Is there a big difference between buying a townhome/condo vs. buying a house? I have no idea about these things. I'm looking to buy a townhome or condo within the year hopefully. I was wondering if anybody knew any "gotchas" or things I should look out for. Also, I've been told buying one of these things is a waste and I should just get a house - of course the person that told me this said he couldn't really clarify or quantify why... so... I've done some preliminary research into this for all of 45 seconds. Thanks for any help.
What happened? And why is the Hangout showing "Last Post: Never" showing on the front page of the BBS?
This thread was moved from GARM and was at the top, hence it mesed up the "Last post in Hangout forum" stat for a second.
Um... I was testing the umm... "Reporting to Moderator" feature. *cough* I get the feeling I won't be getting an answer to my all-important question now. *sigh*.
This one's pretty nice. http://www.har.com/search/engine/indexdetail.cfm?mlnum=5505826&class=6&leadid=6&sTYPE=0
Finally. . . without his mighty bots at last. The moment has come for my triumph!!! Buy a house, sit on it, then sell it for a profit.
Contemplate the issue of a Homeowners Association (fees and authority/power issues) when considering a Townhouse or Condo. Contemplate for a long time before making a decision. Buy a house after you have finished contemplating.
HOAs are a fact of life for many regular home owners, too. That wasn't a townhome they took from Mrs. Blevins, after all.
In the event of a down economy when bankruptcies and foreclosures abound, you can really get stuck if you own a condo. The various communal expenses associated with a condo can be re-allocated from the bankrupt tenants to the solvent residents - leaving you basically shouldering the financial liabilities of your neighbor down the hallway. Buy a house if you intend on living there for 15 yrs minimum. Otherwise, rent.
The biggest advantage of owning a townhouse/condo is no maintenance. You don't have to mow the lawn, etc... The downside is you have to pay a monthly fee to take care of the premsies. Also, unless you have a stand alone townhouse, you have close neighbors. If privacy is an issue, go with the house. You also have to watch out for assessments against townhouse/condos. For example, if your condo units need a new roof, all the owners share in that expense.
