Buying a condo or a house in Mississauga-which is a better option? The question may appear simple but it is actually tougher than you think.Therefore,the decision to purchase a house or condo in Mississauga has to be looked at from various perspectives. This article gives in-depth information about the two housing options, specifically outlining the pros and cons of each type to help you make an informed decision regarding your housing needs.
Why Buying a Condo is a Better Option?
1. Less Expensive
Condos are less expensive as compared to houses. A condo’s ticket price is always less than a house although the costs per square foot for the two may be similar.
Again,the maintenance costs for condos are not only low as compared to houses but also easy to budget for given that they are a set monthly cost.And as you know, a lower price comes with a lot of benefits in form of low downpayment and monthly payment.
2. No Repair Maintenance Required on the Exterior
Perhaps this is one of the biggest advantages of living in a condo.As a homeowner,you are always tasked with various activities such as painting your house,trimming hedges,pruning trees,and moving the lawns among others.
Condo owners, on the other hand, spend their weekends hanging out at the pool,taking trips or just relaxing at home.The ownership and maintenance of the exterior of a condo is the sole responsibility of the Homeowner’s Association.
So if you are living in a condo,you are only responsible for the maintenance of the interior.Accordingly, this frees up most of your time and money that you can inject into other projects.
3. Favorable Locations
More often than not,condos boast proximity to amenities owing to their small size and densely packed nature.This is apparent in downtown areas featuring enormous cultural activities,job opportunities as well as shopping activities.It is therefore unsurprising that the condo owners often have shorter commutes in comparison to homeowners who live in distant suburbs.
Again,the condominium neighborhoods often feature shared amenities.These can include various services ranging from gymnasiums to swimming pools,golf courses,pet parks, and tennis courts just to mention a few.So the condo owners get all the amenities without having to leave the property.However,the situation is not the same for homeowners whose only option is to commute to public facilities for the same amenities.
5. Social Connections
The square one condos in Mississauga are well known to be the multi-cultural hub of downtown Mississauga.This region boasts a diverse population that includes students and retiring baby boomers among others.Given that condo living involves the existence of many units in a single place,they provide an ideal platform for social connection.Mississauga condos provide a high level of intimacy,to say the least.This is near impractical with detached houses since such housing types are known tocreate distance between neighbors.
Why Living in a House is a Better Option
1. A House is Easier to sell than a Condo
Selling a condo can be such a daunting task in a bad housing market.This is largely attributed to the fact that a condo is ideally a substitute house.In other words,people only flock the condos in the most robust markets.
Condos exhibit uniformity and there’s no way to make one unit stand out from the rest. So clearly it would take a year or more to sell a condo if there were more units to sell in the neighborhood. No wonder most of the condos are often transformed into rentals.
With detached houses, on the other hand,there is liquidity in all kinds of markets.Besides,the individuality factor also comes into play when looking to sell a house.You can customize your house based on your personal preferences and make it as unique as you want.Consequently,this increases its chances of attracting specific buyers.
2. A House Can Easily Accommodate the Life Changes
When living in a condo,be sure to have some of your activities closely monitored or totally restricted by the Homeowner’s Association(HOA).For instance,they can control the better part of your activities such as who you live with inside the condo or what you do for a living.
Condos have restrictions on the number of individuals that can live in a single unit.This is never the case with a house where you have all the authority to freely do any activities.Whether you are looking to stay with your sister or brother in law under the same roof,you can always do it freely in your house.
3. Owning Some Land
The primary advantage of owning a house is that it lets you own the associated land.With detached houses,you can create your garden,play football games as well as host backyard parties in your own space.Additionally,you will also have a private backyard that can act as an ideal playground for your kids.
Clearly,you can see that each housing type comes with some advantages and disadvantages.It is advisable to settle for what suits you best.Above all,you will realize that your preferences change over time and each housing type may provide something different at specific periods in your life.
For instance,your preferences when single are not similar to your needs once you have children soon after marrying.Nevertheless,thinking about the mentioned topics will get you closer to your preferred choice and help you know exactly what can work for you.
To wrap it up,it is clear that none of the two housing options is better than the other.So making the best decision all goes down to your current lifestyle,and most importantly,your personal preferences.So choose what suits you best and will bring you happiness throughout the days of your life.