Are you thinking about purchasing an oceanfront property on the Mississippi Gulf Coast? You’ve come to the right place! Mandal Preferred is your source for buying and selling luxury real estate throughout the Mississippi Gulf Coast area, including in Biloxi, Ocean Springs, Pass Christian, Gulfport, and more. When it comes to purchasing a beach house, you have several options to choose from, including single-family homes, condominiums, townhomes, apartments, duplexes, and more. In this blog post, we discuss the pros and cons of two of the most popular property options on the Mississippi Gulf Coast — condos and single-family homes. If, by the end of this post, you have a vision in mind for your perfect vacation or year-round home, then get in touch with the Mandal Preferred team today.
What Is a Condominium?
While many people think that condominiums (often referred to as “condos”) are synonymous with apartments, this is not the case. First of all, apartments are often rented, rather than privately owned. Secondly, condos are typically part of a residential community, whereas apartments are simply part of the same residential building. This means that condos often have communal amenities (to be discussed further below) that apartments simply can’t offer. Condos on the Mississippi Gulf Coast are often considered luxury real estate, due to their stunning ocean views, convenient locations, and premier amenities.
What Is a Single-Family Home?
A single-family home is what most Americans typically think of when they hear the word “house.” It refers to a stand-alone, detached property (i.e. no common walls) that is located on its own parcel of land. It also has its own private, direct access to the street, as opposed to a condo, which has hallways and a lobby that lead to street access.
Price
The first thing that most homebuyers inquire about when considering which type of property to invest in is the price. In most locations around the country, condominiums are less expensive than single-family homes. The same is generally true for the Mississippi Gulf Coast, however it depends on the size of the dwelling that you are looking for, and where it is located relative to the ocean. Oceanfront real estate, understandably, is more expensive than inland real estate. Since oceanfront square footage is limited, it is easier to find a waterfront condo on the Mississippi Gulf Coast than a waterfront home (although we do offer luxury waterfront homes as well!) .This means that, due to their prime location, condos here can sometimes be more expensive than single-family homes. On top of the purchase price, there will also be homeowner association fees (HOA fees) to consider, which we will discuss in detail below.
Location
Since condos are smaller and more densely packed than houses, they’re often located closer (most often within walking distance) to the luxury amenities that prompt most people to move to the Mississippi Gulf Coast in the first place, such as the beach, restaurants, boardwalks, entertainment, cultural activities, shopping, and more. Houses, on the other hand, while offering more space, will often require homeowners to drive to the town center, rather than walk. If you don’t mind driving, then this shouldn’t be an issue, but if you’re looking to save on gas (or get rid of your car altogether!), then you may want to opt for a condo.
Maintenance
For condo owners, the amount of required maintenance and its costs depends on the terms of their community’s homeowners association. Often, condo complexes with more amenities will take more funds to maintain. On the plus side, your HOA will take care of the exterior of your condo for you, so you don’t have to worry about hiring and overseeing landscapers, roofers, gutter cleaners, or any other exterior maintenance professionals. When you own a single-family home, on the other hand, it will be your responsibility to maintain not only the interior of your house, but the exterior as well. If you’re not the DIY-type, the cost of this additional responsibility can quickly add up. Ask yourself how handy you are, and answer truthfully. If the thought of having to fix your own swimming pool or clean your own gutters sends shivers down your spine, then a condo may be your best bet.
Amenities
When you choose to buy a condo on the Mississippi Gulf Coast, you get so much more than just a place to call home. Depending on which community you choose, you also get a wide array of high-quality amenities. For starters, many of the luxury condominiums here include 24/7 security personnel, as well as swimming pools, hot tubs, fitness centers, saunas, club rooms, barbecue grills, parking garages, and lush tropical landscaping. Other common amenities (which are typically covered under the HOA fee) include cable TV, high-speed wireless internet, and all the basic utilities, such as water and electricity. Some even come with dog parks so that you’re four-legged friends can have a community of their own! Single-family homes, on the other hand, do not include these amenities unless they are built into the property (such as a swimming pool). You will have to buy your own gym membership, purchase your own Internet and cable plans, service your own pool, etc. Nonetheless, all of these costs may still be less than HOA fees.
Community
Single-family homes are great for younger buyers who are looking to raise a family on the Mississippi Gulf Coast. They provide a place that you and your loved ones can relax, without having to worry about noisy or nosy neighbors. Older buyers, however, often seek out community when it comes to purchasing a vacation home. Since condos are literally surrounded by other units, this creates a level of intimacy that doesn’t usually exist among single-family homeowners and their neighbors. Often, people who live in the same condo will mingle with each other and congregate around recreational amenities, such as the pool or gym. Some condos even hold communal events, like movie nights, so that even shy residents can break out of their shells and develop social connections.
Space
If you’re looking for a property that offers a lot of space, then a condominium may not be right for you. While you will have access to your building’s outdoor amenities, such as the pool, you won’t have the luxury of a backyard. Furthermore, your rooms, including the master bedroom, will almost inevitably be smaller than they would in a single-family home, especially compared to some luxury waterfront houses that we have listed here at Mandal Preferred. This is yet another reason why we generally recommend that families opt for houses, while couples may be better suited for condo living. Houses offer families room to grow — literally. When you buy a house, rather than a condo, you not only get the interior living space, but also the land it sits on as well. Whether you have a new baby on the way or you’re looking to build a home office, houses allow you to knock down walls and build additional spaces. Apart from rooms, you could also build things like decks, gazebos, playgrounds, ponds, and other outdoor features.
Privacy
Because condos are more densely packed than single-family houses and neighborhoods, and because they are specifically crafted for communal living, they have the downside of offering less privacy. If you’re a couple that likes to keep to yourselves or a growing family that wants some space to get established without worrying about what the Joneses next door think, then you’re probably better off opting for a single-family home. Single-family homes also provide more privacy and intimacy when it comes to throwing parties or exclusive events (although many condos offer rentable spaces as well). At Mandal Preferred, we offer some truly stunning oceanfront homes that come with an incredible amount of square footage as well as sweeping views of the Atlantic.
Homeowners Associations (HOAs)
Both condominiums and single-family homes may require membership with an HOA, however, the HOA is truly the ruler of the land when it comes to condo living. HOAs fees are one of the biggest details that you’ll want to take into account when deciding whether to purchase a condo or a single-family home. HOA fees are usually charged monthly, and while they may be high, they nonetheless cover so many of the amenities and services that condo owners get to enjoy, such as landscaping and exterior maintenance services. If you’re concerned about monthly HOA fees, then you may want to ask the HOA that you’re thinking of joining a few questions, such as what their latest projects were, and where they’re planning on implementing improvements in the future.
Find Your Corner of Paradise With Mandal Preferred
We hope that this article has helped bring you closer to deciding what kind of Mississippi Gulf Coast real estate you’d like to call your own. From quaint coastal cottages to opulent oceanfront mansions, Mandal Preferred is your source for luxury living on the Mississippi Gulf Coast. Get in touch with our team today to learn how our real estate brokerage can help you find the beach home of your dreams, or search our listings of condos, houses, and other properties now. Happy house hunting!