Pros and Cons of Buying a Condo or Townhome
Posted on January 16, 2022
Maybe it’s your first home or maybe it’s an investment property. Whatever your reason for purchasing, it is good to know all the pros and cons to buying a condo or townhome.
Townhome Pros:
- More privacy with less shared walls and neighbors
- Ability to renovate and customize inside of home
- HOA services to maintain yards, exteriors and more for the neighborhood
Townhome Cons:
- HOA rules can be more extensive and strict
- High HOA fees
- Resale value might not be as good as you hope
Condo Pros:
- Managed maintenance for yards and exteriors of homes
- Lower cost to purchase
- Good sense of community
Condo Cons:
- Difficult to resale depending on location
- HOA fees can be higher
- Home value may not grow as much or as fast as a single family home
