I assume you meant to say the 93401 area of San Luis Obispo. If that is the case your choice is simple as there are almost no houses for sale in that area between $300,000 and $400,000. All condos and townhomes I'm afraid. There is one house at 540 Buchon St which just came back on the market at $325,000. But to answer your question about condos and houses: which makes a better rental? It really depends on the needs of each investor. Condos are great for out-of-town owners as there is hopefully someone with the Owner's Association keeping an eye on the exterior maintenance. It is true that houses have traditionally appreciated more than homes, but that is not always the case, and the difference may be easing a bit as there are increasingly greater numbers of young singles and empty nesters in the market. If you would like a free, no-obligation list of properties available in the 93401 I can gladly provide them. Just email or call me.

Ken Taylor
Century 21 Hometown
805-748-0021
KenTaylorHomes@gmail.com

Hi Steve,

To answer your question, typically a single story home is going to be more desirable to renters and future buyers down the line, which is important to think about with regards to an investment. Second, you'll end up saving a lot of money if you're not paying additional expenses for monthly HOA fees that may adjust up in time. And last but not least, homes on average tend to appreciate quicker than condos, which also means more money in your pocket.

Just make sure the home your buying is set in a good location- location plays a very big part when it comes to renting and resale.

Good luck in your search. And of course if you don't already have a Realtor your working with in SLO, I'd love to help.