Difference of Condo and House
Jordon Scrinko
Published by Jordon Scrinko
Last Updated On: October 14, 2022

Condo vs House – Here Are the Pros and Cons

Toronto has always been a happening and busy city in Canada, situated along the most famous Lake Ontario. Being one of the best cities in the world, the population here comes from a different mix of culture and background.

While some in the city prefer to enjoy the scenic and picturesque view of the lake, others like to be amidst the hustle bustle of the city, like that in the Downtown.

Naturally, this defines their choice of living too. And, when it comes to living, comes the real question- which side to pick – condo vs house? A lot of surveys, statistics and reports have come out of this never-ending debate.

Toronto has witnessed the real estate boom in the past decade. New properties are coming up every other day in different areas of the busy city, making it more difficult to decide. Let’s see what the reports and stats have to say:

What the Reports and Stats Have to Say for Condos and Houses

house versus condo analysis

An exclusive report released by the Toronto Real Estate Board two days ago showcased the appreciation in rates of condos in Toronto.

As of 2019, condos stand as a number one investment prodigy in the city of Toronto but still people believe in owning houses with a wholesome authority over it making it difficult to state judgment against condo vs house.

In the last two years, condos sufficed an increase in the average per unit rate of about 9.7 percent whereas the rate of houses suffered a loss due to this. And as a result of this, the sales of houses and semi-houses has increased rapidly in the past few months leading house vs condo a real deal.

From an Investor’s Point of View

man holding phone

Individuals residing in the city of Toronto, especially the potential investors are facing a tough time in deciding their future homes.

According to a recent survey, condos are the best investment at the right moment but the major decrease in the price of houses and the tremendous increase in the price of condos has left potential investors in a dilemma of condo vs house.

A house is a fully own residence whereas condos require sharing of common areas like the lawn, fence, parking and other common utilities. As human beings are obsessed with the thought of individuality, they are choosing houses over condos, but at the same time, the younger generations are going for condos knowing that it is a better investment as in the near future they can gain back ten times more than what they have invested.

From a Cost Point of View

checking stats

As per surveys, the cost of condos has reached the mark of a minimum of six digits. This has been marked the highest in the city of Toronto to date. Condo vs house is the most speculated topic in the real estate and the financial sector of Toronto.

The basic is that the cost of a condo at this segment of time is higher, but over the years its cost will only appreciate.

Whereas due to the increase in the sale on condos, the sale of houses has tremendously suffered a loss which led to a further fall in the rate of houses again increasing its sale. It repeats and continues the cold war between condo vs house.

Condo vs House: Further Comparative Study

1. Insurance Costs

insurance costs

Talking about cost, the first thought which appears before making an asset purchase in insurance, hence condos and houses to needs insurance. (1) Insurance is generally an expense which every individual is bound to incur and at some point, would like to cut it less or even get rid of this.

A house needs more money for insurance as it includes every bits and pit of the area hence more objects to be insured whereas in condos a lot of amenities belongs to the common ground for the residents hence the owner only needs to ensure the inner space which is solely his property and helping him bring down his insurance money.

2. Maintenance costs


Maintenance includes services of cleaning, checking, servicing, plumber costs, repairs and another day to day services required.

In the case of condos, all the residents generally pay a certain amount as condo fees which suffices for all the minor costs and relives the resident for the headache of taking up the responsibility of housekeeping.

Whereas in houses, all the responsibility is on the shoulders of the owner and maintenance is costly as there is a single bearer for all of it. The problem becomes even more apparent among larger houses since a deep clean could cost hundreds—if not thousands to maintain every few months.

3. Cost of Necessities

water faucet

The water charges and the charges incurred due to garbage are again a huge cost for houses whereas in condos its shared and is considered under the condo charges. Such conflicts make house vs condo an interesting topic to research on.

Houses acquire and consume a lot of electricity and heating bills as again the single owner is responsible for all of it. In condos, this billing to comes under the condo fees paid by the residents. They also share the load of their neighbours.

Not to forget, the unexpected expenditure!

Unexpected costs are more likely to be incurred in the case on condos as even after renovations there are few existing unsolved issues. In this case for houses, there aren’t any issues as such as it’s a complete choice of the owner to build it the way he wants it.

4. Renovation Costs

renovating houseRenovations often cost a fortune, houses generally gather more attention as a lot of individuality and personal time and money is invested and which is why people tend to spend a lot for renovations.

In condos, even though people own if they don’t really get attached to it as a bit of social stigma and complete ownership hence they refrain from spending a fortune behind it.

These costs will be up to the owner if they want to customize their homes or condo units.

5. Location and Convenience

condo buildings

Talking about area and positions, Toronto is a well-built city with proper division of infrastructure, greenery, and roads. (2) Individuals of today’s world treat convenience as their priority and hence when they are looking out for a resident, they generally look for a market nearby, school or office or even a day-care.

In Toronto, the condos are located near the Chinatown, a busy area and near Downtown. The condos are near to parks and commuting to any place is convenient as it is located right on the main roads. Most of the condos in Toronto is self-sufficient as they have an indoor supermarket, general stores, and facilities of a gym, and other amenities right there.

Houses at locations like this would cost a fortune and are mostly located inside on the side lanes and not on the main roads. But housing complexes are always built near schools making it easier to commute.

Both houses and condos location matters to the investors and honestly one cannot have all the convenience and hence a proper decision among purchasing a condo vs house is a very tough one.

You can also watch this video to learn more about the best neighborhoods to live in GTA.

6. Lifestyle

condo unit

Lifestyle is the most important factor as lifestyle describes an individual’s life. Condos come with a lot of extravagant features and amenities.

They are equipped with party halls, pools, gaming area, bowling alleys, screens, and courts.

The charges of using this amenity come under the condo fees but people hesitate as these are a public place to all the residence, which means there is no privacy or enjoying the amenities in solace.

But still if one can make the most use of these features, it’s a lot of money well spent and convenience. Regardless, condos tend to make community living a focal point, so making friends is essential if you want to take full advantage of the outdoor space and other features.

7. Flexibility of Ownership

living room

A house comes with complete ownership and indulges the owner is no issues with issues whatsoever. They own the complete rights of the place and doesn’t evoke any sense of nuisance with the neighbors.

Issues of misunderstandings can take place in a parking basement of a condo which can be refrained initially by following rules, but a house is free from issues of this sort.

Places like the driveway, the lawn comes under the common property in a condo, and one certainly cannot customize it according to their wish, but maintenance takes care of the cleanliness drive and part of that.

In houses, it’s all in the owner’s hand to customize or design or set templates for every single area of the house or even the areas outside the house, but again it’s his complete responsibility and hence a few skills and time is required for a house. It’s better to talk to a real estate agent for specifics.

Blooming Condominiums in Toronto

condominium in Toronto

Wouldn’t it be nice to know about certain condo locations that are in the ‘Top condos in Toronto‘ list of real-estate investors? The options available in Toronto are aplenty! Now that we have a little fix on the condo vs house let us explore a few condos in the city.  One will find multiple options for all types of condos!

Whether you are looking for a luxurious place to have a warm home with your family, or just an investment to earn some revenue, there are many options for each type!

The best part about Toronto has condos here are not just a luxury, they are perfectly fit to satisfy all the necessities as well. Have a look at some of the most popular condos in the city.

Quick Condo Guide at Different Locations

condo building

West Hill in Centennial Scarborough is a beautiful area surrounded by parks and is a place to a lot of families. West Hill provides its residence amenities like the library, shopping centers, and a community center. It is also in proximity to the C.N Railway station.

Roncesvalles, Parkdale is a closed neighborhood and is near Kings and Queen Street. It indulges in a European Ambience and owns ways for bicycling and walking. It is famous for restaurants and numerous dining places.

Willow Ridge stands as the number one condo in the city of Toronto. It is located on the Martin Grove road and is again enclosed with playground and parks.

Birch cliff is a beautiful complex located along the banks of Lake Ontario. The condo is a beauty and is known for its community. It feels like a huge big joint family living together.

York University Heights, Black Creek located near the York University is home to thousands across the world. This condo has all the amenities and is home to several students.

Condo or House: How to Decide With So Many Options at Hand?

getting house key

Deciding on a particular condo can be a tough job. With so many real estate developments in different parts of Toronto,  and the options at hand with desired characteristics uncountable, which condo to pick? The first and foremost point is- your budget! The options available to fix condo vs house will always be plenty. The answer lies in- which one can you afford?

Next, the beauty and scenic aspect of the location should be in consideration. However, one shouldn’t forget the fact that the distance of commute plays a major role. It should be close not only to the basic necessities of yours, but you should also be able to reach your workplace too.

Apart from these basic points, the developer of the condo also plays a role. It is always a smarter idea to look at the background of the condo’s developer before you make a final purchase. The developer’s reputation speaks a lot about the quality of their construction.

Therefore, in the city of Toronto, the increase in the price of condos and sell of houses has left the real estate sector in a dilemma to come out with a result for a proper settlement plan but reports produced by them showed that condos are the best investment option as it is going to appreciate over the years. Both house and condos are good plans of the resident which each set of advantages and disadvantages.

Generations of the human race will have a different aspect to both the residential options. The newer generation will likely purchase a condo because of the convenience and suitability and lesser responsibility whereas the slightly older generation might choose a house, making condo vs house a confusing and diplomatic topic to have a winner.


1. Insurance Information Institute, What is homeowners insurance?, retrieved from https://www.iii.org/article/what-homeowners-insurance
2. Lisa Power, Toronto ranked one of the greenest cities in the world, retrieved from https://www.blogto.com/city/2017/10/toronto-ranked-greenest-cities-world/

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