Condo or House?

Every questions needs to be tailored to the particular audience. A couple that travels frequently or has their kids out of the home will embrace the safe, clean life-style of a condominium complex. No need to worry about snow plowing, cleaning the pool, repairing the roof, as these amenities are typically included in the monthly fees. A couple with a handy (wo)man that enjoys the accomplishment and fresh smell of a mowed lawn will find much more enjoyment in a home.

In 2015, Norwalk and Stamford had over 1,340 transacted two and three bedroom condos and homes. About 53% of these sales were homes and the remaining 47% were condominiums. Consumers are almost split on which they seem to prefer.

The average sales price may dictate why the condominiums are sold at a similar rate. A 2-3 bedroom in Norwalk and Stamford condo sold on average for about $357,190 compared to a house, which sold for over 100k more at about $472,819. This again brings us back to the personal preference as to where you are in life.

Know your market and more importantly, make sure your realtor knows your market.

 

-Brent

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