Home Buying in 33178>Question Details

Daniel Oquen…, Other/Just Looking in

It is better to invest in single family or townhouses in the City of Doral?

Asked by Daniel Oquendo, Sat Sep 29, 2007

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5
Hello Daniel,
In Doral the prices of single family homes have slided downward, just like the condo/townhomes, however the ratio of condos/townhomes is much larger than single family homes, so an an investment the single family home is much safer bet.
0 votes Thank Flag Link Thu Oct 4, 2007
I agree with Pam... single-family is a better investment. Definitely do your homework to make sure you buy at the right price, as you would do with any investment.
0 votes Thank Flag Link Sun Sep 30, 2007
Typically a single family is a better investment. I would look at the inventory and statistics in the area.
0 votes Thank Flag Link Sat Sep 29, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
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Hi Daniel- The MOST IMPORTANT FACTOR in determining your answer is how long you plan to hold the property. Do not consider even purchasing real estate as an investment unless you are willing to hold for at least 3 years, preferably 5 and up.
If you are willing to invest for the long haul, then it doesn't matter whether it is a condo or a single family. Buy quality, buy location, and certainly, buy within your means, and you'll be successful. If you would like to discuss it more, feel free to contact me.
Ramesh
786-205-1133
0 votes Thank Flag Link Sat Sep 29, 2007
That is a personal decision. It will depend on what do you need, is it an investment? or are you looking for a place to live?

Anyway, if I would have to decide I will say a townhouse will be easier to rent. A single family home will be my choice if its a fixer upper and I can buy it at $150 per square feet in order to have a decent gap for repairs and profit.
Web Reference: http://www.owndoral.com
0 votes Thank Flag Link Sat Sep 29, 2007
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