Condos vs Houses, Which one is Right for You?

The Geography Factor
Some areas, specifically rural areas, simply do not possess a considerable quantity of condominiums to make that option a viable consideration. Other areas, like Brand-new York or other densely populated urban areas offer a short supply of single-family homes. Suburban markets for instance Huntington Beach supply a large selection of options for both houses and condos. Presently there are approximately an equal quantity of houses and condos for sale in the Huntington Seaside real estate market. An extra geographic factor to consider is proximity to work, shopping and schools. Senior people who no longer drive might be much happier in a condo near to all than in a single-family home in a secluded area.

Lifestyle Factors

The choice between a condo and a home is influenced by your step of life. A young couple, just beginning out and with limited funds and no plans for starting a family might locate a condo the better option. A condominium could be just the ticket, too, for the empty nesters who look forward to a place with less maintenance and yard work. The single-family house option has strong appeal to families in the little one raising step of life. A detached home with a yard and perhaps even a pool has benefits for families with kids who need room to play. Apart from family size, from time to time attitudes towards maintenance, preservation and yard work will factor in the decision to buy a house or a condo. Another factor to think about is amenities. Some condo complexes supply swimming pools and possibly tennis courts that may be very difficult to afford when purchasing a single-family house.

Investment Potential

Condos and single-family houses both respond to market situations. When pricing is rising they both appreciate in value. When rates fall, both lose value. On the entire, in a suburban area such as Huntington Seaside, condos tend to be less expensive to purchase than single-family homes but both respond to market fluctuations. For example, in the Huntington Seaside real-estate market since the 1st of the year 279 single-family houses have sold. The average sales rate was $704,638. The maximum price level for a home sold during that period was $3,500,000 and the minimum sales price range was $240,000. During that same period, 180 condominiums sold for an average rate of $347,917. The maximum cost for a condo sold during that period was =$1,175,000 and the minimum charge was $60,000. These figures show a fantastic variety in both homes and condos with each supplying high-end, moderate and low priced options. For those who can?t think of $240,000 for a home as being low price , don?t forget that Huntington Seaside is right on the coast in Southern California.

Georgette Adanas has been writing content articles on Huntington Beach condos for sale since 2001.

Source: http://answers.beatthebrochure.com/condos-vs-houses-which-one-is-right-for-you/24709

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