House vs. townhome vs. condo

[JoeWras]

Toilet tanks break or crack. If you live under someone who is out when this happens, it can be a real problem. I would likely pay the premium to live top floor in a small condo.

Some townhomes share walls cleverly, such that only garages, and maybe a utility room wall are shared. Those may work.

My frustration with apartments was getting bugs from neighbors (my first unit). My second unit I lived on the top floor. Safe? No, the guys below played Van Halen at max volume every day. Every. Day. I turn green now when I hear anything from OU812.

 

[robertf57]

Lived most of my life in SFD home. 5 years ago moved into a condo in Scottsdale and love it. Our HOA includes everything except electric but is fairly pricey. I don;'t have noise problems and love not having to worry about pool or hot tub maintenance and really appreciate the ability to lock and not be worried about it..

 

[rodi]

We've got some of the single family "condo"s near me. Here's an example:
https://www.redfin.com/CA/San-Diego/5967-Erlanger-St-92122/home/4891952

The HOAs are relatively low. The development has single family detached, semi-detached or twin homes (attached with a common wall in the garage, rather than the living space), and townhouses. I have several friends who've lived in these as they are more affordable than other homes in the neighborhood and get you amemities like pool and tennis courts and lawn maintenance... These ones are older - but it's a pricey neighborhood - so most have been extensively remodeled from the early 60's origins.

 

[In-control]

Interesting thread. No one added renting as an option. In our area, central MA, you can get a nice 2 bedroom with heat and hot water included for ~ $1000/month. Assuming no mortgage.

The benefits,
> No Maintenance
> Renters insurance is much lower then Homeowners insurance
> Lock and leave
> Location near shopping towns/bus routes common
> Pools/Theater/Party rooms/Workout rooms/Tennis courts
> Don't like your neighbors - pack and go!
> Some area's are rent controlled and their is competition for good tenants
> $ that you have purchased a house with can be invested

Negatives,
> You have no principle - all the cash spent on rent is gone
> Maintenance maybe slower then you would like
> Neighbors tend to change often - few relationships are built
> Rent can go up

I did an analysis - after 20 yrs in our house - more then half mortgage free we spent $41k on the house more the a $1200(1994 '$) rental adjusted for inflation and assuming a 60/40 balance fund for the $ the house cost us.

I can see buying a small house where most of the things that wear out have already been replaced. You can hire a maintenance company to deal with everything. And if you have a large family its a no brainier but for two people with older kids(adults) rentals should be considered as an option.

 

[Ronstar]

I like our vacation town home. The only maintenance I've done in 12 years is paint the inside garage wall after the HOA fixed a pipe. I see us downsizing from our primary house in the next 10 years. Too much maintenance.

 

[BellBarbara]

I am so sick of yard work. DONE.