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Should you purchase a house or a condo? This is a debate that has been around for decades. After all, a house and a condo each offer their own set of pro’s and con’s. The truth is, there is no right answer. The answer to this question depends on what you are specifically looking for in your purchase. So how do you decide which one is for you? Here are a list of pro’s and con’s that will help you in understanding if either a house or a condo is right for you. Of course, don’t forget that using a mortgage broker or real estate agent to make your decision can be advantageous as well.


Pro: A house offers more freedom.

When living in a house, you have the opportunity to enjoy a lot more freedom as well as independence. With a house, you are in control of nearly every aspect of it. Do you want to have a garden outside? Do you want to paint the house a specific color? Do you want to put up Christmas lights all over the house during Christmas? The sky is the limit when you own your own house, and owning a condo does not give you this same level of freedom.

Pro: A house offers more privacy.

With a house, you are able to enjoy more privacy. Unlike a condo, you will not have anyone right next door that may be able to hear you in your own home, or otherwise notice who is arriving and leaving. If you value privacy, a house is a better option than a condo.

Con: Houses require more maintenance

If you are not comfortable performing house maintenance or you otherwise don’t have the time, a house may not be the best option. When owning a house, you will face the inevitable maintenance that will need to be performed. This can be costly, and quite time-consuming. With a condo, a lot of these repairs will be taken care of, and you will not have to deal with the hassle.

Con: Houses aren’t always move-in ready.

When you purchase a condo, you should have no problem immediately moving in to the condo. Condo’s are usually move-in ready, and are basically set to move in to from the start. A house on the other hand may be purchased with a need for certain repairs, or utilities that have not yet been set up. If you wish to move in immediately, a condo may be a better option.


Pro: Condos have amenities.

When you purchase a condo, you are also purchasing access to many different amenities. While it can vary depending on the condo, most condo’s should have some sort of pool as well as a gym. Basketball courts, ping-pong tables, and other recreational activities may also be included in the purchase of a condo. In addition, a condo may even have a rooftop terrace.

Pro: Condos are easier to maintain.

When you purchase a condo, you will have access to a maintenance crew that will take care of the many issues that should arise with your purchase. Owning a condo requires less maintenance, and this can be important for many people in today’s busy world.

Con: Condos have monthly fees.

A downside to condos that many people do not like is that condos usually have some sort of maintenance fee. These fee’s cover condo maintenance as well as some of the amenities that you will have access to. While having access to these amenities is nice, many people are looking to avoid fee’s all together when purchasing a condo. If you are concerned about paying any monthly fees, a house may be a better option.

Con: Condos can be more noisy.

If you wish to avoid noise, you may want to avoid purchasing a condo. When you own a condo, there is always the potential for noisy neighbors. In addition, while a maintenance crew that takes care of the building can be appealing, it’s not as appealing when they perform work on the building that coincides with your sleeping schedule or other times when you need peace. With condos, you are giving up some control over your surroundings, and this can include the noise.

So what’s your preference? Let us know in the comment section below.

Caitlin Wood, BA avatar on Loans Canada
Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

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