yourself or pay the condo fees?

 

[bazokajoe]

The outdoor work really isn't that bad. One of the benefits of owning a house vs a condo or renting an apartment is if your neighbour is a chain smoker it won't affect you. Having a BBQ anytime(I assume most condos and new apartments don't even have a balcony,or if they do it's not allowed).
Could never live in an apartment or condo. But if I live long enough I am sure it will happen due to health issues that come with age.

 

[Occasionally]

I've lived in both. Pros and cons to both, but as a whole your own home is better.

I'l' hire contractors to do the major renos, but for stuff like yard work and winter hassles, I'll do that myself.

Changing from a condo years back to a home took some adjusting, but it's worth it..... especially the $$$ part.

Looking back, long time condo users or renters have thrown away lots of cash.

I also find living in a home has friendlier neighbours. You'd think living in a building with 100s of units would lead to lots of friends and chit chat. Not really. Everyone keeps to themselves and getting a "hey how are you" in the elevator is basically all you get from 99% of people. After a two line boring reply, everyone then stares at the elevator and can't wait to bolt out the door. Living among good neighbours, you chat on the street, in the driveway, people help each other move stuff or mow each other's lawns etc..... Much friendlier and helpful.

The first time I moved to a home, someone saw I was pulling out the driveway and he waved me over and introduced himself as someone a few doors down. Nice guy.

Move into a condo, and nobody gives a shit or introduces themselves even though many people see you moving in using the elevators.

 

[k57]

Most new condos have very little living space ... developers want to maximize profits ...so square footage of condos continues to get smaller ....I would suspect that from a financial point of view you will get a better return selling a house than a condo ... Plus when I do shopping (such a large amount of groceries) I would dread having to drag them from the car and up an elevator, have to use those dorky 'bundle buggies' and if you have only outdoor parking, BRRRRR on cold winter days!!!!!

 

[Occasionally]

Most new condos have very little living space ... developers want to maximize profits ...so square footage of condos continues to get smaller ....I would suspect that from a financial point of view you will get a better return selling a house than a condo ... Plus when I do shopping (such a large amount of groceries) I would dread having to drag them from the car and up an elevator, have to use those dorky 'bundle buggies' and if you have only outdoor parking, BRRRRR on cold winter days!!!!!

Another thing about condos, many of them have no balconies, or very small balconies. Not sure why that is. You'd think builders would make nice big balconies like older apartments and condos and just bump up the price a bit. The condo markets are so hot it's not like an extra bit of money for a nice big balcony would deter buyers.

I guess people don't care about fresh air.

Another thing is many of them (even with balconies) don't allow balcony BBQing. I lived in a condo years back that allowed it. Everyone had a gas line hook up.

 

[Occasionally]

Most new condos have very little living space ... developers want to maximize profits ...so square footage of condos continues to get smaller ....I would suspect that from a financial point of view you will get a better return selling a house than a condo ... Plus when I do shopping (such a large amount of groceries) I would dread having to drag them from the car and up an elevator, have to use those dorky 'bundle buggies' and if you have only outdoor parking, BRRRRR on cold winter days!!!!!

It's actually not bad. I never had outdoor condo parking. Underground parking is pretty good sometimes since you never get affected by rain and snow.

The biggest hassle is distance. Having a parking spot far from the elevators and pushing all your groceries or stuff on a cart. Or pushing/carrying a load of bulky gear to your locker which can be far too.

 

[explorerzip]

IMO, the biggest con of condos is that your fees (depending on the building) are going towards things you seldom if ever use like the gym, pool, guest suite, etc. Those fees are almost guaranteed to go up whenever there are needed repairs. You also have to deal with a board that might have a bunch of nitwits in it.

Depending on where the building is located (next to the highway or railway tracks) it might not be practical to have balconies because you wouldn't be able to use it. You are trading the "luxury" of a balcony with being close to transit so you don't need a car. The same also applies for shopping. If your building is located near shopping areas you could buy groceries every day or eat out.

 

[superstar_88]

IMO, the biggest con of condos is that your fees (depending on the building) are going towards things you seldom if ever use like the gym, pool, guest suite, etc. Those fees are almost guaranteed to go up whenever there are needed repairs. You also have to deal with a board that might have a bunch of nitwits in it.

Depending on where the building is located (next to the highway or railway tracks) it might not be practical to have balconies because you wouldn't be able to use it. You are trading the "luxury" of a balcony with being close to transit so you don't need a car. The same also applies for shopping. If your building is located near shopping areas you could buy groceries every day or eat out.

Well I use the gym so those that don't are subsidizing me. Ever look at it that way. It is not throwing money away. My time and effort is money whereas you choose to do yardwork while I get to enjoy my leisure

 

[Smallcock]

I don't have a family so I live in a condo. Lived on my own in a house for several years - too much space and upkeep when you're the only one living there. In the condo I have no yard work, plenty of space but no rooms that don't go unused, gym and pool in the building so no excuse not to stay in shape, convenience of shopping or eating out at my doorstep, and underground parking that keeps the snow and miscreants off the car.

I do miss the luxury of space offered by the house (though it's a waste for one person), having a driveway to just pull up in to get into the place (i.e. no elevators), and the backyard and bbq, but my current lifestyle tips condo living in my favor.

Condo fees do suck and maintenance on the house is much cheaper than what I pay in condo fees each year.

 

[explorerzip]

Well I use the gym so those that don't are subsidizing me. Ever look at it that way. It is not throwing money away. My time and effort is money whereas you choose to do yardwork while I get to enjoy my leisure

Of course you are not throwing money because you are making use of the facilities. That isn't true for people that seldom use the facilities and are subsidizing you. They would be spending money on things they seldom use or throwing money away. IMO, it's an ever bigger waste if you have such facilities in your neighborhood.

A homeowner can pay someone to maintain their lawn, which realistically doesn't have to be done that often. Besides, the front and back lawns in new subdivision are so ridiculously small that it takes minutes to do. The same goes for snow removal and if you live outside the downtown core the sidewalks are plowed for you. Homeowners can negotiate directly with the contractor. You have no say on who does the work when you're in a condo.

All this being said, I do agree with Occasionally that there are pros and cons to both. If you value amenities and use them often, prefer paying someone else to maintain your place then a condo makes sense or if you value living close to work then a condo makes sense. If you value more control over your place and being able to renovate it to potentially increase it's value, then a single family home maybe better for you.

 

[lynn_ha]

I don't have a family so I live in a condo. Lived on my own in a house for several years - too much space and upkeep when you're the only one living there. In the condo I have no yard work, plenty of space but no rooms that don't go unused, gym and pool in the building so no excuse not to stay in shape, convenience of shopping or eating out at my doorstep, and underground parking that keeps the snow and miscreants off the car.

I do miss the luxury of space offered by the house (though it's a waste for one person), having a driveway to just pull up in to get into the place (i.e. no elevators), and the backyard and bbq, but my current lifestyle tips condo living in my favor.

Condo fees do suck and maintenance on the house is much cheaper than what I pay in condo fees each year.

Smallcock, makes perfect sense that condo living best suites your needs! When I was living in Mississauga I also lived in a condo & felt the condo fees & the extra assessment because of the reserve fund was low was low added a lot of extra expenses to live there. It would have been cheaper to own a house & hire the work done!

 

[richaceg]

Owning a home. better value for your property and if we're talking about leisure facilities...go to your local community center and most facilities don't cost more thant $5 to use...basketball gym, fitness gym, swimming pools etc etc. Step out of your door and run around the block...no elevators which is great when doing groceries...I know most condo owners would always swear the convenience weigh more...no yard work, no shovelling / snow removal...i will take that when early morning summer i can bask in my own front lawn watching early morning joggers in yoga pants...

 

[explorerzip]

Owning a home. better value for your property and if we're talking about leisure facilities...go to your local community center and most facilities don't cost more thant $5 to use...basketball gym, fitness gym, swimming pools etc etc. Step out of your door and run around the block...no elevators which is great when doing groceries...I know most condo owners would always swear the convenience weigh more...no yard work, no shovelling / snow removal...i will take that when early morning summer i can bask in my own front lawn watching early morning joggers in yoga pants...

As with anything else, it depends. If the condo is in a newer development where there are few facilities like community centers, pool, gym, etc. or they are located a fair distance away, then it might be worthwhile to pay the fees to have them inside the building. It might not be worthwhile if your building is in a mature neighborhood where you have easier access to those facilities. As before, it depends on how much you use said facilities.