Once you’ve started saving up for a down payment and are ready to dive into your property search, you’ll be able to choose from a wide variety of properties in your ideal area. At first, one of the hardest decisions will be what type of property to invest in—such as a unit in a condo or a standalone house. If you’re having trouble narrowing down your search, take advantage of this closer look.

What to Know About Buying a Condo

One of the main advantages of condominiums is that they tend to be priced lower than houses, even when the square footage is generally the same. This may be due to the fact that there isn’t as much separation between the living spaces—while homes have lawns and backyards, many condos share floors, ceilings, and certain walls. 

On the other hand, they don’t require as much work to maintain. Since you likely don’t have to repair cracks in the driveway, mow the lawn, or patch the roof, you can save money in the long run—or spend more on the interior living space. Some condos are even managed by associations that will take care of issues with main utilities, such as electrical and plumbing systems, for residents. If they don’t offer services, they'll have a list of local references to help condo residents get in touch with the right professional.

Condo owners may also have access to amenities like pools, parking, and gyms. While communal, these may be much higher-quality or larger than what a homeowner with the same budget could afford to have on their property. You're also more likely to be in the city and able to conveniently enjoy the nightlife.

How Buying a House Compares

If you opt for a home at the end of the property search, you'll enjoy more freedom than a condo offers. Since you’re not under the same roof as dozens of other families, the choices you make when updating or maintaining the property won’t be as policed. If the house is in a neighborhood that's managed by a homeowners association, however, keep in mind that there will be regulations regarding many potential alterations.

In addition to freedom, you’ll also have more peace and quiet as a homeowner. With space on all four sides of the property, you won’t have to worry about bothering the neighbors with your surround-sound home theater or band practice. A private pool or gym is another big selling point for a house. 

On the other hand, homes can be more time-consuming and costly to maintain. From gutter cleaning to driveway repair, you’ll need to add several homeowner tasks to the budget. It’s also important to consider the location of a home compared to a condo—the ideal property is more likely to be farther away from downtown areas.

When you’re ready to invest in a property, turn to Fletcher Bright Realty of Chattanooga, TN. Since 1927, these real estate agents have been guiding residential and commercial clients through successful property searches. Whatever your budget or preferences may be, you can trust their judgment to lead you to the right condo or home. To learn more about their services, visit the website. Call (423) 752-0188 to set up an appointment with a real estate agent.