Condo VS Home

There are advantages to owning a condo over owning a home and vice versa.

Advantages to owning a home v. a condo;
-No association dues
-No association rules and guidelines to abide by
-Your own private yard and property
-Larger buyer audience

Disadvantages to owning a home v. a condo;
-Maintaining your home i.e. lawn maintenance, snow removal,
-Outside repair of your home is your responsibility, example; roof replacement and repair is your responsibility

Advantage of owning a condo v. a home;
-The common areas and the outside of your condominium are maintained by your condo association. These are some of the things that most condo associations maintain on your behalf with the association fees that you pay; grass cutting and fertilization, snow removal, water usage, roof and gutter replacement, maintenance of all condo community common areas.

*NOTE -Taxes are not usually included in the condo association dues.
-Common areas which sometimes include a club house, pool, tennis courts, etc.
-Easier to rent because of lack of outdoor maintenance responsibility

Disadvantages of owning a condo v. a home
-Recent new implementation of financing rules makes it increasingly difficult to obtain financing on Non HUD or Fannie-Mae Approved condo association projects making it more difficult to buy and sell condominiums
-Must abide by condo association rules
-Permanent improvements or additions to the outside must be approved by your condominium association prior to completion i.e. landscaping, deck, patio
-Lack of private property and privacy
-Costly and sometimes fluctuating association dues