Choosing Which Home is Best for You

When it comes to buying a home, one thing you need to consider is what is your best option: townhouse vs condo vs house? Each have their own pros and cons and you need to decide what best fits your lifestyle.

houses-691586_640As you first decide which option is best for you and your family, consider: your location and lifestyle; maintenance costs; rules of ownership; lending and price; and monthly fees.

If you are a first-time home-buyer, you may not want to responsibilities or have the time for home maintenance. A condo or townhouse may be the perfect option for first-time buyers because association fees cover maintenance and repairs. In addition, condos and townhouses are more preferable for those who aren’t interested in homeowner responsibilities or yard care.

A downside of condos and townhouses are you have little control over annual fee increases and unforeseen special assessments.Although condos and townhouses can have assessment fees, single-family homes can have their share repairs that can hit the owner with a large bill.

In the end, you will need to weigh the pros and cons associated with each option and decide which best fits your lifestyle and future goals.