When you are entering practical life and moving towards becoming independent, you have to make a lot of decisions, one of the more obvious being where you will live. Most people end up spending a good chunk of their young adult life living in and/or co-sharing apartments with other people since you do not have the money to afford anything else at that time. However, once you are financially fit enough to start exploring other options, it can understandably get confusing to choose, so we are going to do a rundown of condos, apartments and houses.
If you choose to stay in an apartment, you get to maintain the lifestyle you are already used to, and you are closer to the city district, so you know that everything is close to you location wise, saving you a lot of fuel costs. While apartments are cheaper, they are not permanent ownership, so your apartment is only yours till your leash is about to expire. In a nutshell, your rent money does not lead to anything tangible.
Condominiums have the option for permanent property ownership, so you can permanently own your unit once you have finished all your payments. Condominiums also happen to be located within or round the city, so everything still stays nearby and it is convenient. Condominiums are currently very popular which is why new projects like xo condos are coming out every year. Houses are permanent property ownership and you get to have your own privacy and do as you please to your house. However, houses are located in the suburbs and the daily commute to and fro can end up draining your wallet and your energy. There is also the fact that houses are very expensive and finding a good one will cost you a lot of money.