When you’re ready to buy a property, one of the questions you might ask yourself is, “Should I buy a condo or a house”? Both have a strong appeal; condos promise convenience and lower maintenance, while houses offer freedom and space. However, if you’re thinking long-term, the smarter question is, “Which is the better investment?”

​The answer depends on how you plan to build value. Your future return isn’t just shaped by location and price. The value is influenced by the extent of control you have over improving your property.

Here are four differences in how condos and houses compare when it comes to ownership, flexibility, renovation potential, and resale value.

1. Upfront Cost and Long-Term Return

Condo:

Purchasing a condo is often the more affordable entry point into homeownership. In Edmonton, you’ll typically pay less per square foot compared to detached homes, making them attractive to first-time buyers and downsizers. Monthly condo fees, however, add an ongoing cost that doesn’t build equity.

House:

Come with a higher purchase price and maintenance responsibility, but they tend to appreciate faster. You own the land, the structure, and the freedom for a full house renovation. That means your upgrades directly translate into long-term value.

Peak’s ​Investment Insight: If your goal is long-term appreciation or income potential, consider buying a house with plans for full house renovations.

2. Ownership and Control Over Value

Condo:

Ownership is limited to the interior of your unit. Shared systems like plumbing stacks, HVAC, and structural walls belong to the condo corporation. Any changes that affect those shared elements require approval, which can restrict how much you can personalize or upgrade.

House:

You have full control over your property inside and out. You can modify layouts, replace systems, or add entirely new spaces such as home offices, garages, or basement suites. That control allows you to create value instead of waiting for the market to do it for you.

​Peak Improvements is with you every step of the process. Owning a home provides you with structural freedom and investment potential. Working closely with our design team on your full house renovations can directly impact its market value.

3. Flexibility to Renovate

Home renovations are one of the most reliable ways to grow your property’s value, but not every property type offers the same potential.

Condo:

You can update finishes, flooring, cabinetry, and lighting, and these changes will boost appeal. However, your scope is limited by building rules and homeowner’s associations. You can’t expand your space or move plumbing, and your resale value will always be tied to the building’s reputation and amenities.

House:

Full House renovation options are nearly limitless. You can reconfigure layouts, finish basements, add bedrooms, or even build a secondary suite for rental income.

​The potential ROI (return on Investment) for certain renovations is likely to yield higher returns than others. For example, a kitchen renovation has the potential to recoup up to 70-80% of the renovation cost, essentially boosting your property value.

​Peak Pro Tip: Owning a property allows you to treat full house renovations as an equity investment; every dollar invested returns value.

4. Ongoing Costs and Maintenance

Condo:

Monthly condo fees cover building insurance, maintenance, snow removal, and sometimes utilities. However, you’re sharing both the benefits and the risks of group ownership.

House:

You manage everything yourself, from yard work to roof repairs, but you decide when and how those projects happen. Smart upgrades, like efficient HVAC systems, high-performance windows, and durable materials, can keep long-term costs predictable.

​​Peak Pro Tip: For Edmonton’s climate, investing early in energy-efficient renovations pays off with lower utility bills now and stronger resale value later.

5. Building Equity Through Renovation

At Peak Improvements, we view both condos and houses as opportunities, but your ability to build equity depends on the level of freedom you have to make improvements.

Condo:

Smart, high-impact upgrades include remodelled bathrooms, durable flooring, and modern lighting that enhance the space.

House:

It means planning strategic transformations: reimagining layouts, upgrading systems, or completing a full-house renovation that aligns with your long-term goals.

​With our design-build process, guaranteed price, and a no-surprise contract, you’ll know exactly what your full house renovation will cost, with no hidden fees or surprises, ensuring every upgrade strengthens your investment.

Think Like a Homeowner and an Investor

Choosing between a condo and a house isn’t just about what fits your life today; it’s about what grows with you tomorrow!

​If you value simplicity, security, and low maintenance, a condo offers predictable costs and convenience. If your goal is freedom, flexibility, and stronger long-term growth, a house gives you the power to create and control your own value.

At Peak Improvements, we help Edmonton homeowners like you plan and design condo remodels or full house renovations that protect your investment.

​Ready to explore which property type fits your financial goals? Call or email, Peak Improvements for expert renovation insights.