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Condominium or house: Which is right for you? Jonesboro GA

Condos and houses have their advantages and disadvantages. Use our chart to help compare your options.

Local Companies

Georgia Commercial Mortgage Inc.
678-610-1383 0ffice or cell 404-316-1113
9228 Riverchase Way
Jonesboro, GA

A Precise Process Company
(770) 892-4200
7107 Thoreau Cir
Atlanta, GA

Capitol City Bank & Trust Company
(404) 752-6067
562 Lee St SW
Atlanta, GA

1st Commitment Mortgage Services, Inc.
678-205-0506
8200 Mall Parkway
Lithonia, GA

Ascent Home Loans
404-519-5383
55 Leslie St SE
Atlanta, GA

1st American Capital LLC
(404) 588-5500
191 Peachtree St Ne
Atlanta, GA

1st Metropolitan Mortgage
(678) 237-4000
1465 Northside Dr Nw
Atlanta, GA

Starr Terrell A Rl Est
(770) 477-1392
2735 Edgewater Ct
Jonesboro, GA

Real Estate House Buyers
(770) 251-9421
5 1/2 W Washington St
Newnan, GA

Ratchford Steve Rl Est
(770) 416-7100
4351 Quail Ridge Way
Norcross, GA

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Be it in New York, Atlanta or Miami, the condominium market is thriving, with modern towers and low mortgage rates luring would-be home buyers with the possibility of building equity at rent-like prices.

Should you join the condo club or go for a more traditional home? Consider your lifestyle and weigh the pros and cons of each before deciding which to buy.

Condominiums
Pros	Cons
Easy upkeep: Do you lead a busy life? A condo can offer you a comfortable home free of yard-work and home-maintenance responsibilities. If you’re not a hands-on, do-it-yourselfer, having a maintenance crew take care of the upkeep is a definite plus.	Condo fees: Most condominiums have monthly maintenance fees. The money goes toward the collective upkeep and development of the property. Combine these fees with monthly mortgage payments and you can sometimes end up paying more per month for a condo than a house of equal value.
Location: A condo provides the option of living right in the heart of the city. Many urban condos are also within easy walking distance of amenities such as grocery stores, dry cleaners, restaurants, cafes, shops and theaters. A home in the suburbs can mean jumping in the car to complete even the smallest of errands.	Shared decision-making: How your condo fees are spent is the purview of the condominium board. You could find yourself subsidizing the salary of a concierge or the maintenance of a parking garage you don’t use. And what if you want to do some renovations? Yes, the condo board decides that, too.

Houses
Pros	Cons
Family friendly: With their own yards and generally more square-footage, houses tend to be more family friendly. A fenced-in backyard for children to play in can be a big benefit. Plus, a house allows the option of having pets that may not be permitted in a condo.	Upkeep: When you own your own house, you’re responsible for all the maintenance. The bigger your property, the more time and money you can end up sinking into it. The upside is that money you put into home improvements will likely pay off in terms of a higher resale value.
Extra living space: Not only do kids need space, so do most grown-ups. If you’re a couple, you have to determine how much time you will be spending together at home and whether or not you need quiet, private rooms. The same is true if you work from home or have a hobby that requires dedicated space.	Additional items: All the extra space a house provides can have a downside. You need to fill that space with additional furniture. You also need to buy extra items to maintain the garden. And you can expect to have higher heating and/or cooling costs with a bigger home.

Of course, regardless of whether you buy a house or a condo, it’s important to do your homework and consider the future of the neighborhood you’re buying into. The old axiom of “location, location, location” remains true for both. Each is a significant investment, and you need to find a safe and vibrant neighborhood capable of nurturing your investment into the future.

Published on January 12, 2007

Read full article at realestate.com

Featured Local Company

Georgia Commercial Mortgage Inc.

678-610-1383 0ffice or cell 404-316-1113
9228 Riverchase Way
Jonesboro, GA

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Related Local Event

2Nd Annual Real Estate Industry Day
Dates: 9/18/2009 - 9/18/2009
Location: Holiday Inn Decatur
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Condominium or house: Which is right for you? Jonesboro GA

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