The Difference Between a House and a Condo as a Real Estate Investment

If you have decided to invest in real estate, you may be debating between purchasing single family homes or condos. Both are single-unit residential properties, and both may be in high demand in your area. While they appear to be similar in many ways, there are some clear differences between the two that you should be aware of before you make your buying decision.


The Maintenance and Upkeep


First, with both types of properties, the owner will be responsible for maintenance and upkeep on the interior. For single family homes, exterior maintenance and repairs are the owner's responsibility. For condos, on the other hand, the responsibility for the exterior falls to the condo association. This can decrease the cost of ownership in some cases.


The Fees


With both homes in a neighborhood and condo units, there are homeowners or condo association dues that will be due on a regular basis. Some will require you to pay annually, and others have a monthly or quarterly payment schedule. These fees cover exterior and common area maintenance, management fees and other services provided by the community. The fees can vary based on the size of the community, the type of amenities present and other factors.


The Rules and Restrictions


Just as both types of units have ownership fees and dues, both typically have rules and restrictions. This may pertain to the type and number of pets permitted, noise concerns, how to handle issues with your neighbors and even the use of the property. Generally, the condo rules are more stringent, but this is not always the case.


Investors will need to be aware of these differences between property types and will need to research differences from community to community. These factors may make one unit more attractive than another.


Sources:

Is it wise to buy condo to rent out?, Bankrate Is Buying a Condo a Good Investment?, About

Beachfront Condos Make the Best Abode for Anyone Seeking Tranquility

There are few views that can top that of an ocean vista from your beachfront condo. You can stand in the comfort of your own condo and gaze off across the peaceful water, watch the waves gently lapping against the shoreline and even listen to the seagulls as they fly overhead from time to time. This is only one of the many things to love about a beautiful beachfront condo.

Uniquely Refreshing Lifestyle

When you own beachfront property, even a condo, you will enjoy easy access to the water and all that the beach provides. For example, you could enjoy fishing, swimming, sunbathing or floating in a tube. If you live close to a marina, boating, kayaking, sailing and other activities are also available within a short walk from your home.