Condo Ownership VS Home Ownership - Advantages & Disadvantages

Real Estate Broker/Owner with Canyon Vista Realty 492107

Condo Ownership VS Home Ownership - Advantages & Disadvantages

The Island on Lake Travis Condos

Condo Ownership is very different than owning a home:
When you own a condo, your personal ownership is typically limited to the interior of your unit, and includes the floors, walls and ceilings. In addition, you share responsibilities with all the unit owners for the exterior of the complex, the common areas, and all amenities. Shared ownership offers enticing benefits, but it also carries drawbacks.
Disadvantages of Condo Ownership:

Austin Condo

owning a house demands additional responsibilities, because you alone are responsible for the interior and exterior maintenance and upkeep of the home. However, a house provides other advantages that a condo cannot match.

1.   Community Living

As a member of a condominium complex, you will be part of a “community.” Having shared walls means you are more likely to hear noise from neighboring units, while shared common areas can lead to more interaction with your neighbors than you wish.

Austin Condos For Sale


Every condominium owner is responsible for certain fees—typically called Home Owner’s Association (HOA) fees. These dues, generally collected monthly, will never go away! While they may minimize large “one time” expenses, additional fees may still be assessed, in response to unexpected or unplanned for events.

3.   Resale

Historically, condominiums have been more sensitive to real estate market trends than single family homes. When the local housing market starts to decline, the condominium sector is usually one of the first hit—and last to recover.

Lake Travis Condo, Lago Vista, Point Venture, For Sale

4.  Rules

When you own a condominium, you lose some of the independence of home ownership. You must follow HOA rules or risk being fined. These rules may influence what you can put in your window, renovations, pet ownership, and noise levels.

5. Privacy

Due to the close living proximity, condo owners lose some of the privacy that a single family residence affords. Shared walls mean shared noise.

Austin Codos


When you own a condominium, you do not own the land beneath you. Your ownership typically extends to the space between the walls of your unit along with shared common areas. This also means you will not have the ability to “expand” the size of your home.

Advantages of Condo Ownership:

You will not be solely responsible for exterior or common area repairs
The HOA dues (or a one time assessment) you pay will generally cover all exterior repairs, including: siding, roofing, etc.

1.   Convenient location:

Condominiums are often located in prime locations that are convenient to city centers, shopping, and restaurants. The close proximity to the city center and to major transportation routes allows you to reduce your commute time and costs

2.   More affordable than a single family home

Condominiums have a very wide price range, with the lower range often within the budget of first-time buyers and single income families. To find a comparably priced home, you often have to search less desirable neighborhoods and suburban areas of the city.

Condos in Cedar Park

3.   Security and safety

Nearby neighbors make many condominium owners feel more secure in their home. The presence of neighbors makes it more comfortable to leave home for vacations or work trips. Many condominiums have additional security features, such as a guard service or buzzer system to provide additional protection for the owners.

4.   Low maintenance

No more lawn care…say it again, NO MORE lawn care! Condo living usually means somebody else is taking care of the exterior maintenance, such as mowing the lawn, shoveling snow, and cleaning the gutters.

5.   Amenities

Condominiums often offer access to amenities such as a swimming pool, gym, tennis courts, and reception area in the common areas, providing luxuries you may not otherwise be able to afford.

Lake Travis, Hollows, Lago Vista Condos for sale

6.   Neighbor accountability

The condominium association sets rules and regulations that all home owners must follow. The association will enforce these rules to ensure compliance, while also dealing with disputes between unit owners or developers.



Re-Blogged 7 times:

Re-Blogged By Re-Blogged At
  1. Brian Olsen 12/02/2012 03:21 AM
  2. Katie Evans 12/03/2012 03:09 AM
  3. Saralou Durham 12/03/2012 04:06 AM
  4. Gloria Todor 12/03/2012 06:29 AM
  5. Susan McCall, Everyone needs a home 12/03/2012 09:17 AM
  6. Shanna Hall 12/04/2012 07:41 AM
  7. Winston Heverly 03/22/2013 10:20 PM
ActiveRain Community
Texas Travis County Lago Vista 78645
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lake travis
for sale
real estate in austin
austin condo living

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Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Bob-This is a very comprehensive explanation of condos and their pros and cons. Thanks.

Dec 02, 2012 03:25 AM #1
Courtney Cooper
Team Leader/ Investor for Brand New Keller Williams North Seattle Office - Seattle, WA

Nice job getting this one put togetehr - I suggested and reblogged it.  Have a great week!

Dec 02, 2012 03:26 AM #2
Ki Gray LLC - Aspen, CO - the ultimate snowsport home search!

Lots of options and different variables at play.  Definitely pros and cons to each - great post Bob!

Dec 02, 2012 03:45 AM #4
Olena Nibley

Good article, Bob!

Dec 03, 2012 03:03 AM #5
Ron Aguilar
Continental Mortgage - Saint George, UT
Mortgage & Real Estate Advisor since 1995

most potential buyers understand the pros and cons. Let them dictate to you where they want to be and react accordingly.

Dec 03, 2012 03:10 AM #6
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Bob, excellent post and comparison of condo versus stand alone.

Dec 03, 2012 03:14 AM #7
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA


Your post is a very good explanation of what a condo is.  I  will use your information to help my clients understand the difference between a single family home and a condo.

Dec 03, 2012 04:22 AM #8
Rafi Footerman
Mid Jersey Inspections - Edison, NJ
Home Inspector, Mold Inspector, Radon and More!

This is great for your buyers.  If you don't already, you should give it to them.

Dec 03, 2012 05:35 AM #9
Gloria Todor
Century 21 Absolute Realty - Media, PA
& Doug Durren (484) 431-3686 in SE PA

Hi Bob, This is a great post answering many questions posed by potential buyers of condos.  Reblogging and suggesting.

Thank you.


Dec 03, 2012 06:25 AM #10
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

Thank you..I always outline the pros and cons of condo ownership, but you brought up a few points I had not thought of.

Dec 03, 2012 07:04 AM #11
Dwight Puntigan
DRP Realty, LLC - Saint Peters, MO
Dwight Puntigan

In this area slow appreciation compared to single family is significant.  Pro and con of majority owner occupant allows for lower down payment FHA financing, but if rentals are not allowed you lose flexibility when you need to relocate or if an elderly owner suddenly dies and rental is not a tool to make the payments.  too many transients and the area loks as if it will never appreciate.  Condo create a great many conversations.

Dec 03, 2012 09:37 AM #12
Travis "the SOLD man" Parker; Associate Broker
Team Linda Simmons, Enterprise, AL 36330 - Enterprise, AL
email: / cell: 334-494-7846

Excellent list. We don't have Condos in this area, but do have a lot of townhouses. Many of the features are the same - good and bad.

Dec 04, 2012 09:49 AM #13
Rob Renk
Center Street Lending - McKinney, TX
AE | Fast Fix/Flip Loans for Residential Investors

Condos do have their place.  Your comparison to the pros and cons is a good read for all before they consider a condo purchase.

Dec 04, 2012 08:21 PM #14
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Bob Ratliff

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