Indeed, choices matter. Choosing one direction over the other has consequences and possibly a slew of benefits. Taking a good look, for instance, at Jeff Bezos, arguably the richest man on the planet, should bid us well. The Amazon founder saw the vast opportunity the internet offers while researching new business opportunities online as a Vice President of a hedge fund, D.E. Shaw. And seeing all that, he thought to himself he shouldn’t wait. Even against the wishes of her mother, who feared for the worse, Jeff started Amazon in 1994. And the rest is history.
Of course, buying a house isn’t actually as monumental a decision as putting up a global business. However, make no mistake about it. A wrong turn could have drastic results. Thus, to clear things, we show you two of the most popular choices of the day. We’re talking about a house and a condo. The former is blessed with more space, while the latter is bound to give you many more refinements. Don’t get confused. Doing your due diligence is best.
Condo: the Advantages
Indubitably, two of the most common choices you get today are between getting a condominium or getting a traditional house. If you talk about labor, you’re well taken care of in a condo. You can have a garbage collection. Thus, if you’re a typical millennial or a go-getting VP of a hedge fund, all the amenities can surely charm you. You need not bother much about it.
Even better, condos are well situated right at the heart of the city. So location is one key advantage for a condo. You get to live right next to the place where you work. Moreover, as it’s usually in urban areas, condos, more often than not, are well within walking distance of your needed shops, restos, and bars. Indeed, small wonder why many company execs choose a condo.
Plus, and it’s a big plus, you can have resort-like amenities that you won’t find in a regular home. We’re talking about access to fitness centers and pools. And yes, if you’re the gregarious type who craves to meet people and doesn’t want the peace and quiet of the country, then the condo fits perfectly to a T.
In this regard, getting a condo loan via a reputable mortgage lender should bid you well. Such a loan would definitely help you acquire a condo seamlessly. Small wonder mortgage loans are the top method in getting a condo.
Condo: the Disadvantages
However, hold your horses. Condos aren’t 100% made in heaven. And there are a few hitches to the plan.
If you’re not a gregarious type and would prefer more space and less attention, then a condo can be a bit of a drag for you. All the people you meet in the elevator and the pool can feel intrusive to some extent. Worse, you will have to face association fees, and in no small measure.
What can be a turn-off for many about condos is that you’ll be governed by a set of rules, specifically homeowner’s association rules. And bad behavior on your part can certainly be a point against you. So if you do not want limits on what you can do to your place or what you can do while inside your place (e.g., loud music), then condo living might not be for you. And yes, it does happen. The court has forcibly removed condo owners with anti-social behaviors.
House: the Disadvantages
As beautiful as a house might be for you, it also has its own disadvantages. To boot, you’ll have to contend with maintenance. Nobody’s looking over your shoulder here, and that means you have to take it upon your own shoulders to make it happen. Or you could be looking at a dirty dwelling place in no time.
And that holds for your utility bills. You might have to pay more each month, as your household alone is using it. And yes, if you’re the type of person who wants to meet new people every day, living in a traditional house can get boring pretty fast.
House: the Advantages
Think of a house as an empty piece of canvas, and you are the artist. You can do anything you want with it. Build an outhouse, build a pool. You name it. Plus, mind you, a traditional house has lots of elbow room. You can have your kids play in the front yard, and you can have a garden outback. For a family man wanting to watch his kids grow, a traditional house is a treasure trove.
Yup, that total control can certainly be a big draw for you. You won’t have to ask HOA’s permission to renovate (unless you belong to one). You have all the space you need to bring your best friends over and do some BBQ. And yes, no exorbitant HOA fees to bloat your monthly dues. In short, it’s a haven for people who want to live their lives with fewer rules. And no one looking over your shoulder always.