Condo vs. House Controversy

House

Condo

Privacy

you don’t have neighbors living above and below and right next to you.

Freedom

because you don’t have CC&R restrictions telling you not to park your R.V. in the street and to take down that satellite dish from the roof.

Appreciation.

From 1^st quarter 2006 to first quarter 2007, condo prices rose 8.8% while home prices appreciated 17.7%. However, recently this has been reversed because of the affordability problem in Salt Lake. 3^rd quarter 2007 to 3^rd quarter 2007 comparisons show condos appreciating by 12.5% and homes 9.4%

Selection

As of 12/12/07 there were 1099 condos on the market and 6310 homes on the market in Salt Lake County and

Affordability

As of the 3^rd quarter 2007, the average sales price of a condo in Salt lake was $189,678 an the average sales price of a home was $310,181.

Convenience

Most condos have common areas where the maintenance is taken care of as part of your HOA fees. This means less weekends doing yard work.

Security

Whether real or perceived, there is an added security benefit to living in a condo. Often times the community is gated and accessed by code only.

Cool Factor

Condos seem to be at the forefront of contemporary design. This is especially true in Salt Lake where there are many new projects that feature green building techniques and the best that IKEA has to offer.