Should I Buy The Condo In An Upscale Neighborhood Or The Single Family House In An Ok Neighborhood?
Mу budget allows mе tο bυу еіthеr thе condo іn thе upscale sub-urban neighborhood οr a nice single family house іn аn ok sub-urban bυt working class neighborhood. Thеу аrе priced thе same аnԁ аrе both within mу budget...
I аm single male іn mу early 30's wіth nο kids.
I'm interested іn уουr opinion....
My personal choice hands down would be the condo. I own my own home now and am getting it ready for sale. My next step will be to either buy a condo or rent a nice apartment.
I would rather spend the time I’m not at work doing things or going to places I enjoy rather than mowing the lawn, raking leaves, etc..or trying to keep up with a house. It’s all personal preference, of course, some people enjoy taking care of their house. I would much rather take a dip in a pool, shop, bike, hike or go to a movie with friends than clean the gutters.
You have to consider what you would rather do with your time and money.
Best wishes!
Condos are always a mixed bag. You have to deal with an oftentimes intrusive condo association that will try and dictate almost everything in your life. The second negative is that the monthly fees can far outstrip the benefits and you have no control over increases in the fees. If the fees are not higher then maintenance suffers which in turn decreases the value and desirability of your home.
If you just want to pay someone else to keep the pool clean, secure insurance, do lawn care and have a security gate or guard then this may be the way to go. You can leave the unit unattended when you go on a vacation worry free.
A single family home requires maintenance that you have to arrange and it is usually more expensive to purchase.
There are many other issues but all in all the single family home is generally the better investment for the long term.
The condo may be a little harder to sell down the road, but being in an upscale area helps. You may find other single 30-somethings wanting to do the same thing when you are ready to move on.
Not having the upkeep a home requires is a benefit, perhaps offsetting the more strict rules a condo association has versus an HOA in the other neighborhood.
I think the resale question is the only thing that would bother me at all; the rest should be determined by your lifestyle and plans for the near future.
Williams.
When it comes time to have a family you would be buying the home anyway. So why not start out in what works. For resale purposes and for not having a Home Owners Association to tell you what you can and can not have. There are some advantages of condo ownership, Someone to pay for the yard work. Called common area, Pool service, trash service, and more.
But a home is your castle and no one can tell you what color to paint the outside. However you need to check with all cc&r`s in the homes area.
having done both i decided the house had the most potential. the condo means monthly fees, restrictions and possible undesirable elements which i could not control. the house will need maintenace and upkeep that you can handle with some effort. nobody should make this decision but you. i personally enjoy the peace and quiet of the house.
In my opinion, always stay away from condos. Too many problems.