DRG Real Estate Blog

Buying a home is one of the biggest decisions most people make, and choosing between a single-family home and a property in a common interest community (such as a townhouse or condo governed by a homeowner's association, or HOA) is a key part of that decision. Each option has unique advantages and potential drawbacks. Below, we’ll explore the pros and cons of both to help you determine which might best suit your lifestyle and priorities.

Single-Family Homes

A single-family home typically stands alone on its own lot, providing a sense of independence and ownership.

Pros:

1. Control
   As the owner, you have the ability to make decisions about your property without needing approval from a governing body. Whether you want to paint the house a bold color or build a backyard pool, the decision is entirely yours, as long as it complies with local zoning laws.

2. Privacy
   Single-family homes typically offer more privacy compared to attached homes like townhouses or condos. You won’t share walls or common spaces with neighbors.

3. Potential for Land
   Many single-family homes come with yards, gardens, or even larger lots, giving you more outdoor space for recreation, gardening, or future expansions.

4. No Monthly HOA Fees
   While you’re responsible for your home’s maintenance, you won’t need to pay monthly fees for common area upkeep, which can save money over time.

Cons:

1. Maintenance Responsibility
   All upkeep—both inside and outside—is entirely your responsibility. This includes mowing the lawn, maintaining the roof, and unexpected repairs.

2. Cost
   Single-family homes often come with higher purchase prices and property taxes compared to comparable condos or townhouses.

3. Fewer Community Amenities
   Unlike HOA communities, single-family homes usually lack shared amenities like pools, gyms, or clubhouses.

HOA-Governed Homes (Townhomes and Condos)

Townhomes and condos are common in HOA communities, where a governing body enforces rules and provides maintenance for shared spaces.

Pros:

1. Low Maintenance
   HOAs typically handle exterior maintenance, landscaping, and common area upkeep. This can be ideal for busy professionals, retirees, or those who dislike yard work.

2. Amenities
   Many HOA communities offer perks like pools, fitness centers, walking trails, or security features, adding to the quality of life.

3. Cost Efficiency (in Some Cases)
   Townhomes and condos are often less expensive than single-family homes in the same area, both in terms of purchase price and property taxes.

4. Sense of Community
   With shared spaces and social events, HOA communities can foster a sense of camaraderie among residents.

Cons:

1. HOA Fees
   Monthly or quarterly fees can be expensive, and they are mandatory. Over time, these fees can add significantly to the cost of ownership.

2. Rules and Restrictions
   HOAs often have strict rules about what you can and cannot do to your property. From paint colors to landscaping choices, these rules can feel restrictive.

3. Potential for Conflict
   Disputes with the HOA board or neighbors can arise, particularly if you disagree with decisions about fees, rule enforcement, or community upgrades.

4. Shared Walls and Spaces
   Living in a condo or attached townhouse means less privacy, as you might share walls with neighbors and deal with noise or crowded amenities.

Key Considerations When Deciding

1. Lifestyle
   Are you looking for a private sanctuary with outdoor space, or do you prefer the convenience of low-maintenance living and access to amenities?

2. Budget
   Factor in not only the purchase price but also ongoing costs like HOA fees and maintenance expenses.

3. Long-Term Plans
   Do you see yourself growing a family and needing more space, or are you downsizing and prioritizing convenience?

4. Location
   HOA communities are often in urban or suburban settings with easy access to services, while single-family homes may be more common in rural or spread-out neighborhoods.

Conclusion

Both single-family homes and HOA-governed homes have their merits, and the right choice depends on your personal preferences and financial situation. Single-family homes offer control, privacy, and space, but with higher maintenance responsibilities and costs. On the other hand, HOA communities provide convenience, amenities, and affordability, but with less privacy and restrictions on how you use your property.

Weigh these pros and cons carefully and consider consulting a real estate professional to make the most informed decision. No matter your choice, finding a home that fits your needs and lifestyle is what truly makes it a perfect place to live.