Are you looking into a home that you can purchase and call your own, but not sure about which type to buy? Condos and townhomes can be very appealing, but they all have their own disadvantages compared to a single-family home. Here is why buying your own house is the best choice for purchasing real estate.
No Shared Walls
One main reason that many people want a single-family home is because they no longer have to share walls with their neighbors. A condo is too close to the living situation of an apartment, where you share walls, floors, and ceilings with tenants that surround you. It can cause you to hear their footsteps when they walk across their condo or hear music and television sounds from neighbors that share a wall with you. This is something that you never have to deal with when you own a single-family home. If you're being too loud in a single-family home, the noise is likely at a level that is unreasonable.
Condos and townhomes often require that you pay a monthly fee that goes to the homeowners association, which pays for improvements to the building or to make repairs. While it can be a good thing that the maintenance issues are taken off your plate, that also means you have no control over when maintenance is done and how much it costs. For example, if the building owner decides to replace the roof, you'll have no say in what type of material is used for roof replacement.
Having the management of the building handled by another person means you can be hit with a special assessment. This is done when the HOA doesn't have the money to pay for a repair, so they request that all owners chip in and pay a one time fee to cover the cost. For instance, the building may be in need of new windows, and you'll end up having to pay your share if you want new windows or you don't.
Consider how much you really want to have a yard, because it's a big benefit of owning a single-family home. While a townhome may have yard space that is your own, it will be a very narrow strip of land that matches the width of your home. It is barely enough room to do anything with it aside from having a BBQ grill and a few flower beds.