Since Covid-19, now more than ever, people are working from home. One huge advantage to working remotely is that homebuyers are able to purchase homes further from their jobs, in a preferred location. With location not being a factor, the options for the type of home increases. Below are some pros and cons of each:
Condo
A home that forms a part of a cooperative association for the maintenance of common areas. Think of it as an apartment that you own. Condos usually cost less to purchase and may have community amenities, but they are usually less spacious, come with association fees, and tend to appreciate more slowly. Townhome A bridge between a condo and a single-family home, townhouses are attached multi-story homes. Many of the disadvantages of condos apply. Single-Family Home More privacy, more space, all the comforts of a complete property. They tend to be found in more suburban or remote areas and may be situated on larger plots of land. Single-family homes increased in popularity during the pandemic due to the demand for home offices and no more need to live close to a workplace for a short commute. Multi-Family Home Duplex, triplex, or small apartment building. Great for “house-hacking” — living in one unit and renting out the other units for extra income.
9 · 2023 Buyer Guide
Powered by FlippingBook