Lake Tahoe Home Versus Condo Purchase?
Lake Tahoe’s beaches, panoramic lake views, and breathtakingly gorgeous mountains are a few of the many reasons why people are seeking to purchase property in the area. Lake Tahoe offers a variety of different locations and settings. There are also many different types of views such as panoramic lake, mountain, stream, meadow and golf course. In addition to all of the different views and settings, there is also a lot of different types of homes such as condos, townhomes, single-family residence, cabins and multi-unit investment properties. In order to make a good decision on what to purchase depends on each person’s personal needs and desires. A good realtor can help with consulting on this choice.
Advantages to Condo Ownership:
Positives: cheaper, easier to maintain, less worry, included amenities
Negatives: lack of a yard, HOA fees, less privacy
Condo living also comes with an HOA. The HOA decides on certain rules that all residents must follow called covenants, conditions, and restrictions (CC&Rs). You cannot alter your homes’ exterior without their approval. They may also decide on the color of your front door, where you park your car and the size and type of pets allowed. The good thing about HOA’s is that they maintain the exterior of the buildings and take care of the grounds, helping you keep your condo looking good and well maintained. Some also provide on-site security so you know your condo is safe when you are not there.
Condo owners of the individual units also collectively own the common areas of the property such as lobbies, hallways, gyms. They also have common amenities such as pools, hot tubs, tennis courts and so on.
Some utilities may be paid by the HOA and included in the regular fee, such as electricity, cable TV, water, and others. The homeowners, through the HOA, collectively oversee the common areas, amenities, and utilities. The cost and upkeep of these common areas and amenities are usually included in the HOA fee. HOA fees are due usually quarterly, but can also be due monthly or annually.
Condo amenities and HOA fees vary a lot. You should check with a local agent to find out more about the HOA for the condo you are interested in.
Advantages to Single Family Home Ownership:
Positives: larger, better for big families, appreciation is better than condo, more privacy
Negative: more worry and personal time to maintain
Single-family homes offer more peaceful and private living when compared to condos. They also usually have a yard where you can spend time outdoors in your own backyard. Patios are common in Tahoe, and there is nothing like coming home from a long day skiing in powder and jumping in your own private hot tub.
If you have animals, a single-family home might be the better option for you. Some condo complexes limit the size and number of animals you can keep in your unit. Tahoe is a very dog-friendly area, and most homes have 6-foot fences enclosing the backyard to help keep your dogs safe.
However, with a single-family home, you are responsible for all of the maintenance of the property inside and outside. But there are a lot of local services that can come out to your home to take care of it while you are gone. From snow removal and yard maintenance, to house cleaners and pet sitters… there are many options for home maintenance to make your life easier. Check out our business directory to find all of the home services you may need.
Ultimately, when deciding to buy a single-family home or a condo, it all comes down to you. Is condo living what you want for yourself and your family? At any rate, deciding between a condo or single-family home is not hard. No matter which you choose, you will still be able to enjoy living in Lake Tahoe, which is really all that matters right?
How To Find Your Home or Condo in Lake Tahoe
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