Condo vs. House: Which One Fits Your Massachusetts Lifestyle?

By Chris Doherty

Christian Doherty lists and sells more homes than any other agent in the Greater Lowell, Massachusetts market with over 300 homes sold in the past 12 months. Chris is ranked in the top 1% of all agents in the United States.

Is buying a condo a better option than a house? If you’re considering buying a property but are hesitant about the maintenance required for a traditional house, it’s worth exploring alternatives. You might want to consider a condo instead. I’ve sold and invested in a lot of condos, and I’ve found they can be the right choice for many buyers, but there are a few things you need to understand first. Let’s break them down.

What is a condo? A condominium is a type of ownership where you own the interior of your unit, but share ownership of common areas and exterior structures with other unit owners. These shared areas are maintained by a homeowners association (HOA), which all owners are members of. This structure reduces your personal maintenance responsibilities but comes with shared governance and financial commitments. If you’re opting for a condo, here are some things you need to understand.

1. Monthly HOA fees. Condo owners pay a monthly fee to the HOA, which covers services like snow removal, landscaping, building maintenance, insurance, trash, and often water or heat. Some fees also include amenities like elevators, parking, or on-site management. These fees vary based on what’s included, so it’s essential to review the breakdown. It’s worth noting that a higher fee may still be cost-effective compared to maintaining a single-family home.

2. Rules and regulations. Every condo association has rules that owners must follow. These cover things like pet ownership, smoking policies, balcony use, and rental restrictions. Buyers often overlook these rules until it’s too late. Before purchasing, review the condo documents to ensure the rules match your lifestyle, especially if you own pets, smoke, or plan to rent the unit.

3. Association governance. Condos are managed by an elected board of trustees who oversee budgets, repairs, and policy decisions. Owners can attend meetings and vote on issues. The frequency and structure of meetings vary by property size. This could be held monthly, yearly, or even not at all. Whichever’s the case, staying informed helps you understand how your fees are used and how major decisions are made.

Why choose a condo? Now that you know how condo ownership works, you might still be wondering if it’s the right fit. If you’re unsure whether giving up full control is worth the trade-off, here are the real-life benefits that make condo living appealing for lots of buyers.

1. Lower cost, higher value. Condos usually cost less than single-family homes in the same area. For the same price, you often get a more updated interior or an even better location. If you’re on a limited budget, a condo can also offer better value for your money.

2. Low-maintenance living. Exterior repairs, yard work, and seasonal chores are handled by the association. If you travel, have a busy schedule, or just want to avoid property upkeep, a condo provides peace of mind without the ongoing workload.

3. Built-in community. With neighbors close by, condos often foster a supportive, connected environment. It’s easier to rely on each other for help, and there’s a greater sense of safety and collaboration, especially for those who travel or live alone.

4. Social and community benefits. Most condo communities hold events like cookouts and holiday gatherings. This encourages interaction and adds value beyond the walls of your unit. Even in quieter buildings, the shared environment often leads to stronger neighbor relationships.

If you’re trying to decide between a single-family home or a condo, consider your lifestyle, budget, and how much maintenance you’re willing to take on. For many, condos offer the right balance of ownership and convenience.

Thinking about buying a condo or already own one and want to sell it? I’m here to help. Feel free to call me at 978-746-0124 or send an email to chris@dohertyproperties.com. I’d be happy to help you find the right fit or get top value for your property.