Sabrina the value of a single family home will be more stable than a condex. Here in a declining market the value of a coondex has fallen much more sharply than a singly family. When the market turns around, the single family will rise in value at a quicker pace. This is where songle family homes become too much for an aaverage first time buyer and they can only afford a condo or condex, the condex then will have more value as you have a yard and more privacy then say a townhouse. The other agents bring up some great points. The most important is that you review the condo docs and rules and regualtions to make sure they outline all aspects of maintenance such as (for now) who takes care of the grass and snow removal and long term such as is money put aside for septic pumping, painting or roof replacement. As well common insurance is an issue. A condex can be a great way to get an affordable home. You need to do your homework though. I hope this helps.

Hi Sabrina,

The fast answer is, "It's harder to sell a condex than a single family house."

Having said that, I am assuming you are looking ahead to buying a dwelling and have not yet bought the condex. Here's why you would consider a condex: they are usually less expensive (in dollars per square foot) they tend to be almost as private as a single family home, and they don't usually have the monthly fees or onerous condo rules and regulations that a condo will have. (If you already own one, you know what I mean).

If you own one and are now living there, you will recognize that you are married to the neighbor. I have been married for 37 years and don't mind the concept, but many buyers are a little wary of who they will share the exterior of their dwelling including the roof, siding (and color), back yard snow removal at the like. Also if you install a pool, will you allow access or not, will you add a master insurance policy to cover the neighbors--just in case? What if they keep a rusty car in the back yard? What if you build a shed, and they complain? See what I mean...

A condex can be an excellent solution if the neighbor is an excellent neighbor, but it can make home less than your castle if the neighbor is a problem.

Good luck,

Dane Hahn

Hi Sabrina

Selling a condex vs. a single family can be, in my experience, just a bit more of a challenge for both Buyer and Seller. The reason for this is that FHA (which is the most common choice for 1st time and low-down payment buyers) does not allow for condex sales. I've heard rumors that this will be changing, but as of today, you cannot buy a condex with FHA financing. .

While a condex can be a great alternative to a single-family OR condo, you have to keep in mind that the items normally covered in a monthly condo fee (septic and well, exterior maintenance, master insurance policy to cover liability) are left to the individual unit owners. It can be a problem to resolve issues fairly or quickly. That said, many people are able to make it work, but it's something to be aware of right from the beginning.

If I can help in any way, you are welcome to contact me at your convenience. There are a number of condex neighborhoods in Derry that have a history of selling fairly quickly, and at good prices, which are now available at relative 'bargain' prices.

Valerie Cloutier, Realtor®
MA & NH Real Estate Services
Accredited Buyer Representative
e-PRO Certified 2008

Innovative Realty, Londonderry NH

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