Some might argue that a home is a home regardless of whether it came from the "single family home," "condominium" or "apartment" section of the Markham real estate listings because what counts is the fact that your family members and all your stuff is there. However, "home" when used in a real estate context, traditionally means "house," which is quite different from a condo or an apartment. We'll outline some of the major differences for you here.
Location
While you can find houses anywhere, condos are generally restricted to major vacation destinations and the urban centers of cities because of the high demand for housing space there. A huge multi-storey complex like 763 Bay St. simply wouldn't be viable in a more rural area, likewise, single family homes are either prohibitively expensive or torn down and replaced with tall buildings near downtown. A big part of picking between the two housing types comes down to your preferred neighborhood.
Size
There are some small houses, just like there are some enormous condos, but generally speaking condos are much smaller than houses because of the aforementioned space constraints in urban centers. If you were to buy at a place like 33 Lombard St. - Spire Condos you could expect a single storey with 900 to 1,400 square feet of space. By contrast, most homes in Ontario are two storey and have 1,500 to 3,000 feet of floor space. You can usually get up to three bedrooms in a condo, whereas it's not usual to see houses with 4, 5, or even 6 bedrooms.
Features
The biggest selling point of Brampton homes over downtown condos is yard space. In a condo, you will be lucky to get a small concrete balcony or shared access to a rooftop garden, but as a homeowner you can create your own garden, backyard deck, and playground for the kids. Houses have garages or driveways for parking, while most condos will offer you a single underground parking space. Houses are more likely to have family rooms, fireplaces, and basements, while condo buildings can offer things like gym facilities, swimming pools, saunas, and round-the-clock security.
Fees
If you're buying a house for sale in Mississauga you'll be responsible for property taxes and perhaps homeowner's association fees if you live in a planned neighborhood. Condos often require you to pay monthly maintenance fees for common areas on top of any membership fees. You are responsible for any maintenance that needs to be done on your unit in both cases.
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