~~Finding the Perfect Home: House vs. Condo
Published on March 6, 2014
Over the past few years, the housing market has been on a bumpy ride. Most of that journey was downhill, too. It is understandable and reasonable if you are a bit unsure about the real estate that Atlanta, Georgia has to offer. While single family detached homes and condos each have distinct advantages, choosing which one is right for you depends on your lifestyle and priorities.
There is no evidence to show that single family homes appreciate at a faster rate than condos, or vice versa. The national statistics released by the National Association of Realtors (NAR) reflects all markets. Home prices for Atlanta, Georgia real estate are influenced by the local inventory of homes, the rate of household formations, and employment numbers for the area.
Price point also influences Atlanta listings. In an area with stagnant incomes and a growing number of households, the lower price properties will be in more demand than higher priced homes, whether they come in the form of a condos or detached homes. Our real estate experts at RE/MAX can go over the local market with you. We can help you make an informed purchase decision and compare options before diving in.
If you work in the city and wish to remain close to all the activities that Atlanta provides its residents, you may find condominiums to be the best option for obtaining the amount of livable space you want, while staying within your budget.
Condos have amenities like pools and gyms. The cost of upkeep, amenities, and other expenses is shared by residents of the community. There are different types of covenants, conditions and restrictions at different communities. Some do not allow pets and some even offer flexibility to allow you to rent the unit to someone else. Each condo complex is different, so when you meet with one of our RE/MAX agents, we’ll get a list together of all the needs and wants you desire in a condo and go from there.
Single family detached homes will most likely require a bit more of a commute to work and to other convenient locations you utilize. In exchange for the added privacy and outside space, you are responsible for maintaining the property and structure yourself, this is especially essential if you’ll live on a property under HOA. If you travel frequently or aren’t up for taking on the task of landscaping your property, you need to make arrangements for a lawn care service to come around and visit a couple times a month. But, many people can’t put a price on the satisfaction and enjoyment they get from owning real estate without the consideration of other residents like they would in a condo and gardening or barbecuing in their own private backyard. So there are certainly perks to owning your own property and the privacy and free-range that comes with it.