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Pros & Cons: Condo vs. SFH


Figure out what’s best for you - buying a condo or a single family home.

A condo can make a great starter home, but weigh the pros and cons of buying a condo vs a home to decide whether it's right for you. Homeowners purchase the house and the land it sits on, whereas condo ownership includes only the living space inside the condo unit and a portion of the common areas of the condo building. There are advantages and disadvantages to both types of housing. Lifestyle and cost can help determine whether a single family home or a condo is more suitable for your needs.


Pros: Single Family Home

A big advantage to buying a single family home is that you have total control over the property to remodel or make changes without the consent of others, unless you buy in a Home Owners Association (HOA). Another advantage of owning a house is that they often have extra square footage indoors and out. This can better accommodate families, children, and pets. Speaking of pets - some condo buildings have limits to the types of animal allowed including size and breed. Additionally, owning a single family home can often offer more privacy than in condo buildings as there is often more space between you and your neighbor.

Cons: Single Family Home

Home ownership has some drawbacks, too. A homeowner is completely responsible for all maintenance inside and outside the property including care and upkeep of the yard and trees. You must also consider buying extra equipment and tools for maintenance when you purchase a house. Although any improvements you make will likely increase the home's resale value, they require an investment of time and money. Another con is that utility bills are generally higher because houses are significantly larger than condos.

Pros: Condo Living

Many buyers decide to purchase condos over homes due to the appeal of urban living. Walnut Creek, as an example, has close to 20 condo buildings within walking distance to shops, restaurants, BART, and other places of interest. Many have resort-like amenities, such as pools and fitness centers, that would be luxurious add-ons in a house. With people living busier lives, condos are an attractive choice because of their convenience and low-maintenance. Additionally, association fees cover the exterior and many of the expensive maintenance of the structure, leaving you with just the maintenance inside your unit.

Cons: Condo Living

While a pro, this can also be a con for many - association fees, which are collected outside the monthly mortgage payment and used toward building maintenance and amenities. The fees can be expensive and they can increase when extra money for maintenance is needed. Another con is that all homeowners share in the decision-making process with regard to the condo building. Although many owners seek the sense of community and safety found in condos, some buyers don't like the rules and restrictions associated with condos.


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