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Home or Condo, Where Do You Want to Live?

There are many decisions to be made when choosing a home to buy, beginning with what type of property to live in. The decision to buy a home or condo is a vital first step for many buyers, while others are already limited by the area they've chosen to live in. If you're looking for a home in the Black Forest neighborhood of Colorado Springs, for example, the condominium option is already taken off the table for you, as there are no multi-family homes there. There are distinct advantages and disadvantages to living in either type of home, and making the choice before looking at various homes can really help narrow down a search.

In general, condo or townhome living appeals to younger professionals that want to be close to a downtown area or shopping district, while families typically prefer a single-family house further away from the hustle and bustle of the inner city. Condo dwellers normally live very busy lives, and don't want to be bothered by things like mowing the lawn, painting or replacing malfunctioning appliances. Residents of condominium complexes can expect to pay monthly condo dues which the association will use to take care of most maintenance costs, including many problems that arise inside your condo. Of course, single-family homes in many upscale neighborhoods charge homeowner dues as well, but those are generally earmarked for community amenities such as recreational facilities and security patrols.

Some other things to consider when choosing a property type to search are location, privacy needs, and your budget. As stated earlier, location may dictate what type of property you shop for, as not all areas will have both options. Budget can affect your decision, as well, as condos are generally less expensive than homes. Privacy needs of an individual can make the decision easy, as well, because those who covet their privacy will not want to live in a condo or townhome, where your neighbors are literally just on the other side of your walls. All these factors should be considered by someone shopping for a home, and a decision made before the actual search begins. Omitting half of the options in any search will obviously reduce the time the search takes.

April 10, 2014

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