Are you a single professional who is thinking of buying his or her very first property? Or someone who is planning to get married and start building a family? Whoever you are and whatever you do, you got the freedom to chase your dreams and to have your very own place.
However, choosing whether to invest in a house or a condominium could be admittedly confusing and overwhelming. That is why we’re here to help you out. Keep reading to help you decide which investment is best for you and your needs:
First, let us discuss why investing in a house is better than availing of a condominium. Here is a list of the reasons why:
If you want to own a real estate property, then you have to acquire land rights. On the other hand, owning condominium units does not grant you land rights since, technically, you just own a portion of a building.
However, you can acquire land rights by owning houses. The property would then be used however you want it to be: you can build a private pool, backyard garden, or even fully customize your front lawn as long as it is still within your property.
Besides these, acquiring land rights also gives you a huge advantage in having a safe space for you and your children to bond together.
Condominiums require uniformity. That is why if you want to express more through decorating your own place, you should choose a house over a condo. By owning a house, you don’t need to follow lame color schemes. You can paint it with whatever color you like and customize it in any way you want!
Unlike a condominium, a house is a better choice for someone who aims to have a big family. As your family grows, you can also grow your home. This thing is very unlikely or impossible to do with a condo unit. If you choose a studio unit, then you are stuck forever with that space.
Detached houses are easier to sell than condominium units. People only buy condos so they can be closer to bustling city hubs, and some even consider purchasing a condo to help in beating the traffic towards work. But, condos are only bought in thriving markets and have low liquidity in other markets.
Detached houses, on the other hand, are more liquid in any market. It can be personalized as the owner would see fit. Unlike in condos, which promotes uniformity, you could basically customize it with detached houses provided that you own the property.
Also, detached houses can be quicker to sell, unlike condos, which can take up to 2 years or more if a lot of owners start selling their units also. If condo owners cannot sell it quickly, they resort to lease or rent agreements with other parties to monetize their condominium units.
Getting a condominium unit is a better choice if you work in the Metropolitan area and not opt for a bigger space. Having a nearby place will be far easier than surging through the traffic every day of your life. Plus, you know that you are well-secured as there are many security guards on duty for 24 hours every day. There are also CCTV cameras installed in each corner, so not anyone can enter the premises. You can also have free access to amenities such as swimming pools, a gym, and many more, depending on your developer.
We believe that the choice is not ours to make; it is all yours. You know your needs more than we do. We’re just here to help you differentiate the perks that you will get. So either a house or a condominium, it will be totally worth investing in if it fits your needs!
Interested in getting a house in Moore, Oklahoma? Read ”The Complete Guide to Buying a House in Moore Oklahoma” to learn more.