House vs. Condo

As I settle into my lunch break today, I'm inclined to surf my daily web haunts before taking a little walk to ensure some pitiful amount of daily exercise. This leads me to Realtor dot ca. To be clear, Greg and I are not exactly on the market to purchase property in Edmonton, but we're not exactly oblivious to the low interest rates and declining property prices all across the country either. This sort of economic situation begs one to at least consider the possibility of climbing on the property ladder. The process of even considering buying real estate is complicated by my inability to know exactly what I want. Here is what I do know:

I have spent the majority of my life living in houses. I am used to space. I enjoy having a backyard. Backyards are great for gardening vegetables and growing peonies - two things I think help build quality of life. I think of houses as family places, places to make memories, places to grow into, places to make your own. This appeals to me. However, I also think of houses as maintenance-intensive and expensive. I think of weekends spent slaving over cleaning eaves troughs, mowing lawns and shoveling snow.

I do enjoy apartment living. Housework is kept to a minimum, though so are possessions. Living in an apartment makes me consider everything I buy because those things have to be placed somewhere, and with only 900 sq feet and two adults, this is a real consideration. I enjoy having to be cautious about how much I accumulate. I think it is important to love everything you use to fill a small space. However, I think resale values on condos are less certain than houses. Condos seem more appropriate to certain phases of life than others. Condos seem less of places to grow into.

I also know I want to live in a livable neighbourhood where I'm not tied to my car to fetch a carton of milk. I'd like to have nice areas to walk around. I'd like to be able to walk to catch a bite to eat. Thankfully Greg and I agree on this. We will not be buying in Leduc or St. Albert.

My search of MLS postings today reveals two distinct properties that each appeal to me in so many ways. They're polar opposites and the exact reason I find trying to make up my mind about buying real estate impossible. Which one would you choose?

Contender #1: a two storey in the architectural heritage area of Westmount with three bedrooms that is close to friends and only a short bus ride to the downtown

Contender #2: a newly renovated one bedroom condo in Strathcona with modern fixtures just minutes from Whyte Avenue and with easy access to public transit and the local farmer's market