Looking to purchase your first home? Not sure if you want to purchase a single-family home or a condo? What you purchase will be determinant on your thoughts about the below information. Take a look at the various differences between single-family homes and condos and decide the pros and cons for yourself.
Location: Based on your price range, you will typically be able to purchase a condo in a location where you would otherwise not be able to purchase a home. But in return, you are often getting less square footage, closer by neighbors, and smaller outdoor living space. If you sacrifice a downtown city location for a location right outside of the city, you will get more for your money. Do you want to be able to walk to restaurants, shops and maybe work or is a home with free parking a more attractive option to you? It all depends on what is most important to you.
Privacy: There will be less privacy when owning a condo versus a home, as neighbors are much closer. Condos typically share a wall with one another, some on just one side and some on both sides. This is an important detail to take into consideration when deciding between a condo and single-family home.
Additional Costs: HOA fees or homeowner association fees are monthly fees that condo owners must pay. The fees cover things such as utilities, reserve and contingency funds, amenities, maintenance and repairs, which includes lawn care, snow removal, trash removal, exterior upkeep, etc. These costs vary depending on the condo amenities and policies. However, it’s important to be aware that there is the possibility that these fees increase if there is not enough in the reserve to cover unforeseen costs. When owning a home, there are no HOA fees. This means that a homeowner needs to be cognizant of the additional costs of owning a home. Will you purchase a lawnmower and snow blower or hire a service? Will you have the additional funds to pay for unforeseen expenses? These are important questions to consider.
Restrictions: Owning a condo has some limitations as there will be restrictions that would not exist when owning your own home (unless you purchase a historical home). There are often restrictions dealing with the exterior of your home, parking restrictions as well as having certain barbecues on decks.
Condos are an attractive choice for those looking for a low maintenance lifestyle. And owning and maintaining a home will take more work on the homeowner’s part. It’s important to figure out exactly what you want out of a home before you decide on one or the other, but knowing the difference between a single-family home and a condo is a first step.
Tips to sell your home fast!
If you want to sell your home quickly and provide the appeal that buyers are looking for, there are a few things that you should know about in relationship to what buyers are looking for. Buyers look for clean, inviting properties that they can see themselves in. Below, you’ll find the tips to help you create that appeal.
What Does The Home Look Like From The Curb?
The first impression that buyers will get from your home is what it looks like from the curb. Your yard should appear neat and inviting when potential buyers pull up to the home. This means that before an open house, you should rake up the yard, add some colorful plants or flowers if you don’t have any, and be sure that the lawn has been mowed.
Stage Your Home
As much as you think that lighting candles and organizing the inside of your home just so is slightly over the top, do it. Everything in your home should be neat. Don’t leave unsightly papers laying around or furniture in disarray. Prepare your home for an open house as you would for a magazine shoot.
The first place most people start their home search is online. If the photos of your home on the listing aren’t high quality and fail to give a good visual of the home, buyers will scroll right past it. You can even integrate video tours with the listing as well. To get people to attend an open house, you need to get them virtually interested first.
Make Updates If You Know That You’re Selling
There are certain changes that just look great on a home. These include updated appliances, new cabinets, bathroom updates, and new flooring. Updating these things also can facilitate a big return on your investments. Buyers love homes that don’t need a whole lot of work- especially in the kitchen and the bathroom. They are willing to pay for these luxuries.
Know The Market
Hiring an agent who knows the market is one step in the right direction to selling your home fast and easily. Your agent will help you to price your home appropriately based on many factors including the neighborhood, the size of your home, and the demand that is present in the market. Price a home too high and you’ll leave the home sitting on the market for an extended period of time. If the home is priced too low, you could end up in the middle of a bidding war. Worse, buyers may wonder what’s wrong with the home that it is priced so low.