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Which is a better investment, a condo townhome or a non-condo single family home?--same list prices

Tue Mar 11 2008, 07:30 - Livingston - Home Buying - 5 answers
 
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Justin
Home Buyer
in New York
Justin, Home Buyer in New York in New York
Answers (5)
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Don Tepper was FIRST TO ANSWER
A single family home consistently appreciates at a great rate than a condo. When you sell you are up against listings in your development that have the same basic floor plan and space that you have. One listing which discounts in price can affect the entire inventory if it sells lower. Homes in single family neighborhoods have much more potential for growth, especially if you were to upgrade the home.
Check out sales in your a particular neighborhood by clicking here:
http://www.homeinsight.com/Widget/default.asp?WK7JL36V3VLE
I hope I have been of help.
If you want to hire five great agents for the price of one - "get to know us--it pays"
The Cross Keys Team
Sandra Bolcar
RE/MAX VILLAGE SQUARE
973-744-7722
sandra@thecrosskeysteam.com

Fri Mar 14 2008, 09:30
Web Reference: http://www.thecrosskeysteam.com
 
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It depends on what you like. In an unsteady real estate market it is sometimes tougher to re-sell a condo or townhome. If you are going to be in an area for a long time then it does not matter. However if you are planning on staying in your new location for 5 years or less then the single family home is the best option. You always come out ahead!

Thu Mar 13 2008, 17:47
Web Reference: http://www.hotnjhomes.com
 
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I have the perfect solution the best of both worlds! I have a single family 2br attached rowhome in Metuchen priced better than most condos in the area and no maintenance fee! Steps away from NYC train station walk to beautiful downtown...many upgrades!

Tue Mar 11 2008, 15:16
 
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In Essex County the town of Livingston, if all were equal, a single family home would be a better investment. Proximity to Houses of worship is very important in Livingston also!
Walking distance commands a better price. Give me a call & we can discuss it further, I am a life long resident of Essex County. Please viwe my website for my qualifications & information

Stay well
Bob DeMassi

Tue Mar 11 2008, 14:03
Web Reference: http://robertdemassi.prunewjersey.com
 
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FIRST ANSWER
Impossible to tell. It depends on location, conditions, comps, and many other factors. Even assuming that the comps for the two are the same, one location might be better and offer a greater likelihood of appreciation, for instance. And/or depends on what might need to be done: a townhouse in good shape or a single-family home that's a fixer-upper. You might be able to add additional value to the single-family home, especially if the good-condition surrounding properties are priced substantially higher.

Assuming everything, absolutely everything, is equal, many people would prefer the single-family home. But remember: Nothing is ever absolutely equal.

Hope that helps.

Tue Mar 11 2008, 07:59
Web Reference: http://www.Solutions3DHome.com
 
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