What is the difference between a house and a condominium? Why do some people prefer one over another? Does bigger means better or does cheaper mean better? There are many factors that affect people's decision whether to live in a house or in a condominium. Almost every adult will purchase their own place and by considering in all the factors, he/she will have a greater chance of making the right decision. The difference between living in a condo and living in a house depends on the resident's lifestyle and is determined by the household's prices, restrictions and diversity. One of the major factors is price. Almost everything is based on money and a household is one of the major steps in life which requires a large sum of money to accomplish. There are several price aspects that differentiate living in a house versus living in a condo. Condominiums are generally cheaper than houses and also include water, gas and heat. On the other hand houses are more expensive and utilities are not free either. In addition, houses require maintenance like snow removal (major one in Canada), insurance cost, interior design (i.e. unfinished basement) etc.. Unlike houses, condominiums don't have so many bills on them other than association fees which can get expensive when extra money is needed for maintenance. Even thought houses are more expensive than condos, they can also be more profitable. Resale value is better for houses than condos, and as time passes the value of a house tends to increase while condominiums value doesn't change much, which explains why we have a show called "Flip This House" and not "Flip this Condo." Although prices may favor condominiums over houses, we cannot say the same about restrictions. Restrictions unlike prices are more reluctant to houses meaning that there are less restrictions in a house than there are in a condominium. Unlike houses, condos have thin walls and nearby neighbors not only around you but also abov