Is it better to own a house or condo as an investment property?

There is a classic investment question which asks if it is better to own a stock or mutual fund. There is no right or wrong answer but I believe the article shown below addresses both sides of the debate.

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There is also no right or wrong answer as to the debate of whether a house is a better investment than a condo but I prefer to say that the home is superior and illustrate my reasons why:

1) There is more prestige in owning a home versus a condominium.

2) There are no fees along with mandatory special assessments in condos unlike owning a home. This means you are responsible for your property and not your neighbors.

3) The accounting for a single family home is easier to understand than a condo board’s annual financial statements which may or may not have strict reporting controls.

4) There is greater privacy in owning your own home versus a condo.

5) You have more control of your investment in a home than a condo as one must abide by the condo board rules in the latter.

6) It is better to have a larger mortgage with corresponding payment (and hence built up equity over time) rather than have that money go to condo fees which will only be an increasing expense with nothing but a tax deduction to show for it.

7) Generally speaking, houses tend to have both a higher cash flow and equity appreciation rate than condos.