Condos vs Houses, Which one is Right for You? ? Pranab Roy

The Geography Factor
Some areas, especially rural areas, simply do not possess a significant quantity of condominiums to make that option a viable consideration. Other areas, just like Completely new York or other densely populated urban areas provide a short supply of single-family houses. Suburban markets just like Huntington Seaside present a wide selection of alternatives for both homes and condos. Presently there are approximately an equal number of houses and condos for sale in the Huntington Seaside real estate market. An extra geographic factor to bear in mind is proximity to work, shopping and schools. Senior citizens who no longer drive can be much happier in a condo close to every little thing than in a single-family house in a secluded area.

Lifestyle Factors

The choice between a condo and a home is influenced by your stage of life. A young couple, just starting out and with limited funds and no plans for starting a family may find a condo the better option. A property might be just the ticket, also, for the empty nesters who look forward to a place with less maintenance and yard work. The single-family home option has strong appeal to families in the little one raising stage of life. A detached home with a yard and maybe even a pool has benefits for families with children who require room to play. Apart from family size, sometimes attitudes towards upkeep, maintenance and yard work will factor in the decision to purchase a house or a condo. Another factor to bear in mind is amenities. Some condo complexes provide swimming pools and possibly tennis courts that may be very difficult to afford when buying a single-family house.

Investment Probable

Condos and single-family houses both respond to market conditions. When pricing is rising they both appreciate in value. When prices fall, both lose value. On the whole, 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 imbalances. Such as, in the Huntington Beach real estate market since the first of the year 279 single-family houses have sold. The average sales amount was $704,638. The maximum price range for a house sold during that period was $3,500,000 and the minimum sales expense was $240,000. During that same period, 180 condominiums sold for an average cost of $347,917. The maximum price range for a condo sold during that period was =$1,175,000 and the minimum amount was $60,000. These figures show an incredible variety in both homes and condos with each offering high-end, moderate and low cost options. For individuals that can not think of $240,000 for a home as being low price , don?t forget that Huntington Beach is right on the coast in Southern California.

Georgette Adanas has been writing articles or reviews on Huntington Beach condos for sale since 2000.

Source: http://www.pranabroy.co.nz/condos-vs-houses-which-one-is-right-for-you/

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