Home Buying in Fort Totten>Question Details

Ulysses Garr…, Home Buyer in Washington, DC

I'm a first time buyer and I would like to know as a single man would it be beneficial for me to buy a condo or a single family home?

Asked by Ulysses Garrett, Washington, DC Sun May 8, 2011

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Suzanne MacDowell’s answer
That depends entirely on your lifestyle. With a single family home you will have to do chores such as lawn care and you will also be responsible for maintenance of both the inside AND the outside of the home. With a Condo the association generally takes care of these two items.

I am a single woman myself. When I sold my single family home, everyone told me I should go into a townhouse but I resisted, I wanted my own backyard and was willing to do the extra work in order to gain that benefit. Now, however, my children are grown and gone and the entire responsibility for all home maintenance falls solely on me. I am still happy with my choice, but find myself looking into hiring people to help around the house because I am so busy with other things. I often wonder if I made the right choice.
2 votes Thank Flag Link Sun May 8, 2011
Whenever you buy, remember that you have to sell one day. It might be 5 months, 5 years or 50 years, but you want to appeal to the most potential buyers as possible. It's an investment and you want to maximize your return. Always stay within your price range of course, but stay with the qualities that will always attract good, qualified buyers (preferably in droves).
0 votes Thank Flag Link Thu Mar 14, 2013
This would depend on a few things..

1. What do you prefer?
2. How long do you see yourself being a 'single man'?

In the Fort Totten/Catholic U/Brookland area there are some very good deals on condos if it would suit you, but you might be better off buying a SFH if there is a good chance you are going to settle down and have kids in the near future. Just my thoughts..
Web Reference: http://www.craigfauver.com
0 votes Thank Flag Link Wed Jun 1, 2011
Single-family homes are strong bets in any market; however, as a single man, a condo is not a bad option. In downtown DC, condos are always in demand. Even if it is just you, I always recommend 1BR + den or 2BR due to better resale values though.
0 votes Thank Flag Link Wed Jun 1, 2011
Single Family home saves you the moving and in most cases the HOA fees that condos have. You can also look into first time buyer's down payment assistance or foreclosure home credits.
0 votes Thank Flag Link Thu May 26, 2011
No matter your familial status, a single family home will be more flexible in the long run - less unknowns in future assessments, taxes, upkeep, etc. If you need a gym, buy exercise equipment with the money you are saving by not paying condo fees. :)
0 votes Thank Flag Link Thu May 26, 2011
Ulysses,

What appeals to you more? Would you rather have a small yard, or not have to do any yard-work? Do you like to make a lot of noise? Would you mind it if you had a condo and your neighbors were noisy? Ask yourself these questions before you buy anything.
Web Reference: http://www.craigfauver.com
0 votes Thank Flag Link Mon May 23, 2011
I don't think it is important whether you are single, married, male, or female. Condo living is very different than living in a single family home. You will have more maintenance responsibilities in a single family home, but that also means you have more freedom to do as you want.

I would say that a lot depends on the area you are looking at. For a first time home buyer, you want to get something that is big enough for you, but comfortably within your budget. You probably also want to find something where the value can appreciate over the next few years and you will be able to sell relatively quickly when you are ready.

Talk to a Realtor to get more information on homes in Fort Totten, but basically you want to make sure you are buying something pretty mainstream so that you will be able to move up or sideways in the future if your situation changes,
0 votes Thank Flag Link Sat May 14, 2011
It depends on your short / long term goals

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0 votes Thank Flag Link Thu May 12, 2011
Condo's seem to fit the single/on-the-go person but if you plan on changing your single status some time soon you may want to consider other types of property ownership. The typical timeframe is 7 years of living in your first purchase... a lot can change in that time.
0 votes Thank Flag Link Thu May 12, 2011
Usually the item that you mention first is the one you want to select.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Sun May 8, 2011
Hi

It depends your lifestyle, what you can afford, do you want to be within walking distance to things or do you want to have a yard? You need to think about these types of questions to understand what would work best for you. If you buy a condo now it doesn't mean down the line that you cannot sell it and buy a house or vice versa. There are homes within walking distance of the metro and other amenities but do you want a yard that would need maintenance?

Good luck!
0 votes Thank Flag Link Sun May 8, 2011
Ulusses the key question is how do you want to live, a condo is great for someone who does not want to cut the grass, maintain an exterior and shovel snow. A condo may have other amenities such as a club house and a pool that a single family wont have.

Whether yoru first, second or tenth house, it is where you want tio live and how you want to live. Eother way your forst step should be to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know what price range you should be looking in.

Please see my nblog for tips on getting a mortgage

http://www.trulia.com/blog/scott_godzyk/2010/10/where_do_i_i…

Good luck with your search
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun May 8, 2011
thanks for the response suzanne. i think i may lean toward the condo for now and look to buy a house in a few years. not to say i don't think i can handle the chores but i just don't want to be bothered with all of that at the moment. lol. thanks again.
0 votes Thank Flag Link Sun May 8, 2011
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