Why would anyone want to buy a condo if they can own a house for the same price?

Question

What are the pro's and con's?

Answer 1

The condo may be considerable newer, meaning less repairs and home improvement required.
The condo may be in a better neighborhood.
It may have amenities such as rec room, pool, hiking trails. It may have a smaller yard, making it easier and less expensive to care for the landscaping.

Answer 2

The biggest reason is the outside maintenance is done by the Home Owner's Association.

With a baby boomer turning 55 every 17 seconds condo's will be big in the next 10 years.

They don't want to have to deal with cutting the grass, fixing the roof.

They write a check every month to the HOA and that's all taken care of.

Answer 3

Advantages of a condo - The association usually pays for outside maintenance, and keeps all the outsides attractive and consistent throughout the property. sometimes there are shared resources like a pool, tennis court, weight room, party room, etc.

Disadvantages - neighbors close by. Very little control over outside appearance. May have a common wall with a neighbor which may mean there is interior noise from neighbors.

Answer 4

Common areas of condos are taken care of by the association. Folks who don't want to tend landscaping, repaint exteriors, etc would opt for a condo over a separate house.

Personally, I couldn't take living that close to the neighbors.

Answer 5

The first thought would be maintenance. Condo buyers don't have much to do so it is convenient for them.
The second thought is pack mentality. Being in a house not connected to others is scary for some people.

Answer 6

Mainly, because a lot of people are not handy and cannot maintain a house (especially older ones).

With a condo, they can call the super when things are not working (heat, leaks, air conditioning, elevator, etc.).