{"id":20966,"date":"2022-05-09T08:00:00","date_gmt":"2022-05-09T12:00:00","guid":{"rendered":"https:\/\/www.zolo.ca\/blog\/?p=20966"},"modified":"2022-05-10T15:08:33","modified_gmt":"2022-05-10T19:08:33","slug":"condo-vs-house","status":"publish","type":"post","link":"https:\/\/www.zolo.ca\/blog\/condo-vs-house","title":{"rendered":"Condo Vs. House: Which One Should You Buy?"},"content":{"rendered":"\n\n\n<p>There are lots of options when you start buying a home. Aside from location and budget, the type of property you choose can be one of the most critical decisions. The most common choice is between a traditional single-family house or a condominium\u2014the ongoing condo vs house debate.&nbsp;<\/p>\n\n\n\n<p>In most cases, buying a house means you purchase a structure that you live in as well as ownership and rights to the land the property sits on. <\/p>\n\n\n\n<p>A condo purchase includes only the living space\u2014the inside of the condo unit\u2014and a portion of the common areas included in the condo building or complex, but not the land.&nbsp;<\/p>\n\n\n\n<p>There are advantages and disadvantages to both types of housing. Many of these pros and cons of the condo vs house decision will change. This depends on the lifestyle you desire and your overall housing budget. <\/p>\n\n\n\n<section class=\"bg-white border-t border-b border-blacklight my-12 md:my-16 sticky md:relative top-0 md:top-auto z-10 md:z-auto alignwide  wp-block-zolo-block-toc \" aria-hidden=\"true\"><div class=\"wrapper relative max-w-2xl mx-auto md:py-8 flex flex-col flex-shrink-0 max-h-screen md:max-h-none\"><input type=\"checkbox\" id=\"toc-toggle\" class=\"hidden\"\/><label for=\"toc-toggle\" class=\"flex justify-between cursor-pointer md:cursor-auto py-4\"><div class=\"toc-title leading-normal font-medium m-0\">In this article<\/div><svg class=\"w-6 h-6 fill-current text-blue md:hidden transition-transform duration-150 ease-in-out\" viewbox=\"0 0 24 24\"><path d=\"M22 12c0-5.5-4.5-10-10-10S2 6.5 2 12s4.5 10 10 10 10-4.5 10-10zM6.9 10.9l1.4-1.4 3.7 3.7 3.7-3.7 1.4 1.4L12 16l-5.1-5.1z\"><\/path><\/svg><\/label><nav id=\"toc-nav\" class=\"zolo-toc-nav max-h-0 md:max-h-full overflow-y-auto scrollbar-hidden overscroll-none\"><ul class=\"zolo-toc-list my-4\"><li><a class=\"entry-title no-underline hover:underline\" href=\"##1.-purchase-price\">#1. Purchase Price<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"##2.-maintenance-costs\">#2. Maintenance Costs<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"##3.-privacy-or-community\">#3. Privacy or Community<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"##4.-commute-and-amenities\">#4. Commute and Amenities<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"#why-are-condos-better-than-houses?\">Why Are Condos Better Than Houses?<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"#why-are-houses-better-than-condos?\">Why Are Houses Better Than Condos?<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"#final-thoughts\">Final Thoughts<\/a><\/li><\/ul><\/nav><\/div><\/section>\n\n\n\n<p>To help, here are four factors to consider when deciding between a condo vs house. In the end, it&#8217;s your home and you need to buy the right type of property for you, your family and your lifestyle.  <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"#1.-purchase-price\">#1. Purchase Price<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2022\/02\/the-cost-to-rent-or-buy-in-2022-1024x683.jpg\" alt=\"a woman stares at receipts while working on a calculator\" class=\"wp-image-20526\"\/><\/figure>\n\n\n\n<p>A condo is usually less expensive to buy than a single-family house. One big reason for the price difference is that condos typically do not include land the property sits on as part of the purchase. Another reason for the price difference is that in most cases, condos offer less living space square footage than houses.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"<strong&gt;condo-vs-house:-purchase-price-rule-of-thumb<\/strong&gt;\"><strong>Condo vs House: Purchase Price Rule of Thumb<\/strong><\/h4>\n\n\n\n<p>Condos are typically less expensive than houses.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"#2.-maintenance-costs\">#2. Maintenance Costs<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2018\/10\/Inspecting-pipes-drains-plumbing-Zolo-home-maintenance-1024x683.jpg\" alt=\"Inspecting pipes drains plumbing Zolo home maintenance\" class=\"wp-image-8788\"\/><\/figure>\n\n\n\n<p>Whether you own a house or a condo, there are always ongoing maintenance, upkeep and utility costs.&nbsp;<\/p>\n\n\n\n<p>For condo owners, maintenance costs are paid through mandatory monthly fees. These maintenance fees, also known as association fees or strata fees, must be paid by each unitholder. The calculation of these fees is determined by several factors, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The location<\/li><li>Age of the building<\/li><li>Type and quantity of shared amenities<\/li><li>The size of your condo unit<\/li><\/ul>\n\n\n\n<section class=\"wp-block-zolo-related flex items-center py-6 leading-tight border-t border-b border-blacklight undefined\"><p class=\"font-serif pr-6 md:pr-12 mr-6 md:flex-shrink-0 border-r border-blacklight\">Related content<\/p><p class=\"related-link w-full my-0\"><a href=\"https:\/\/www.zolo.ca\/blog\/condo-maintenance-fees\">Guide to Condo Maintenance Fees<\/a><\/p><\/section>\n\n\n\n<p>There is an advantage in that these monthly fees allow condo owners some certainty when budgeting for maintenance and repairs. Plus, there is an advantage of pooling the resources and needs of many condo-dwellers. It will enable the condo board\u2014the group responsible for setting the maintenance budget and assigning the job contracts\u2014a chance to negotiate better per square foot maintenance and repair costs.&nbsp;&nbsp;<\/p>\n\n\n\n<p>On the flipside, house owners don\u2019t have to pay a specific amount each month. They have more say on what, when, and where to spend their maintenance budget; however, they also face more uncertainty regarding the budgeting of ongoing house maintenance and repair costs.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"<strong&gt;condo-vs-house:-maintenance-costs-rule-of-thumb<\/strong&gt;\"><strong>Condo vs House: Maintenance Costs Rule of Thumb<\/strong><\/h4>\n\n\n\n<p>Condos maintenance costs are more predictable and stable, making it easier to budget. House maintenance costs are more uncertain, but the homeowner has more say in where and when to spend the money.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"#3.-privacy-or-community\">#3. Privacy or Community<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2020\/10\/where-to-find-sustainable-homes-1024x683.jpg\" alt=\"house with a gate and fencing\" class=\"wp-image-15888\"\/><\/figure>\n\n\n\n<p>When buying a home, you are also buying into the neighbourhood and community. For some homebuyers, the ability to set down roots, make friends with neighbours and develop a life within the community is a critical advantage of becoming a homeowner. For others, the draw is to enjoy private space without engaging with the outside world.&nbsp;<\/p>\n\n\n\n<p>In most cases, if you value the ability to decide how to decorate, modify or update your living space and the surrounding property, a house is a better fit. It usually provides more privacy, but there are no condo rules to comply with when it comes to adding features, amenities, or updating decor. As long as you adhere to local zoning and bylaws, you are free to update and modify your property and the house.&nbsp;<\/p>\n\n\n\n<p>Keep in mind that the increased privacy and autonomy that comes with a house also comes at an increased cost as you pay for the luxury of owning those four walls.<\/p>\n\n\n\n<p>While not all condo owners are friendly and not all condo buildings offer social interaction among unitholders, by and large, there is a greater opportunity to engage and get to know your condo neighbours. Some buildings and condo complexes even offer social nights and monthly events. These activities are designed to bring neighbours to interact with one another and build community within the building.&nbsp;<\/p>\n\n\n\n<p>This closeness can be an advantage for condo dwellers. For instance, if you were to leave town and need someone to keep an eye on your place, you\u2019ll have more peace of mind knowing your neighbours are keeping watch.&nbsp;<\/p>\n\n\n\n<p>However, you will be restricted to what colour you can paint your unit, what type of renovation updates and remodels you will be allowed to make and whether or not you can keep certain items on outside structures, such as balconies or patios. That\u2019s because most condo buildings have rules about what can be hung or stored outside your unit. The same goes for modifications you are allowed to make to the inside of your unit.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"<strong&gt;condo-vs-house:-privacy-or-community-rule-of-thumb<\/strong&gt;\"><strong>Condo vs House: Privacy or Community Rule of Thumb<\/strong><\/h4>\n\n\n\n<p>Houses offer more autonomy and privacy, but you\u2019ll need to work harder to get to know your neighbours and develop a community you can rely upon. Condos typically offer more significant opportunities to build a community you can socialize and trust. Still, you won\u2019t have as much freedom to alter decor or update and remodel.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"#4.-commute-and-amenities\">#4. Commute and Amenities<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2021\/10\/charity-home-lottery-win-car-1024x683.jpg\" alt=\"commute\" class=\"wp-image-19309\"\/><\/figure>\n\n\n\n<p>Condos are smaller, making it much easier to pack many units in one building. This density makes condo buildings more cost-effective to build in more sought-after locations, such as a city\u2019s downtown core or amenity-rich neighbourhoods.&nbsp;<\/p>\n\n\n\n<p>As a result, condo owners are often much closer to amenities, public transit, cultural activities, shopping, entertainment, and even job opportunities. It also means that most condo owners have shorter commutes to work and school when compared to house owners, who more typically live in further afield communities and suburbs.<\/p>\n\n\n\n<p>Another advantage of condo living is that the building or complex often includes amenities that can be cost-prohibitive for those living in houses. For instance, many condo buildings have indoor pools and saunas, full exercise gyms, game rooms, pool tables, and even large-capacity theatre rooms. It doesn\u2019t end there, either. These days some condos offer tennis courts, private rooftop terraces, party-size BBQs, and even golf courses. To add these amenities to a house would require a lot of upfront costs and increased annual maintenance and utility bills. While many condo owners don\u2019t have to leave the property to access these amenities, most house owners have to commute to public facilities to get access.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"<strong&gt;condo-vs-house:-commute-&amp;-amenities-rule-of-thumb<\/strong&gt;\"><strong>Condo vs House: Commute &amp; Amenities Rule of Thumb<\/strong><\/h4>\n\n\n\n<p>Condo living typically offers better access to transit, work opportunities, and other amenities, as well as a greater chance of accessing higher-cost lifestyle amenities, such as indoor pools.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why-are-condos-better-than-houses?\">Why Are Condos Better Than Houses?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"640\" height=\"427\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2018\/11\/602-118-yorkville-ave-toronto-c4193667-photo-1.jpg\" alt=\"Investment properties may not qualify for capital gains taxes when resold\" class=\"wp-image-9635\"\/><\/figure>\n\n\n\n<p>Most condo dwellers choose this type of property because of its location.&nbsp;<\/p>\n\n\n\n<p>A resurgence in downtown living and a desire for a car-less lifestyle means that condos in large, popular urban neighbourhoods remain popular. It&#8217;s one of the reasons why <a href=\"https:\/\/www.zolo.ca\/index.php?sarea=Hamilton&amp;filter=1\">Hamilton<\/a>, Ont. became so popular with first-time buyers over the last half-decade. It&#8217;s also why major urban centres, such as <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\">Toronto<\/a> and <a href=\"https:\/\/www.zolo.ca\/vancouver-real-estate\">Vancouver<\/a>, continue to see strong sales activity even when markets start to slow. <\/p>\n\n\n\n<p>Add in the resort-like amenities, such as pools and tennis courts, which are cost-prohibitive in a house, and condo ownership becomes an attractive choice.&nbsp;<\/p>\n\n\n\n<p>Suppose you\u2019re looking for convenient property ownership and provide a low-maintenance lifestyle. In that case, condos are a perfect choice. In addition, the transparent and consistent calculation of their monthly maintenance fees makes it easier for condo owners to budget ongoing housing costs.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why-are-houses-better-than-condos?\">Why Are Houses Better Than Condos?<\/h2>\n\n\n\n<p>One of the most important and attractive qualities of buying a house is total control over the property. You can choose to remodel, redecorate and even renovate. You don\u2019t have to ask for the permission of boards or neighbours. This is assuming you are not going against zoning and municipal bylaws.&nbsp;<\/p>\n\n\n\n<p>Another advantage of buying a house is that this property type usually offers square footage for living and outdoor space. This extra space typically means a house is more adaptable to changing family dynamics and needs; plus, it provides more privacy.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final-thoughts\">Final Thoughts<\/h2>\n\n\n\n<p>While condos are often less costly and more hands-off than houses, houses offer homebuyers more autonomy, privacy and space; however, that comes at a higher cost.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Condo vs House \u2014 What property type should you buy?  \u2014 Zolo\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/4jdnAA0Eoog?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>To choose between a condo or house consider these 4 factors<\/p>\n","protected":false},"author":3,"featured_media":20967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"guide":[],"class_list":["post-20966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying"],"acf":[],"zolo_excerpt":"","_links":{"self":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/20966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/comments?post=20966"}],"version-history":[{"count":3,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/20966\/revisions"}],"predecessor-version":[{"id":21009,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/20966\/revisions\/21009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media\/20967"}],"wp:attachment":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media?parent=20966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/categories?post=20966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/tags?post=20966"},{"taxonomy":"guide","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/guide?post=20966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}