If you’re thinking about making a move to Hudson County, you may also be debating between a traditional home or a condo. Although both types of properties offer distinct advantages, there are some differences you’ll want to know about before you buy.
The Differences Between Condos and Single-Family Homes
Determining the type of home you should buy all comes down to personal preference. If you’re dreaming of a maintenance-free lifestyle with a little less freedom, a condo could be a great fit for you. However, traditional homes often come with more room to roam…as well as additional responsibilities.
Not sure which option is right for you? Here’s what makes condos a bit different than single-family residences.
Different type of ownership
When you purchase a conventional home, you’re buying the actual house and the land around it. This isn’t necessarily the case when it comes to condos. When you own a condo, you only own the interior of the unit, which is called “fee simple” ownership.
While fee simple ownership does limit what you can do to the outside of your unit, you won’t have to worry about any exterior maintenance (more on that later!).
A more affordable price tag
Because they tend to be smaller in size and don’t come with land, condos are usually less expensive than single-family homes. In fact, according to a recent study by the National Association of Realtors, the average condo costs $10,000 less than the average house!
Here in Hudson County, it’s easy to find a condo that suits your price point. However, if you want to splurge, we also have plenty of luxury units that come with more space, amenities, and features.
Little to no maintenance
One of the biggest perks to condo living is not having to maintain your unit’s exterior. That means you’ll never have to mow a lawn, clean gutters, or shovel snow ever again. Instead, you can spend all that extra time relaxing by the pool or just exploring the excitement of Hudson County.
Plenty of amenities
Many condo communities also come with top-notch amenities, like swimming pools, fitness centers, rooftop decks, and even entire parks. You won’t ever have to leave the comfort of home to take advantage of these spectacular features, either.
Less room to grow
While there are tons of perks that come with condo life, you may have to pay a premium to get as much indoor and outdoor space as a single family home. It’s almost impossible to add onto a condo, and they also don’t come with any land.
Before buying a condo, you’ll want to make sure that it can accommodate your needs now and in the future. Remember—there’s a lot that you can’t change when you live in a condo!
Need Help Finding Your Dream Home?
As your local Hudson County real estate pro, I have the expertise you need to find the home or condo of your dreams. Just contact me, Raj Banerjee, for all of your buying or selling needs. I’d love to help jumpstart your real estate journey today!