House or condo: which is right for me?

Are you considering purchasing a home or a condominium in Vernon, BC or the North Okanagan? Real estate purchases are one of the most important investments you will make in your lifetime, therefore, it is critical that you get it right. When purchasing a home, you are purchasing the home and land that it sits on and surrounds it, however, a condo includes only the living space (or the condo unit), and some common areas.

While homes for sale in Vernon, BC have a great location, other factors that you will need to consider are maintenance costs, safety, space issues and more. There are advantages and disadvantages to both housing options and determining which Vernon real estate investment is right for you will take some research and lifestyle consideration on your part. Here are some points to keep in mind:

• Urban living is becoming popular again and condos usually fit this need, as many are within walking distance to shopping and more. However, many home owners prefer suburban or country settings.
• The amenities, such as fitness centers, pools and more, make condo living an attractive choice for many. When owning your own home, not all of these amenities are available to you and if you want them, you are responsible for them.
• Condos are typically low maintenance and include indoor and outdoor components that cover landscaping, snow removal, and normal maintenance. With home ownership, all of this falls on your shoulders to take care of.
• The association fees associated with owning a condo, many times turn homeowners off from the idea of purchasing a condo. And, the shared decision making is often less desirable for many. Today, many homes are part of home associations as well, so there are incurred fees with both types of homes.
• Privacy is also something you should consider. A condo will not provide you with a ton of privacy, however, a house would give you more privacy.

You are the only one that can answer the question, which is right for me - a house or a condo? It really will come down to your lifestyle and what you want to accomplish with your North Okanagan real estate or your Vernon, BC real estate. Do you plan on this purchase being short-term, long-term or just an investment?

Vernon, BC homes for sale are a great investment, no matter which you choose. Take the considerations mentioned above into account when deciding and do your research. As the real estate market continues to grow, so do your choices. Affordable housing is at your fingertips and yours for the choosing.

For more information on opportunities to purchase houses or condos in the Okanagan, please contact the Salt Fowler Team.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.