condo vs house calculator

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Determine your New York City closing costs with this easy to use calculator. Includes a detailed. property basics. Are you the Buyer or Seller? Buyer Seller.

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Should You Buy a Condo Instead of a House? By Suze Orman. Photo: Robert Trachtenberg. Q: My spouse and I have been considering a home purchase, but every time we begin looking, the plummeting prices give us cold feet. Is buying a condo a smarter move? The prices seem less risky.

Buyers can choose between a traditional house or a condominium when purchasing a home. Aside from location, housing type is one of the most important decisions you must make. Homeowners purchase.

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The home sale proceeds calculator is intended for planning and educational purposes only. All calculations and costs are estimated and no warranty, express or implied, is made that all possible costs have been included.

No matter the layout, a condo is not a house. Most condos are single-story apartments. That means the overall square footage of a two-bedroom condo might be smaller than that of a two-bedroom house. Certainly, it may feel more compact-you won’t have the hallways, windows, stairways and other features that impart a sense of space to a residence.

Buying a condo allows you to wade into homeownership without plunging into the responsibilities of a single-family home. Before you buy a condo, ask the right questions to avoid making a mistake.

Utility bills are higher in a single-family home than in a condo, too, since you’re responsible for more space. In condos, like apartments, residents outsource the heavy maintenance work. You’ll pay a fee, but you won’t have to shovel the drive or clear off fallen branches after a storm.

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Use the rent vs. buy calculator at to make the right rent or buy decision. Find out which option is best for you, buying a house or renting a home.

Condos tend to be less expensive than single-family houses in the same area. Condos that are newer or with fewer amenities tend to have lower maintenance fees. In general, condos typically have better security compared to houses. Whether you’re buying a condo or a house, the property should be thoroughly inspected as a contingency of purchase.