Condo vs. Single-Family Home: What's Right for You in San Diego?

Are you thinking about buying a home in San Diego but feeling stuck in the condo vs house debate? You’re not alone. Choosing between the two is a big decision that hinges on several factors, including your finances, lifestyle choices, and long-term goals.

To help you make an informed decision, let’s explore each property's key benefits and limitations.

Buying a Condo: The Benefits

Price

Condos are generally cheaper than single-family homes, which makes them attractive—especially in competitive markets. Currently, the median listing price for a San Diego condo is $660,000, compared to the $980,000 median price tag of a single-family home.

Less Maintenance

As a tradeoff for paying monthly HOA fees, condo owners do not have to maintain the exterior of their homes, cut the grass, or handle landscaping tasks. This can appeal to busy buyers who want to own a property—just not maintain it.

More Amenities

In general, condos come with many amenities that single-family homes cannot compete with. These may include gyms, pools, tennis courts, and clubhouses—all of which could save owners gym and entertainment costs.

Community

Buying a condo may be an ideal option if you enjoy social interaction and crave connection. Many condo communities organize events that bring residents together. This can be ideal for singles, empty-nesters, and even couples who simply prefer more social interaction.

Buying a Condo: The Downsides

HOA Fees

One important factor to consider when buying a condo is monthly HOA fees. These can vary greatly from one complex to another. For example, an HOA fee for a $6 million property could be $1,600 per month, while a $650,000 condo might have a monthly HOA fee of $850. It is also worth noting that HOA fees generally increase over time.

Less Control

In general, buying a condo means that you have less control over your surroundings. While you are free to paint and upgrade the interior of your home, you must adhere to HOA rules and regulations. These rules can regulate everything from pets and parking to exterior paint colors, decorations, and more.

Rental Restrictions

While rules and regulations vary with each community, many condo HOAs do not allow owners to rent their homes. This could be limiting for some owners who want to generate rental income or who unexpectedly need to relocate.

Shared Spaces

Whether you need total quiet or want the freedom to make noise whenever you like, condo life may not be an ideal fit for you. Generally speaking, most condo owners share walls or ceilings with their neighbors, meaning you will likely hear your neighbors and have to be more mindful of your noise levels.

Buying a Single-Family Home: The Benefits

More Privacy

Because single-family homes are detached, they typically offer more privacy than a condo. This privacy provides two benefits. First, it means a quieter living environment. Second, it gives you more freedom to make noise without disturbing others.

Access to Outdoor Spaces

Most single-family homes have private yards. While you will have to maintain these spaces, the tradeoff is that you can customize this area and use it as you wish. Condo owners do not have this degree of privacy.

Greater Control

Want to paint the exterior of your home, build a new deck, add a fire ring to the backyard, or plant trees? Go for it. Unlike condo owners, single-family homebuyers do not need to gain HOA approval to improve exterior spaces.

Greater Flexibility

In general, buying a single-family home offers more flexibility. If you decide to move or want to rent your home to build passive income, you can do so at any time.

Buying a Single-Family Home: The Limitations

More Maintenance

Trust us—owning a home means investing significant time and money to maintain it. From regular tasks like cleaning gutters and painting to unexpected repairs like fixing a leaky faucet or replacing a broken appliance, something always needs attention.

Higher Insurance Costs

In general insurance for a single-family home is more expensive than it is for a condo. That’s because home insurance covers the entire house; condo insurance typically only covers the unit’s interior, personal property, and liability.

More Time Spent on Upkeep

At first glance, maintaining your home's interior and exterior may not seem like a big deal. However, many new homeowners are often surprised by the time commitment required for exterior maintenance—not to mention the cost of purchasing building materials and tools.

Ready to Make Your Move? The Selby Team Can Help.

Whether you’re considering condo life or are looking for a single-family home, we can help you find it. With our extensive knowledge of the San Diego housing market, we’re here to bring you to the doorstep of your dream home. Contact The Selby Team to get started on finding your new home.