Condos vs. Houses: What’s Best for the Raleigh Home Buyer?
When relocating to Raleigh, it is important to understand the difference between condominiums and houses, and figuring out which one is best for you.
Which Housing Option is Best for you?
When it comes to deciding what type of home you want to purchase in Raleigh, you have to look at the pros and cons of all options. The preference for each person may differentiate based on many factors. Whether you choose to purchase a condo, or a detached home, Raleigh has a variety of options to choose from.
When you are weighing your options on which type of home you would like to purchase, it is important to understand the difference between these options like:
The difference in cost
Location
Type of maintenance
Proximity to neighbors
What is a Condo?
A condominium, also known as a condo, is a housing complex where there are separate units. Each one of these units are individually owned. Condo owners are responsible for what goes on within their personal units, including maintenance and repairs. People who live in condos are also in charge of paying regular fees to a condo association. These fees go towards the maintenance of the shared common areas, amenities, and the exterior of the complex.
29 Enterprise Condos coming to The Village District in 2024 from Builder/Developer Grayson Homes
As Raleigh grows, more people are flocking to purchasing condos in the city. Condominiums have become a big part in the Raleigh real estate market and will continue to be a popular choice as the city blooms.
Pros and Cons of Living in a Condo
Living in a condo comes with pros and cons.
Pros:
A great decision for those looking to purchase a starter home/flexible living
Perfect for those looking to downsize
Plentiful of amenities
Less upkeep
Cheaper than single-family homes
Can be located directly in condensed areas - which is a great option for those who are looking to live in proximity of stores, offices, restaurants, etc.
Cons:
Limited privacy
HOA restrictions and fees
Less square footage
No land ownership
Single family home by Speight Built for sale in Downtown Raleigh
Single family home in Mordecai by Urban Building Solutions available for presale.
Benefits of Living in a Detached Home
When home buyers relocate to Raleigh, the first type of home that normally comes to mind is a single-family detached home. Buying a single-family home is a great option for those who are moving to Raleigh and are: first-time home buyers, families, and retirees. A benefit of living in a detached home in Raleigh is that you own the land, the home, and everything inside. You are free to do whatever you want inside your home. You can do the same to the outside, but can be restricted if you have an HOA.
Another benefit of living in a detached home is that you have more privacy then living in any other type of home. Depending on how big your lot is, your home can be quite a distance from your next door neighbor. A great thing about living in a detached home is that you have no shared walls or floors, which is the main difference from a condo.
MAKING A DECISIONRaleigh’s real estate market is thriving as more homes are being sold and more residents are moving in. Whether you are more interested in a condo than a single-family detached home, or vice versa, there are a variety of options on the market. Are you ready to make your move to a condo or single family home in the Raleigh area? Send us an email or call/text 919.273.5051 to be setup on a custom MLS search today!