Buying a home is one of the biggest and most important decisions you’ll ever make. Whether you are a first-time buyer, or a veteran homeowner looking to trade up or make a new start, you will inevitably be faced with a number of questions. Your answers will lead you to the home that’s right for you.
One of the most fundamental questions all homeowners face is whether to buy a condo or single family house. There are advantages and disadvantages of each and only you can know what’s right for you.
For Boston newlyweds Michelle and Kevin Millsom, 31 and 36, it was an easy decision. With high-powered financial careers and no children, they were drawn to the excitement of the city and wanted their fingers on the pulse. They bought a penthouse apartment with a breathtaking view of Boston’s famous esplanade and Charles River.
“We enjoy everything the city has to offer—the restaurants, theatre, outdoor concerts. We walk everywhere and find the easy access to the airport to be a plus since we travel frequently for work,” said Kevin. “When we have children, we may think about a house in the suburbs, but for now this is where we want to be.”
Like all things, living in the heart of the city comes with tradeoffs. For the price of their two-bedroom/
What is most important to you? Give consideration to the following:
Location – Where do you want to be? Are there options for both condos and single-family houses in this area?
Privacy – Is it important to you to have complete privacy or do you find close neighbors to be a comfort?
Responsibility – Do you need total control over decisions affecting your home or are you attracted to the idea of sharing decision-making with your neighbors?
Maintenance – Are you a homebody who enjoys getting dirty in the yard or are you delighted with the idea of never having to cut a blade of grass again?
Budget – How much do you have to spend? Depending on where you want to live, a condo may be the only option that meets your budget.
These considerations and others will help you determine the best choice for you now. And just remember, if your interests and priorities change in the years ahead, you can always sell your home and make a move, this time with experience as your guide.
Original content by Melissa Paul at Realtor.com