San Diego realtor Jeremy Mchone explains why it may be more beneficial to buy a condo when in the market to buy.

Why You Should Consider a Condo Over Buying a Home

I'm Jeremy McHone with the Whissel Realty Group and I want to discuss three reasons why it might be a better idea to buy a condo instead of a house. And the first reason is obviously condos tend to be more affordable. Not just that, though, a lot of people's end goal is to be in a house and they think that they should save up a down payment until they have enough to put down on that house.

And what they don't realize is that they could start with a condo, get used to the monthly payment of the condo, and at the same time will be paying down a loan on it and building equity. And down the line, when they're ready, then you can sell that condo, use the equity that you just cashed out of it to put as a down payment for a house. And a lot of times you can get that down payment for the house a lot quicker through the equity of a condo than just by saving while you're renting at the same time.

That's the first reason. The next reason why it might be a better idea to buy a condo over a house is maintenance. A lot of people don't want to pay an HOA fee for a condo or a townhome, but what they don't realize is that that small fee every month is going to look very valuable when it comes time to make a big expenditure, like replacing a roof or replacing stucco. Now, if you own a house and you're responsible for the maintenance of that house, when that roof leaks, that 20, $30,000 roof replacement, that's on you and that's a big expenditure.

Whereas if you were in a condo or a townhome, that would be something that the HOA had to take care of. So the maintenance fees in a house are a lot higher than a condo and that's something to think about and consider, especially if you're not the type of person that likes to maintain things yourself. If you don't like mowing lawns, doing landscaping, and maintaining a home, then a condo might be for you. The third thing to think about, and the reason why it might be better to buy a condo over a house is amenities.

If you're buying a condo, it's a lot easier to have some really nice amenities at an affordable price. Whereas if you were to buy a house that had, say, a pool and a spa and a gym and a sauna, that would be a really expensive house. But you can find a lot of those really nice amenities in very affordable condos. If you're weighing buying a condo versus buying a house, there's a lot of factors to take into consideration, but I'd love to discuss it with you so we can have a really good idea of what the pros and cons are. So you like to talk more about it, or you're weighing the two options, drop a comment below, send me a DM, or just shoot me a call or a text to the number below. Thank you.

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