With changing times, a change in the property types has been witnessed. With the availability of so many housing options, interested home buyers often feel confused with the best option. So, here in this blog, for your better clarification, we will discuss the basic features of condo and freehold townhomes in Oshawaand find the most suitable for you.
Distinctive features of Condo and Freehold Townhomes in Oshawa
Condo- A condominium is a separate and single building that is built in a community or it can be a group of similar-looking buildings that together forms a locality. Although, new homes in Oshawa can vary according to size, style, and height. These types of homes are, detached from other buildings, and offer a spacious front and indoors. The spacious outdoors is not shared with other houses, but the exterior and lawn are maintained by the homeowners association. Living in condos call for making a monthly payment for the maintenance and repair of the exterior and lawns.
Freehold townhomes- Freehold townhomes are slightly different from condominiums. New townhomes in Oshawaare usually multi-level and attached closely to another house from one or both sides. The owner owns the interior as well as the exterior of the house which means they have the freedom of making changes in the house as per their needs and preferences. The freehold townhome owners are not required to pay any monthly maintenance to the authorities for the repair and maintenance of the lawn or exterior of the house. This gives the homeowners a little freedom in the terms of future finances.
Which property is suitable for whom?
The Millennials- Young couples, families with small kids, and individuals with little homeowner experience should consider buying condominiums. The perks associated with condominiums also make it a better choice for those who have little time for home maintenance. As condos offer a great space for kids and, because of being separated any kind of noise wont affect your neighbors as well. You dont have to be worried about mowing and maintaining lawns as the authorities take care of them, so you can give complete attention to your kids.
Investors- For those who are looking for a type of property that is best for investment, then a freehold townhouse is worth consideration. It has several pros as the owner is not required to pay for condo fees, and monthly maintenance expense is directly eliminated. The freehold townhouse offers freedom and flexibility of making changes as per your taste and preference. The demand for freehold townhomes is rising rapidly, which means that if you invest in a property, it can yield a great return on sale after a few years.
Feeling confused about which property to buy or invest in is quite obvious. So, if you have been feeling the same, then the above-mentioned features are what you will get in a condo which is best for millennials whereas freehold townhomes are the best option for the investors.