Home Trends From Sylvain Bourgon

Sylvain Bourgon

CONDO OR HOUSE: WHICH FITS YOUR LIFESTYLE? Deciding between a condo and a single-family home comes down to more than the purchase price. Consider your budget, lifestyle and how much responsibility you want for maintaining your property. Condos may have a lower purchase price than single-family homes in the same area, but owners typically pay monthly condo fees. These can cover shared maintenance, building operations, insurance, common areas and contributions to a reserve fund for major repairs. Depending on the building, fees may also provide access to amenities such as parking, a concierge, gym, pool or shared spaces. With a house, you’re responsible for the ongoing costs of the entire property, including the mortgage, property taxes, utilities, insurance, maintenance and repairs. That can include everything from yard upkeep to replacing a furnace or water heater and handling unexpected repairs. Before buying, look beyond the listing price and monthly condo fees. Compare the full ongoing costs of each option and consider how much time and responsibility you want to take on. There’s no universal winner between a condo and a house—the right choice depends on what fits your lifestyle and budget. A mortgage specialist or real estate agent can help you weigh the options.

Direct: 613-323-3241 | Office: 613-590-3036 | www.BuyAndSellOttawa.ca