Transcript:
Hey guys, you probably have heard of the phrases, freehold and condos, and are also aware of the differences between the two, but do you know when it’s better to buy one over the other? The biggest difference between the two is a lower purchase price for condos, and in Milton for that matter the condos start from $390,000 and above. On the other hand for Freehold homes, depending on the square footage, upgrades and few other features, prices start from low $500,000 and go up. Besides the price point, for condos what you have to account for is not only the mortgage payments and property taxes, but also an ongoing condo fees. In Milton, this fee ranges from $200 to low $700 a month. Few other differences include limited living space, parking, storage and lack of basement and yard space for condos. Given the lower purchase price, condos are what we refer to as good entry-level homes for folks looking to get into the market. However, if you are looking for an investment property, I would suggest sticking with a freehold. Feel free to give me a call or message me with any of your questions. Thanks so much.