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As a first-time homebuyer, you want to make sure the real estate you invest in is ideal for your family, both now and in the future. If you’re torn between getting a house or a condo, learning more about their benefits and drawbacks can help you decide. 

Houses

Pros

A house has the space to accommodate a family. The yard space is yours to customize, so you can install playground equipment, outdoor buildings, or intricate landscaping. It also means you have room for expansion if your family grows.

If the house isn’t part of an HOA, you won’t have any restrictions beyond legal ones, giving you absolute freedom in your lifestyle and decor. A house also offers privacy, as you won’t constantly run into your neighbors. It may also be easier to sell if you decide to move.

Cons

Due to their size and land, houses have higher down payments and mortgage payments than condos. You’re responsible for all maintenance, landscaping, and repairs. Energy and utility bills may be higher because of the larger space, as will homeowner’s insurance and property taxes. 

Condos

Pros

real estateIdeal for individuals or couples, condos may be less expensive than houses, with smaller costs for down payments, mortgage payments, property taxes, and homeowner’s insurance. Because they’re compact, they may also have lower energy and utility bills.

You won’t be responsible for exterior maintenance or landscaping, as the HOA takes care of it. Condos may offer amenities like pools, doormen, and playgrounds, giving you access to features you wouldn’t have had otherwise. They’re also generally close to attractions, shopping, and nightlife, and they offer a sense of community because of the number and proximity of neighbors. 

Cons

A condo may be more affordable upfront, but you’ll be responsible for paying monthly HOA fees. You’ll also be limited to HOA rules, some of which can be strict. There may be limits on moving in new occupants, working from home, setting up exterior decor, or having guests. A condo doesn’t offer room for expansion or growth. You’ll have to be mindful of your neighbors as well since their condos are right beside yours.

 

With a better idea of what real estate property you want, start searching for houses or condos for sale with Oahu Island Properties in Honolulu. With a dedicated team to help you buy property, they’ll connect you with the perfect homes in picturesque neighborhoods across the island through a simple, streamlined process. To search their current real estate listings, visit their website, or call (808) 673-8681 to speak with an agent.

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