It goes without saying that buying a home is arguably one of the biggest and most important decisions anyone ever makes in their lifetime. Putting aside the intricacies involved, among the first decisions a potential homeowner has to make is whether to choose a single family home or opt for a South Beach condo. Both have their unique appeal yet they also have tradeoffs that must be taken into account.
The most obvious of these considerations is clearly the location. Condos are generally located closer to the city than a single family home and may therefore be a better option for someone who wants to be able to visit restaurants, shopping districts and such on foot. Also, unless you’re choosing a South Beach condo with few units, a condo won’t offer the same amount of privacy as a single family home which isn’t attached to another unit as many condos are.
Cost is also a major issue in both scenarios. A single family home may be more expensive but a condo can still come with additional costs like association fees, car parking fees and the money required for insurance and building upkeep. However if your budget is tight, not having to spend extra money on keeping the yard clean could be the advantage that’ll make you opt for a condo.
Finally, keep in mind that anything you’d like to change about your home will require the approval of your fellow condo association neighbors, unlike a home in which you have free reign (for the most part) to renovate, redesign and tweak to your needs and wants. Regardless of whether you opt for a single family home or condo, the satisfaction of owning your own home is one of those euphoric feelings any first time homeowner will revel in as they begin the next chapter in their lives.
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