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Condo Vs House: Which Should You Buy?

Condo Vs House: Which Should You Buy?

With the price of housing predicted to start dropping by 5% in 2023, many people will finally be able to start looking into purchasing a home.

The first question for people looking to buy their home is what type of property would best suit their needs. The two main properties to choose from are a detached home or a condo.


Having a house with a white picket fence is a dream many have. A house passed down for generations is often a symbol that you have “made it.” However, owning a home is only for some, and many cons may make the pros seem less enticing than previously thought.

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  • Typically, houses have much more space than a condo. Homes will often have a front or a backyard.
  • More privacy. You won’t share a wall with your neighbours!
  • No restrictions on pets. Even if you are a condo owner, it is up to the strata board if you are allowed pets.
  • You can upgrade your home’s interior without approval from the strata.
  • You own the land the house sits on.
  • According to Zillow, housing prices have increased more significantly than condos over the past few years.


  • More expensive. Simply due to the bigger nature of a house (even if the home is older and doesn’t have as many quality materials, appliances, etc.), it will be considerably more expensive than a condo.
  • A house requires more responsibility regarding basic upkeep and maintenance. There is usually a lawn to mow, and you need to coordinate repairs should they arise.
  • Houses are often further away from the center of a city. If you need to drive to work daily, this is something to consider, especially with rising gas prices.


Many people enjoy condos because they like to live in the middle of the city. It’s nice to walk to any of the amenities you need. Plus, only some people need or can use the square footage of an entire house. Depending on your needs, a condo may be the right choice.

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  • Cost-effective. Not everyone needs the space a home offers.
  • Some condos have gyms, pools, and other amenities at your disposal.
  • Most condos have a maintenance crew, so if there is an issue with your condo, it is easy to fix it.
  • Less general maintenance and repairs. No lawns to cut, roofs to repair, etc.
  • Less travel time if you work in the city.
  • If you need to access public transport, many condo buildings are located near bus stops or subway stations.


  • Almost all changes to your condo must be approved by the strata council.
  • Condominiums often have a weight restriction on pets or do not allow any.
  • Less privacy. Even if you have a corner unit, you will have at least one neighbour directly next to you with only a single wall of separation.
  • A monthly condo or strata fee will often go towards general maintenance and amenities.
  • You only own a unit, not any land.
  • If you plan to have children or may need extra space in the future, a condo may be unable to accommodate those plans.

Condos and homes both have their benefits and their downfalls. Often, people only think about what they need in the present. However, it would be best to consider how your future may pan out. A third option also sits in the middle of these two – that being a townhouse.


A townhouse lies in between a condo and a house. You have more square footage, and you typically have multiple floors. It’s similar to owning a home, yet they remain cheaper and usually have some essential maintenance taken care of, similar to a condominium.

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  • Less expensive than a house. Townhomes are cheaper than detached homes, and unlike a condo, you own the land it sits on.
  • Usually, townhomes have multiple floors; some come with a small lawn or patio.
  • Some also come with an attached garage versus the parking spot provided in a condo.


  • Strata, like a condo, control them. You will have less freedom to make changes like you would with a house.
  • With being part of the strata comes the strata fees.
  • While you have more space than a condo, you must share at least one wall with two neighbours. Unless you are lucky and get an end-of-the-row unit.

Get In Touch!

We are confident you will find a place ideal for your needs within these three options. Regardless of your decision, getting your property insured is always smart.

We recommend getting quotes from multiple insurers to ensure you get the best price for the best coverage. Luckily, that is our specialty at Harbord – The Home Insurance People. You can send us a message or call us at 1-844-544-4663.

We look forward to hearing from you!

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