Choosing a condo or a house is a big decision and making the right choice for you and your family is an important one.
One of the benefits of condo living is that you do not have yard work to maintain, or the outside of the building painting and upkeep. For many buyers either first time young buyers starting a career or empty nesters this is an important benefit.
Condo or House
But along with the freedom of not having to maintain the outside of the complex comes the not having a decision on what is done and when the work gets done. This is a decision of the strata council. The condo owner can put in a recommendation to the strata but the actual decision is the councils. The council is voted in at the AGM and often it is a simple matter of putting up your hand and volunteering to be on the council.
When you buy a house then you are responsible for the upkeep of the outside of the home, the roof and the landscaping. Either you do it yourself, or hire a company to do it. The money you save on strata fees goes towards maintaining your home so the savings might not be what you think they will be.
If you know anyone living in a condominium ask them what they like or dislike about their building. If you are considering buying in a strata ask for and read 2 years of the minutes. This will give you a good idea of how things are run and managed. You will also read if there are any big maintenance expenditures coming up in the future and if they have enough funds to cover the work.