January 29, 2008

House or Condo: Which is the Better Investment?

Although houses historically appreciate better than condos, occasionally the reverse happens. It's really a case of supply and demand, driven by demographics.

Typically, condos appeal most to the youngest and oldest segments of the population.

But keep in mind, one of the downsides of condo ownership is that you have limited control over the expenses you'll pay in common with other owners through homeowner association fees and assessments. You have no control over insurance costs, and special assessments an association management company may impose to replace a roof or upgrade landscaping, and with a single-family home, you control these things.

As the owner of a single family home, you definitely have more control over your expenses, at the very least, giving you an opportunity to shop around for the best prices on things relative to your investment.

To determine whether a house or condo is best for you, talk to us. We'll help you decide what's right for your particular situation.

Remember, Philadelphia real estate is our specialty. If you're looking for real estate anywhere in the Philadelphia, PA area, including: Center City, Art Museum, Bella Vista, Northern Liberties, Old City, Queen Village, Society Hill, South of South, Washington Square West, Chestnut Hill, East Falls, Fishtown, Manayunk, East Mt. Airy, West Mt. Airy, Overbrook Farms, Roxborough, Spruce Hill, University City or one of the many other areas we serve, we'd love to help you find the home of your dreams. If you'd like to search for Philadelphia real estate now, just click the "Search for Philadelphia Real Estate" link at the top or bottom of this page.