Buying a condo or a house: How to make your choice?

Buying a condo or a house: How to make your choice?

Wednesday 15 November, 2017

Every year, many Quebeckers hesitate when it comes to buying a house or a condo. Since each of these acquisitions brings different benefits, what elements should be used to make the right choice?


The maintenance of these properties

First, homeowners or condo owners must do some work to properly maintain their property. The time to be granted is then the main factor to be assessed when choosing.

The maintenance of a house requires more time, since it is necessary to pay a particular attention to the external works. However, homeowners can hire a company that will take care of:

  • snow removal of entrances;
  • mowing the lawn and general maintenance of the land;
  • maintenance of the pool, the spa;
  • the preparation of the property for the winter.

Note that despite the maintenance, having your own land is at the same time a great advantage.

The condo, meanwhile, does not require any outside maintenance. For those who wish to have more free time, the balance often leans in this direction. Co-owners pay monthly condo fees. Part of this amount is used to hire a company that takes care of the maintenance of the building. They take care of mowing the lawn, washing the parking lot, cleaning the common areas and clearing snow in the winter.

Condo living often allows you to enjoy the same benefits (courtyard, balcony, pool). The big difference is the commonality of leisure spaces, and the fact that their maintenance is the responsibility of a third party.


The expenses related to these properties

In order to make the right decision, future owners must also learn about the different costs that these properties require.

The costs of buying a house or condo are similar in many respects. For each of these acquisitions, the owners will have to pay:

  • Mortgage related to the property;
  • Different taxes;
  • The initial down payment;
  • Notary fees.

Do not forget to buy a house, better to provide an amount for the purchase of outdoor maintenance equipment (lawnmower, snowblower, etc.).

As for the condo, co-owners must provide a monthly amount allocated to condo fees. These provide among other things an emergency fund over the years for the maintenance and repair of the building.


To preserve intimacy

Many people choose to buy a house to preserve their privacy. This allows to have a property located on private land, in addition to having a backyard.

However, staying in a condo does not necessarily mean no longer having private space. Many companies offer perfectly insulated condos with their own balconies. Only when using the related services, such as the terrace, the fitness center or the swimming pool, the co-owners come together and take advantage of them to develop their neighbourhood.

Townhouses can also be a good choice for people who want to live in a condo, while maintaining some aspects of a home.

Développement Métrocité offer new condos for sale and for rent on the North Shore of Montreal. Contact them today to find out more about their quality, affordable housing and close to all services.


Do not hesitate to contact the sales manager, Mr Paul Alexandre at (450) 600-2171 to find out more about all the advantages that these high quality new homes can offer at a competitive price.

 

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