Condos vs Homes, Which one is Right for You? | Arty Apt

The Geography Factor
Some areas, particularly rural areas, simply do not have a considerable amount of condominiums to make that option a viable consideration. Other areas, such as Brand new York or other densely populated urban areas present a short supply of single-family homes. Suburban markets such as Huntington Beach provide a large selection of options for both houses and condos. Currently there are approximately an equal amount of homes and condos for sale in the Huntington Beach real-estate market. An additional geographic factor to take into account is proximity to work, shopping and schools. Senior residents who no more drive might be much happier in a condo near to everything than in a single-family home in a secluded area.

Life-style Factors

The choice between a condo and a house is influenced by your step of life. A young couple, just starting out and with limited funds and no plans for beginning a family might locate a condo the better option. A residence can be just the ticket, as well, for the empty nesters who look forward to a spot with less servicing and yard work. The single-family house option has strong appeal to families in the kid raising step of life. A detached house with a yard and perhaps even a pool has positive aspects for families with kids who need room to play. Aside from family size, from time to time attitudes towards maintenance, preservation and yard work will factor in the decision to purchase a home or a condo. Another factor to think about is amenities. Some condo complexes present swimming pools and possibly tennis courts which might be very challenging to afford when purchasing a single-family home.

Investment Potential

Condos and single-family homes both respond to market circumstances. When costing is rising they both appreciate in value. When price ranges fall, both lose value. Overall, in a suburban area just like Huntington Beach, condos tend to be less expensive to buy than single-family houses yet both respond to market fluctuations. As an example , in the Huntington Seaside real-estate market since the 1st of the year 279 single-family homes have sold. The average sales price level was $704,638. The maximum amount for a home sold during that period was $3,500,000 and the minimum sales price range was $240,000. During that same period, 180 condominiums sold for an average charge of $347,917. The maximum amount for a condo sold during that period was =$1,175,000 and the minimum price level was $60,000. All of these figures show an excellent diverseness in both houses and condos with each supplying high-end, moderate and low price options. For individuals who can?t think of $240,000 for a house as being low cost, keep in mind that Huntington Seaside is right on the coast in Southern California.

Georgette Adanas has been writing articles on Huntington Beach condos for sale since 2003.

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