What Type of Property is the Perfect One for You?

Moving to the big city can be an exciting adventure. It is where you can discover the thrill of the nightlife. You can also find some great food and be in good company. There are also some beautiful scenic spots in the neighbourhood where you can take some snapshots of the views.

Before jumping into city life, you should come prepared. You may not feel it yet but moving to the metropolis can be a terrifying experience. There are a lot of things you need to put together to survive in the city.

One of the critical things you need to figure out is where you are going to live for the next few years. It is quite a complicated process, and it is better if you start with this before anything else. In the city, you can opt to choose an apartment or a house. To determine your best match, you should consider the pros and cons of each one.

Here is the breakdown:

Condo

  • Pros. A condo’s advantage is its proximity to city life. The security is also a huge plus when it comes to your safety. Condos are also more affordable than buying a house.  There is also less maintenance work to be done because there will be a crew that will specifically do all the repairs. Not to mention that you’ll get exclusive access to various amenities such as a pool, workout gym, or community clubhouse.
  • Cons. The downside with condo living is that you don’t get as much privacy as with houses. There are also more rules to follow since you and your neighbours will have to live by the management’s regulations. So, you can’t just install a solar panel, for example, on top of the condo’s roof if you want to cut energy costs. It is subject to the condo homeowners association’s approval.

Apartment

  • Pros. Similar to condos, apartments have amenities that houses don’t have. You can have access to a gym or a kid’s playground if you buy an apartment. They also have 24/7 security which is a huge advantage. Maintenance is also not a problem as you will only have to worry about your own personal space. Hedge trimming or snow shovelling is not your job.
  • Cons. Much like condos, the disadvantage of apartment living is that you have no privacy at all and there will be leasing rules that you need to follow to be allowed to live there. Also, you have a limited space to work with.

House

  • Pros. Houses can offer you more privacy. They are also a source of pride and a great investment for anyone because their value appreciates over time. You also have the freedom to do anything you want with it since it is your property.
  • Cons. A house has some disadvantages. You will need to make a huge investment that can deplete your savings account immediately after the purchase. You also can’t relocate so easily later if you want to do so.

These are the pros and cons of each type of housing option. If you are still unsure, check out services by Gerald Eve.

 

 

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