Los Angeles First Time Home Buyers |Home Vs. Condo-Which is better

Los Angeles First Time Home Buyers |Home Vs. Condo-Which is better?

This is a very common question buyers are faced with now (especially Los Angeles First Time Home Buyers ). Often because there seems to be a lot more "bang for the buck" in square footage and property condition when you compare a Home Vs. Condo.

One of the toughest pills for buyers to swallow is the HOA Dues (Home owner associations dues). These fees over the maintenance of the building/grounds, insurance and most of the time trash and water.

On the other hand, if your strongly considering buying a home for sale in Los Angele, there are also "Home owner dues" but their not called "HOA Dues" Their called "maintenance costs"! And they don't come in a nice neat monthly package. They come in the form of: New roof $20K, Gardner $100 per month, Pool guy $80 per month, and replace this and that $XXX per month. These expenses can really add up and you don't have the benefit of the other home owners of a HOA to share the burden. Let's face it, if the roof is leaking, you got to fix it now!
With a Town Home or Condo, all of those expenses are divided among the other home owners so, if you need a new roof, everyone votes and the burden is shared. It all balances out.

Of course the benefits of buying a house in Los Angeles are: No shared walls, private backyards, less restrictions on what you do to the outside of your property and just a general sense of more privacy.

So whether you are considering purchasing a home or buying a condo in Los Angeles, the truth is, often times you get more bang for your buck in a Town Home or Condo (sq ft, design, etc.) Generally speaking, you will get a smaller, older home in a so-so area for the same price as a condo or Town Home that is bigger, more modern and in a nicer area. This of course is a general and broad statement but typically it is the case.

Home Vs Condo which is better?-Ultimately Location, budget and space may be your deciding factor but whatever you choose, it will be home for you and you're gonna love not paying someon elses mortgage!

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