When embarking on the search for your next home in the Alexandria area, one of the first considerations is if you want a condo, townhouse, or single-family home.
The term single-family home refers to a stand-alone residential dwelling set on its own piece of property. No land, utilities, or structural components are shared with any other units.
If you are trying to decide between a single-family home and a condo for your next purchase, read on for advice. Here are five reasons why a single-family home is potentially your best choice.
1. Appreciation and Profitability
A traditional, single-family home has long been considered a better investment than its counterparts. They generally have a faster and greater rate of appreciation.
Rising HOA fees are not only a burden on your wallet, but make it more difficult to increase the asking price when it comes time to sell a condo.
Unless you are more interested in the downsizing than profitability, single-family homes take the win in this department.
2. Space and Privacy
Single-family homes invariably provide not only more square footage but more storage space too. You are likely to have an attic, garage, basement, or even all three.
Privacy is another huge benefit. Even a nearby neighbor to a single-family home does not compare to the overhead footsteps or shared internal walls of condo living.
The location and amenities of condos are often more appealing to vacationers. With the booming popularity of Airbnb and short-term rentals, you are also more likely to find yourself with a new neighbor every weekend in a condo vs single-family home.
3. Your Own Yard
Nothing says home like mowing the lawn or grilling a few burgers in your own backyard.
Besides providing a buffer from your neighbors, you get space to work on projects, hone your green thumb in the garden, and entertain guests.
If you have (or are planning to have) kids or pets, a yard is especially invaluable.
4. Renovations and Customization
Single-family homes provide exponentially more freedom to customize your space to suit your specific tastes and needs. You can expand, renovate, and remodel, however, and whenever you desire.
Not only do condos tend to limit things like where you hang your clothes to dry or the color of your walls, they often restrict your ability to do any sort of renovations at all. Doing so requires approval from all owners on every facet of the process, from the contractor to the quality of work.
5. No Co-Ownership Headaches
When you buy a single-family home, you also purchase the entire dwelling plus the land it sits on. Condo ownership, on the other hand, includes only the actual interior living space and a portion of the common areas.
Co-ownership inevitably leads to conflict and an issue is sure to arise on at least one occasion. All condo owners share in the decision-making process, and the rules and restrictions can be highly prohibitive.
Are You Ready to Own a Single-Family Home?
If space, privacy, and resell value top your list of priorities, purchasing a single-family home is likely the right fit.
Browse our online listings of single-family homes for sale in Alexandria or contact our team. We would love to help you find the home of your dreams in Northern Virginia!