Home Buying in Pinole>Question Details

Hazel0982, Renter in Concord, CA

First time buyer, I'm thinking of buying a condo in Pinole or maybe a cheap house.

Asked by Hazel0982, Concord, CA Mon Aug 20, 2012

I'm undecided what I want to buy. If I l buy and live in a condo for a couple years, will I be able to easily turn that into a rental property?

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6
Pinole would be a great start if you can find a "cheap house". We are starting to see multiple offers. There are condo's in Pinole however most of them feel like apartments.
0 votes Thank Flag Link Wed Mar 4, 2015
Pinole would be a great start if you can find a "cheap house". We are starting to see multiple offers. There are condo's in Pinole however most of them feel like apartments.
0 votes Thank Flag Link Wed Mar 4, 2015
Congratulations on considering the idea of home ownership.
Your first step is probably to get preapproved with a reputable lender so you can find out what you might qualify for. Once you have a preapproval, you can then start considering that possibilities there are in the price range you're approved for.

With regard to selling in a couple years, it could be a possibility but obviously, no one has a crystal ball to project what the market might look like at that time.
0 votes Thank Flag Link Mon Aug 20, 2012
Step 1 is to be 100% certain about how much you qualify for to purchase a house versus a condo/townhouse etc. There can be a significant difference because HOA dues vary greatly. After you understand your numbers, then compare what is available at each level and decide which you prefer. HOA rules change so a complex that may allow you to rent now may not in the future due to changes in owner to renter ratios - there are no guarantees unless you purchase a house.
0 votes Thank Flag Link Mon Aug 20, 2012
That will depend on the HOA restrictions per development/community. If you have some particular communities in mind please feel free to post them or email me and I can check what restrictions they may have.

If you have any other questions please feel free to contact me!

Davey Cetina
Buyer’s Specialist | DRE# 01887446

Better Homes and Gardens Real Estate
2095 Rose St, Ste 100 | Berkeley, CA 94709
[t] 510.517.7238 | [f] 510.780.2110
david.cetina@bhghome.com
0 votes Thank Flag Link Mon Aug 20, 2012
Hazel: Sometimes condos are more expensive than the 'cheap' houses.
The condos have home owner association dues that cause you to qualify for less purchase price than a 'cheap' house.
You can just as easily turn the home into a rental as the condo.
When given the choice buy the house!! Good luck to you!
0 votes Thank Flag Link Mon Aug 20, 2012
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