Buy a Condo Vs a House Investment – How to Make Wise Buying Decisions
If you’re a home buyer looking for an investment property, detached homes may be a good choice for you. They offer a lot of benefits compared to renting, and many home buyers are turning to this type of real estate purchase. It’s important that you consider some key factors, however, before you buy your first house.
Detached house investment offers a lot of flexibility for people who don’t want to commit to a long-term rental agreement. Most detached homes are selling for less money than single family units, so it’s possible to make a profit even if you choose to buy a house with less than the average sales price. However, with this option in low demand, you should still check out the following key points to help you determine whether a condo vs a house investment would be better for you. Here are the top two reasons why buying a condo is a much better choice than buying a house:
If you’re a smart home buyer, you’ll know that there are lots of tax advantages when you buy a condo instead of a house investment. If you own a condo instead of a house, you won’t have to pay property taxes every month. This is a huge advantage if you can turn a profit at the end of the year. Just make sure that you find out whether your condo is subject to local property taxes, because it would be a waste of money if you bought a house without checking first.