The Sarasota Property Group

Condos Vs. Single Family Homes

One of the most common things people tell us when they’re considering a home in our area is that they haven’t decided whether they’d prefer a house or a condo.  This question, though basic on the surface, is a complex and significant choice that will help determine many big factors in the real estate process – and in the buyer’s lifestyle for years to come.

It’s important to determine the answer to this question very early on as it will dramatically change the price point, location, style, and condition of your upcoming purchase.

Why Purchase A  Condo?

Condos are very popular with buyers who want to relax and enjoy their lifestyle without worrying about excessive maintenance.  They’re ideal for people who only plan to live in the unit part-time because basic upkeep, like lawn and exterior maintenance, is included in the condo fees and isn’t a concern for an owner when he/she isn’t in the area.  Condos are also popular among people who want to live a resort lifestyle year-round, people who don’t have the ability or desire to perform maintenance, and people who want to live close to community hubs (downtown areas, beaches, etc.)

Because condos often share walls and amenities, they tend to harbor a social atmosphere among owners.  Buyers can expect to see their neighbors year after year by the pool, in the community room, or in the fitness center.  This closeness of living necessitates stricter rules and regulations than one could expect to see in single-family homes, particularly in relation to pets – buyers with birds, big dogs, or exotic animals will have a much more limited scope of units to choose from.  Unit exteriors also tend to be more cookie-cutter in appearance and it’s uncommon for an owner to be able to change anything outside the unit’s walls.

There are several types of condos to choose from.  True condos are apartment-style stacked dwellings with shared stairs and elevators.  Townhouses are generally multi-story and come in rows of 4-to-6 attached homes; unlike apartment style condos, these homes generally have garages and sometimes even small yards.  Villas generally come in groups of two with a single shared wall and roof and exterior maintenance is split between the neighbors; though still restrictive in nature, this type is the closest unit type to a single-family home.

View All Sarasota Condos For Sale.

Why Purchase A Single Family Home?

Houses, or single family homes, remain the most popular type of dwelling in most locales.  Houses afford owners more choices when it comes to use and appearance; although some communities are deed-restricted, owners typically have the freedom to use their homes as they wish.

Houses tend to be larger than condos and will almost always have yards.  They are also much more private than condos and there is separation between the neighbors.  Houses tend to be much more popular among people with young families, full-time residents, and people who put a high value on their property freedom.

Houses will usually cost more than condos – the construction cost is higher per unit, and there’s more demand – but they will also typically resell for more.  Homeowner’s association fees, if any, are typically significantly lower than condo fees but there are fewer included amenities.  Houses are also usually much easier to rent.

View All Sarasota Houses For Sale.

Condos		Single Family Homes
Tend to be closer to community hubs		Tend to be in residential areas
Most maintenance included		Most maintenance excluded
Restrictive rules, particularly in regard to pets		Fewer rules and regulations, pets usually OK
Higher fees, more included (often will pay for cable, exterior maintenance, water, and common areas; associations vary.)		Lower fees, less included
More social		More private

Related posts:

1. Sarasota real estate market at highest level since 2005
2. Home sales once again top 500 in Sarasota market!
3. Sales Skyrocket in March 2010; Local Market Appears Strong
4. Property Sales Up 49 Percent in February 2010; Pending Sales Spike
5. Signs of Stabilization?

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