What are the pros and cons of buying a condo over buying a house?

+1 vote
asked Sep 26, 2017 in Real Estate - Renting by Vera (340 points)
What are the pros and cons of buying a condo over buying a house?

1 Answer

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answered Sep 27, 2017 by Williegumdrop (420 points)
When you buy into a condo it's like living in an apartment. That's really what a condo is. You're still sharing walls and a building with other people.

The only real difference is you own the condo that you're living in.

While you might own the condo someone else still owns the property that the condo is residing on and the rest of the building the condo is built in.

What happens if someone decides to sell the building and land and they decide that they don't want the condo there no more?

They want to put something else on that land? You'd have to give up and sell back your condo to the person and move out.

With a house you actually own the land and the house and no one else can make you move out.

Well unless you don't pay your property taxes.

But with a house you don't share walls with others and have more privacy as well.

I'd go with a house if I was buying.

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