Debt Pay Off Part 5 – Choosing A House or Condo

This is part 5 of a series of how I paid off $95,778.5 in less than 3 years.

Once you know how much of a mortgage you qualify for, the fun begins!

Determining if a house or a condo is right for you really depends on what you are looking for in a home and how much you could afford. If you travel a lot and don’t have time for the day to day maintenance that a house requires, such as snow removal, lawn care, roof repairs and furnace replacements, then a condo might be best for you. You may also want to consider a condo if you are single and don’t need or want a lot of space. Here are some pros and cons of condo life.

Pros

  • Wide price range
  • Generally cheaper than a house (depending on location)
  • Some condos have 24 hour security
  • Less maintenance than a house
  • Built-in amenities such as gyms, pools, party rooms, bowling alley’s and tennis courts

Cons

  • Monthly condo fees that increase annually
  • You may be paying for what you don’t use
  • Pet restrictions
  • Many rules and regulations
  • Less control
  • Less privacy

Check out the financial situation of the condo you plan to buy. You don’t want any surprises after you move in that could cost you. Also, find out how many units are being rented in the condo versus owner occupied. This can cause problems because tenants generally don’t treat a property they are renting as well as if they owned it.

Buying a house has it’s fair share of pros and cons as well. If you have a large family, require a lot of space or maybe you have several animals that need a big yard to run around in. Then a house may be best for you. Location also comes into play when determining what you are looking for. Do you want to live in the city or in the country.

I have attached a few links that should make your search a little easier.

Condominium Buyers Guide Home

Hunting Comparison Worksheet

Click here for part 6

14 comments

  1. […] Debt Pay Off Part 5 – Choosing A House or Condo […]

  2. […] Debt Pay Off Part 5 – Choosing A House or Condo […]

  3. Awesome blog and great posting.Thanks for sharing it.

  4. All things have pros and cons. That's why the decision is still depends to us, just like choosing whether a condo or a house.

  5. The Droid can work with multiple Google accounts, which means you can receive information simultaneously from several accounts. It's not necessary to remove an account if you want to continue receiving information from multiple accounts.

  6. Tuition emend our understanding moreover skill. It benefit us for developing the disposals of logic moreover award
    Tremendous Blog! I would cherish to bless for the tasks you receive made in manuscript this dispatch.

  7. The bulls are pointing out that new home sales are on the uptick nationally and that the absorption rate of homes overall has increased. Interest rates are still at an all-time low to those that qualify, and there are becoming more buyers each month looking for quality homes.

  8. sanhaja says:

    Though of course hotels have always been built in popular destinations, the defining characteristic of a resort hotel is that it exists purely to serve another attraction, the two having the same owners. furnished short term rentals toronto

  9. I really like this post, i enjoy every minute reading it. It's cool, that author decided to write on this theme. I would like to read another post this author with great pleasure. It might be really interesting.

  10. Adam says:

    Library accounts managing a difficult work because you have to be update about every book in that case. So many types of authors would be there for that you need to see towards those matters also. So many people are there who takes the books but forgot to return that in time that creates a confusion in mind to arrange those accounts properly.
    Party Entertainment New York

  11. kiopuy says:

    It is benevolent imbibe info, i understand trinity epochs many away your reports,exclusively i preference this plot therefore this here ease is over pithy furthermore very fascinating,fulfill further storys as this.Benevolent
    business plan help

  12. Nice blog about. I really appreciate the blog writing. Thanks for the wonderful post.

  13. Albert says:

    This post is great. In-fact I've found above suggested ways helpful to choose a house for my living. Very simple and educative post!!

  14. looerds says:

    This is a blessing in disguise. Take this opportunity to develop healthy financial habits, like spending less than you earn. Instead of treating your bankruptcy like a comically large anvil poised to drop on your head at any moment, treat it like a chance for change.
    Doctor Credeur

Leave a Reply

Your email address will not be published. Required fields are marked *

© 2012-2017 All Rights Reserved

Read previous post:
Debt Pay Off Part 6 – Payment Frequencies & Pre-Payment Options

This is part 6 of a series of how I paid off $95,778.5 in less than 3 years. Payment Frequencies Most banks...

Close