Which is better now... home or condo ?

Doug · Jul 26, 2008

I mean as far as future value.

I think condos are over-rated, and will do worse overall than an actual house in coming years.

My logic is the condo fees become more of a burden in tough real estate times, so people would want to kill that monthly bill.

There are benefits to a condo, many have stuff like a pool, jacuzzi, tennis courts, weight rooms,etc, that you wouldn't have in a modest house, and no lawnmowing, snow removal to do yourself, but the fees get to be too much.

There are also a lot of bad points to a condo...neighbors too close, and restrictions like no motorcycles,etc.

I don't think I'd ever buy another condo.

I pay $196/month( plus several special assessments a year) in fees and get nothing like a pool,clubhouse,tennis.

What do you guys pay for condo fees ?

Buster · Jul 26, 2008

138 here doug...however when i get out i will never live in another HOA again,if i can help it

lapdance · Jul 26, 2008

houses by far

Doug · Jul 26, 2008

Condos seem really iffy to me, as well. I think that segment will get hit hardest. I can't see ever owning another one.

5teamparlay · Feb 2, 2019

lapdance said:
houses by far

Agree

Fees will eat you in a condo... NO ROI.

HamGlaze · Feb 2, 2019

Buster said:
138 here doug...however when i get out i will never live in another HOA again,if i can help it

So did you ever end up going back to Section 8?

seldomseen · Feb 2, 2019

And condos are the first to lose value if the market ever comes down again.

3peet · Feb 2, 2019

Houses are and always will be worth more than a condo.

Doug · Feb 2, 2019

I really hate condos, too much with the BS rules. Why the fuck can't I park a motorcycle in MY parking spot or my company truck, so I work for ABC plumbing and the vehicle has signage, so what ?

Do I have to put my motorcycle in the bed of my pickup truck to make it legal ?

I love having an actual house at the end of a lonely street that has only 3 homes and abuts hundreds of acres of marsh and forest, even the private road in is iffy looking, gigantic potholes, almost sinkholes. Some people refuse to drive down this street.

halekulani · Feb 2, 2019

condos are good to rent out b/c it becomes low maintenance although it cuts into your profit margin
but to live in, houses >*

niltes · Feb 2, 2019

one can not make a blanket statement that houses are better than condos in all
markets for everyone. condos will almost always get one more square footage
per dollar than a single family home; but again that's just part of the story.
one should really make that decision based upon the cost/benefit of each
and compare them for that specific geographical market. because of
negative bias, sometimes condos are a better deal than houses. for some
people owning a condo is far better and sometimes the only option compared
to renting (which is usually the worst long term option). I could go on, but
i'll keep it short.

REDEYE · Feb 2, 2019

HOA's are in housing develpments too.. Had one for 11 years in my last house I just sold

tanner12oz · Feb 2, 2019

House is inevitably a bad idea..no chance in maintaining when your old and frail. Hell its a pain already at 35. Unless you have a family condo for sure.

HacheMan · Feb 2, 2019

Ask BAS he has both haha

5teamparlay · Apr 15, 2019

Sold a Townhome outside of Chicago for 199k in 2003

just looked on Zillow - its 183K lol

16 years later

horrible market

Seymour · Apr 15, 2019

I live in a condo but I have to agree in terms of future value a house is a better bet

skins85 · Apr 15, 2019

Currently live in a townhome/condo. Fees are high. I pay $285 a month but I live at the beach. No pool however. Owned it for almost 5 years and will be looking to buy a house but keep the condo. Where we live the rent is so high and condos are the only smaller places to rent that it’s actually got a good chance of being profitable. If not for the ability to rent with ease I wouldn’t buy another condo until I’m older and don’t want the hassle of maintenance. I’m 33 and have 2 young kids, the condo gets smaller each day.

For future value I would almost always say house unless your condo is easily rentable or a retirement destination where people with money will retire one day.

Which is better now... home or condo ?

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