choose-thin-banner-1200x300-12-15-16Do you feel like you are ready to make one of the most important investments of your life by buying a home? Congratulations on reaching this milestone! Investing in a home doesn’t just mean buying a house. You could also buy a townhouse or a condo, so it’s important to invest in a home that fits your budget, your lifestyle, and your personal tastes. After all, you will most likely be stuck with this purchase for years to come, so you need to invest wisely. Today, we would like to take a look at the pros and cons of all three different housing types.


First of all, if you do not like people, especially neighbors, then this option is not for you. Living in a condo is similar to living in an apartment except that you own the property rather than rent it. Condos feature shared walls and parking area as well as shared community spaces. When you live in a condo, you might have neighbors living both above and below you.

As a condo dweller, you will have to pay fees to your homeowner’s association (HOA), and you will also have to follow their rules. Some HOAs are pretty laid back while others may want to control the smallest details of building decorum. If you are interested in a condo, we definitely recommend researching the types of neighbors that you will have as well as the community’s HOA.

That said, living in a condo offers many advantages for buyers. Condos tend to cost much less than townhouses or houses, and you will not have to maintain a yard. Condos are great options for people who live alone because they can feel safer knowing that people are nearby should something happen.


Townhouses offer more privacy than a condo, but not as much privacy as a house. Townhouses are usually two story houses and they share walls with other townhouses. With a townhouse, you also own the small plot of land that your townhouse occupies. This could consist of a walled-in patio, a small yard, or a patch of grass. Like a condo, you will have to pay HOA fees and deal with its rules. The HOA fees generally pay for the maintenance ofthe grounds, so you may not have to take care the greenspace you own. Again, this might not be the best option for those who really don’t like people. Although you will see less of your neighbors than you would if you owned a condo, you still share some walls with them.


Perhaps the most desired housing option is the house because you have the most freedom and privacy of all. When you own a house, you will not have to pay HOA fees or receive a letter explaining what types of Christmas lights you are allowed to hang during the holidays. You will have no shared walls, which makes houses a popular choice amongst families with children. Houses are the best options for anyone who enjoys entertaining friends and family and for pet owners.

The downside to owning a house is that it is much more expensive. You will have to pay to repair any structural damage to your home and maintain your lawn yourself. However, houses are considered to have the best investment value, so you could make a nice profit should you ever decide to sell. Unlike townhouses and condos, you can add onto your house if you would like.

If you would like to invest in a home, please consider the pros and cons of each option carefully so that you will make the right choice. If you need help finding a mortgage, contact our mortgage brokers to help you obtain the best mortgage rates today.