Buying a house or apartment: which is right for me?

A condominium is not necessarily cheaper than a single-family home. The price strongly depends on the construction standard and the location. An apartment in the city centre can cost as much or even more than a house in a rural area.

Also keep in mind the ancillary purchase costs that are incurred in addition to the property price. These include notary fees as well as maintenance costs. Maintenance includes gardening, repairs and renovations. Altogether, the ancillary purchase costs may amount to up to 5% of the purchase price.

If you own a condominium, you will also have to pay administrative costs to the community of owners. You can find more information about the costs of buying a house here.

Single-family homes are often located on the outskirts of urban areas or in the countryside. These locations are characterized by less traffic and more nature. This can be particularly attractive for families looking for a quiet place to live.

Condominiums, on the other hand, are more likely to be located in urban areas and are better connected to public transport. This can make commuting to work easier and may offer better access to leisure activities.

Personal taste is a key factor when choosing a home to buy. When building a new house, you have the opportunity to put your own stamp on the property. With an apartment, on the other hand, you are restricted by the general plan.

Remodelling an existing house at a later date also gives you more options than you would have if you bought a condominium. Generally speaking, if you own a house, you can alter it whenever you like – provided you have planning permission. This is not possible to the same extent if you buy an apartment. This is because many decisions require the consent of the community of owners.

There is, however, an upside to having limited creative freedom. When it comes to selling, it will be easier to find a buyer for an apartment. This is because apartments are built in a more standardized way and are less personalized.

Have you decided to build your own house? If so, you should allow yourself enough time – from planning with architects and authorities to coordinating the construction work of various contractors. 

Condominiums in new buildings are usually handed over in “turn-key” condition. Often, you still have the opportunity to have a say in the interior design, even if you only have a limited amount of time.  

The difference in time involved is more noticeable when it comes to building maintenance. As the owner of a house, you are solely responsible for all repairs. If you own an apartment, a caretaker or property management company usually takes care of any maintenance work. 

Your personal need for freedom and individual creativity is also a key factor when deciding between a house and condominium. A house gives you exclusive use of the building and land.

In an apartment, your freedom of movement is limited to your own four walls. Use of the rest of the property, the garden and common areas requires mutual respect between all owners in the building.