Buying A House VS Buying A Condo For Sale In Regina

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At some point in your life, you might have pondered if the ease of condo living is for you. The lack of maintenance, simple living and affordability may be calling your name. But, what about the growth limit, increasing condo fees and noisy neighbors? The decision to buy a house or a condo for sale in Regina will depend on the more prevalent priorities in your life.

Let’s identify some pros of buying a Condo for sale in Regina:

Pros of buying a Condo for sale in Regina:

  • Can buy an inexpensive NEW condo
  • Long-term affordability
  • No exterior maintenance or unexpected home owning costs
  • Only a furnace to maintain
  • Good for single people, small families, retired couples or downsizers
  • Can be used for future income property
  • Possibility to renovate and paint however you want
  • Tons of inventory to chose from

Con’s of buying a Condo for sale in Regina:

  • Condo fees are subject to increase with age of condo
  • Can’t chose your neighbors
  • May have to sell in a competitive market
  • No garage possibility
  • Limited parking 

 

Pros of buying a House:

  • “American Dream” home ownership feeling
  • Investing in the future
  • Equity potential
  • Ease of resale (in today's market)
  • Lots of yard space
  • Can adjust the entire house/exterior to suit your lifestyle
  • The potential for large family growth

Cons of buying a House:

  • More expensive than condos
  • Require more maintenance i.e. shingles, exterior, lawn, winterizing
  • Renovations are often very expensive
  • Utility bills are more expensive
  • May not be able to afford the quality you want

As you can see there are no more OVERALL positives to owning either a house or a condo! The type of property you want to own will depend entirely on your needs. Remember, a property is meant to be bought and sold. If you buy a house and five years later decide a condo is better for you, you can sell it! 

I encourage you to think about what you want in the future. If owning 15 Great Danes is on your list of lifetime goals, a house is probably the better option for you. Condos make wonderful starter homes. The nice thing about a condo is that you might be able to buy a cheap enough condo that if you want to move, you may be able to use the condo as a rental property. You will always have options.

 

Contact Me

I offer Buyer counselor sessions to educate people on what’s involved in the home buying process and sometimes to help them decide what type of property they want, if not to help them decide then always to provide more insight and information. If you are wondering if owning a house or a condo for sale in Regina might be right for you, call me at (306) 552-7047 or fill out my online contact form and I will help with the next step.

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