Your Guide to Choosing the Perfect Home Style for Your Lifestyle & Goals
Buying a home is an exciting adventure, filled with dreams of new beginnings and personal spaces. But before you start touring open houses, there's a fundamental question that often comes up: should you buy a single family home or a condo?
It's a big decision, and there's no single "RIGHT" answer – only the right fit for you. As your local real estate expert, I'm here to break down the benefits and drawbacks of each, helping you align your choice with your lifestyle, budget, and long-term goals.
The Detached House – Your Own Private Oasis When you picture "home," a detached house is often what comes to mind: a stand-alone property where you own the land, typically with a yard, and no shared walls.
Benefits of Owning a House:
Privacy & Space: This is the big one! You get your own yard for gardening, kids, pets, or just relaxing. No shared walls means more peace and quiet, and typically more overall living space for a growing family or extra hobbies.
Freedom to Customize: Want to paint your front door purple? Install a hot tub? Renovate your kitchen down to the studs? With a detached home, you have far more autonomy over renovations, landscaping, and decor, free from most condo board restrictions.
Appreciation Potential: Historically, detached homes (in most markets) often see stronger appreciation due to the inherent value of the land they sit on. While market conditions vary, this can be a solid long term investment.
No Condo Fees: One less monthly bill! All your money goes directly into your mortgage, property taxes, and home maintenance.
Investment Opportunity: Depending on the zoning regulations for your area, there's potential for adding a secondary suite (like a basement suite, garden suite, or garage suite) for rental income, or simply holding the property as a valuable family asset for generations.
Drawbacks of Owning a House:
Higher Upfront Cost: Detached homes generally come with a higher purchase price compared to a similarly sized condo, especially in desirable, established neighbourhoods. This means a larger down payment and potentially higher mortgage payments.
Maintenance Responsibilities: This is the trade-off for all that freedom! You're responsible for everything: roof repairs, furnace maintenance, leaky pipes, cutting the grass, and (oh, Alberta winters!) all that snow removal. This demands significant time, effort, and often, unexpected costs.
Higher Property Taxes: Due to the higher assessed value, property taxes for detached homes are typically higher.
Less Predictable Expenses: While you avoid condo fees, you're on the hook for all repairs. A furnace breaking down or a roof needing replacement can be a sudden, costly hit to your budget.
Commute/Location: Finding an affordable detached home often means looking in more suburban areas, which could result in a longer commute to central Edmonton or downtown.
The Condo – Lifestyle & Convenience A condo means you own your individual unit within a larger building, or parcel of land, and you share ownership of common areas like hallways, gyms, roadways or green spaces. This type includes apartment-style condos, but also townhome condos and even some duplex-style units.
Benefits of Owning a Condo in Edmonton:
Affordability: Condos often offer a lower entry point into the Edmonton real estate market, making homeownership more accessible, especially for first-time buyers, young professionals, or those seeking an urban lifestyle without the detached home price tag.
Low Maintenance: Say goodbye to shovelling snow and mowing lawns! Exterior maintenance, landscaping, and common area upkeep are handled by the condo corporation (funded by your condo fees). This is fantastic for busy individuals, seniors, or those who travel frequently.
Amenities Galore: Many condo buildings offer fantastic shared amenities like fitness centers, party rooms, guest suites, secure parking, and sometimes even pools or communal gardens. You get access to these perks without the individual cost and upkeep.
Prime Location: Condos are often strategically located in prime, walkable urban areas, providing easy access to public transit (hello, LRT!), vibrant restaurants, shops, and entertainment.
Predictable Budgeting (Mostly): Your monthly condo fees cover many expenses, which can make budgeting for housing costs somewhat simpler.
Drawbacks of Owning a Condo:
Condo Fees: This is the most significant recurring expense. While they cover maintenance, they are a mandatory monthly cost that can increase over time. It's crucial to understand what these fees cover (e.g., heat, water, electricity, insurance, reserve fund).
Less Privacy/Space: You'll have shared walls, and your personal outdoor space might be limited to a balcony or small patio. This means less privacy than a detached home.
Rules & Regulations: Living in a condo means adhering to the bylaws set by the condo board. These can include restrictions on renovations, pet policies (sometimes outright bans), age restrictions, parking restrictions, and common area usage, limiting your complete autonomy.
Special Assessments: While condo fees cover regular maintenance, large, unexpected repairs to the building can result in a "special assessment"—a sudden, large bill that each owner must pay.
Appreciation: While condos do appreciate, they may do so at a slower rate than detached homes during certain market conditions. Looking at 2025 stats, detached homes in Edmonton showed stronger year-over-year price growth compared to apartment condos.
Reliance on Board Management: The quality of the condo board and property management can significantly impact the building's financial health, maintenance, and overall living experience. It's vital to review condo documents carefully.
People: Living in higher density dwellings can be challenging for some, especially if they are moving from an acreage or a small town.
Making Your Decision – Key Questions to Ask Yourself To help you decide which path is right for you, consider these questions:
What's your total budget? Don't just look at the purchase price. Factor in your mortgage, property taxes, utilities, and then either a budget for house maintenance/repairs OR your anticipated condo fees and potential special assessments.
What does your ideal lifestyle look like? Do you dream of weekend DIY projects and gardening, or would you prefer to travel and have someone else handle the exterior work? Are you a social butterfly who enjoys shared amenities, or do you crave solitude?
How long do you plan to stay? If you're planning a shorter stay (e.g., 2-5 years), a condo might offer more flexibility. For longer-term goals, a detached home often presents stronger appreciation potential.
Are you prepared for maintenance? Be realistic about your time, skills, and desire to manage home upkeep.
What's your tolerance for rules? Are you comfortable with a condo board making decisions about your living environment, or do you need complete freedom?
What amenities do you truly need or want? Small gym, social gathering places, heated underground parking, which can often be a benefit with condo living, but with the benefit comes a cost with higher monthly condo fees.
Do you have pets or want pets, or more pets? If wanting numerous pets or larger dogs, for example, a single family dwelling will likely be the better fit.
Ready to Explore Your Options? Both condos and detached houses offer unique benefits and drawbacks in the Edmonton and area market. The "RIGHT" choice is the one that best suits your current needs, lifestyle, financial situation, and future aspirations.
Whether you're leaning towards the freedom of a detached house or the convenience and community of a condo, we're here to help you navigate the vibrant Edmonton and area real estate market. Let's chat about your specific goals and find the perfect place for you to call home!
RIGHT Real Estate • 780-423-2739
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