December 7, 2018 | Fernando Sandoval

In this re-broadcast from the Facebook live event, Fernando and Julie Sandoval with the Saltwater Ventures Team at RE/MAX All Star discuss the many advantages and disadvantages between owning a condominium and a single family home.

We break down the following:

Some people are condo people and some people are single family people and that can change throughout your life path but before you dismiss one or the other, watch this video and review this list.

Advantages of Living in a condo:

  • No yard maintenance
  • Easy access to great amenities like pool, laundry room, club, tennis courts, volleyball, special events, pool table, libraries
  • Community feel and connection with people
  • Higher level of security
  • Security gates
  • Guards
  • Lower speed limits
  • Utilities are lower or are paid by the HOA fees
  • Easier to clean and maintain
  • High rise condos have elevators
  • Podium condos have parking garages, storage
  • Cheaply or free rental of clubhouse for special events
  • Less expensive for waterfront or close access to boats and docks
  • 55+ condos are extremely affordable
  • Trash shoots / or pick up service
Discuss the appreciation differences between condos and Single Family Homes

Advantages of Living in a Single Family Home

  • Privacy, can spend time in the back yard or entertain without strangers around
  • Pets have a yard to run around and do their business in without a leash
  • Low or no pet restrictions
  • Short term rentals per city rules
  • Private pool or the ability to add a pool on the property
  • Remodel is easier, can add square footage, building footprint
  • Private garage or back alley
  • Can park boat right on the property
  • More private feeling with fences and large distance between structures
  • Paint and decorate the exterior as you wish
  • If home office / business, it’s easier to have clients / customers over to home office
Disadvantages of living in a condo

  • HOA fee can range between $400-$700
  • Provide examples
  • Covers flood, damage, paint, yard maintenance, amenities and roof reserves
  • Show HOA comparison excel sheet with single family homes
  • Max 2 pets or no pets and weight restrictions
  • Close to neighbors, walls are adjacent and can have above or below neighbors
  • Parking can be inconvenient
  • Open
  • Assigned
  • Garage
  • You may get more noise from people coming and going
  • 1st floor vs. 2nd floor, etc.
  • May not like too many rules and regulations
  • Having to share amenities like the pool and pool table with others
  • Short term rentals can have restrictions in addition to city rules (examples)
  • HOA can vote to raise fees
  • You may be stuck being real close to that cranky neighbor
  • May have to drive or walk trash to a far location or pay for pick up service

Disadvantages of living in a Single Family Home

  • Yard maintenance can be a weekly 4 hour or more ritual or cost hundreds
  • Responsible for fence, pool and exterior grounds
  • Less human connection with neighbors
  • Easier to burglarize than a condo
  • You must save up for your own future roof replacement
  • Pay for your own water and cable bills
  • Utilities tend to cost more because of the free standing structure
  • Without HOA and rules the neighbor can park RV’s, boats, vehicles on blocks and paint his house purple and the only recourse you have is to complain to the city
  • Flood insurance is your responsibility
  • You must sign up for your own gym membership
  • If you don’t have a pool you either need to put one in or go to community public pools, stay in a hotel or go to a friends house
  • If you want a waterfront home or close to your boat or beach you are talking $600k or more upfront cost
  • No security unless gated community so only recourse is to call the police
  • If you want to host an event you will need to be rent a 3rd location venue
  • Storing and rolling in and out garbage cans, remembering “trash day”
Is there a hybrid?

Yes, it’s called town homes

  • Small patios
  • Not many neighbors
  • Wall are adjacent
  • HOA usually covers roof
  • Private garage
  • Parking is more of an issue because of lack of street parking
  • Has amenities
Cost per square foot of condo vs. single family home

Fernando Sandoval and the rest of The Saltwater Ventures Team at RE/MAX All Star are always available to answer your questions in English or Español.

Text or call 727.344.9139 or send us an email by filling out the contact us form on our website. We look forward to working with you.

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Author: Fernando Sandoval

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