Condos vs. Single-Family Homes: Which Is Better for You?

Both condos and single-family homes have their share of benefits and downsides. Whichever is best for you depends on your situation.

Should you buy a condo or a single-family home? What are the benefits and downsides of each?

Younger buyers who don’t have families to take care of or don’t want to live in the suburbs gravitate toward buying condos in Arlington or the DC area. Three or four years later, however, they usually end up making the move to a single-family home because they now have families and pay attention to school districts and other details that pertain to that change in lifestyle.

One of the biggest benefits of buying a condo is that your level of maintenance is very low. Certain amenities are taken care of for you, as well. For example, you might have access to a pool or an assigned parking place. If you travel a lot, condos are especially ideal to own because they’re turnkey. You can leave for two months and come back and everything will be the same as you left it.

If you plan on having a family, you can probably skip buying a condo.

One of the downsides to condos is you can’t make any upgrades or renovations to them, usually because their bylaws restrict making any serious changes. With a single-family home, you can do whatever you want to the property, though that can depend on whether you live under a homeowners association.

One of the downsides to single-family homes if you work in downtown DC is you’ll likely be commuting to work from further away. If you work elsewhere and you plan on having a family, you can skip owning a condo and buy a single-family home somewhere with a good school district.

Depending on your current situation, you don’t necessarily have to do one or the other. Like I said, buyers in our market often buy condos or townhouses and then sell them before settling in a single-family home.

If you have any further questions about the advantages and disadvantages and condos and single-family homes and which one makes the most sense for you, give me a call. I look forward to talking with you soon.