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Discover interesting properties from our portfolio and find out about our services and the fascinating world of Engel & Völkers.

Declaration of Data Protection

When using our website, you expressly consent to the registration and use of data described in this statement. Your data will be used for the purposes described below.

IP addresses

IP addresses are required for problem diagnosis, website administration and demographic information. When you visit our site, we recognize only your domain name in any case your e-mail address. Just see your email address if you provide us directly through a form or send us an email.

Cookies

Cookies are used to personalize content, to avoid repeated introduction of passwords or information provided to adapt to the preferences of the user.User registrationOur website contains forms that can be filled to request information. When you register, we will send the requested information.

Email Address

If you provide your e-mail address, we will contact you by email. Do not provide your email address to third parties outside Engel & Völkers. If you no longer wish to receive our e-mails, you can give unsubscribe at any time.Links to other websites Our website contains links to third-party websites. Engel & Völkers is not responsible for protective measures or data content from other websites.

Cancelation

If you no longer wish to receive emails of Engel & Völkers can revoke previously granted permission at any time. The email notification is sufficient for your e-mail is deleted from the list or database web log.

Buying a home vs. Buying a condo

It was ancient Roman philosopher Cicero who purportedly said, “If you have a garden and a library, you have everything you need”. But what else is on your wish list? We've compiled the key factors to consider when choosing between a traditional home and a condominium.

Buying a home vs. Buying a condo1. House ownership vs homeowners association

A condo is usually a hybrid of a house and an apartment, so it’s more likely to be located in a shared building. While rights of ownership are conferred when buying a house or a condo, the main difference is that the occupant of the former will be responsible for the property’s upkeep whereas the apartment dwellers will pay fees to the condominium association for maintenance. Not having to fret about roof repairs, paint retouches, gardening and capital improvements is, of course, a bonus for condo owners. The system works effectively as long as its contributors are up to date with their dues and the association is well managed.

2. Take costs into account

The price of a condo is typically less than a larger home, but the association fees should be factored in. Some condominium communities are luxurious and come with gated security, well-equipped gyms and swimming pools – amenities that are reflected by the expected payment. An unanticipated expense – known as an ‘assessment’ – could also be levied if an emergency or issue not covered in the annual budget arises. However, a traditional house is just as liable to suffer from an unprecedented maintenance bill.

3. Resale issues

Selling your condo could be difficult due to the fact that these properties tend to lack distinguishing features. If several units are placed on the market at one time, this will likely affect demand. Condos are generally less expensive than traditional homes, however, which is a distinct advantage for buyers. On the other hand, the value of a house tends to appreciate faster than a condo.

4. A stronger sense of community

Condos tend to be built in clusters and benefit from shared facilities, resulting in increased social interaction between neighbours. On the downside, noise pollution can be problematic, particularly if a wall or ceiling is shared with other units. While inhabitants of houses can’t guarantee they won’t end up with difficult neighbours, they’re more likely to be separated by a yard, which eases the situation.

5. Conclusions

The turnkey condo lifestyle is ideal for those who baulk at the idea of maintenance, whether first-time buyers, retirees or frequent travellers. Those who would rather not have to abide by a fixed set of rules and who appreciate personal space are more likely to prefer their own house.

Professional assistance in deciding whether to buy a house or a condominium is just one of many services offered by Engel & Völkers. Visit one of our 700 branches, located in 37 countries and four continents, and one of our dedicated experts will guide you through the decision-making process.

Engel & Völkers

Andorra
C/ Na Maria Pla 2-6
AD500 Andorra la Vella
Andorra
Phone
+376 88 66 88

To the shop



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