meg84, Other/Just Looking in Los Angeles, CA

Debating whether or not I should get a condo vs. townhouse vs. house - which one will eventually gain more returns

Asked by meg84, Los Angeles, CA Wed Sep 9, 2009

(I hear prices will always rise with condos because they are in better locations, but they also have a lot of maintenance fees) - what's the biggest difference between the three pros and cons? Thanks so much in advance! :)

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Hello Meg,
Historically, homes maintain their value over condo's/townhomes but there are some exceptions. For instance, if the condo is located in a downtown area that is close to workplaces then it may be more desirable for home buyers than purchasing a home in the suburbs with a longer commute. Also, retirement communities tend to prefer condo's because of the low maintenance requirements by the older home owner. HOA fees are not tax deductible though and mortgage interest is and I think most people would prefer to see their money go directly towards their home value, not to an HOA.
Hope that helps.
Lauren Case, Realtor
Web Reference: http://www.laurencase.com
0 votes Thank Flag Link Wed Sep 9, 2009
Single Family houses are generally the first to rise in value and the last to decrease. Home buying is about more than an investment, you should buy something that you can afford (including all maintenece and HOA fees) and that you love and that is in a location that works for you.

Single Families, no shared walls, no HOA, more options of what you can do with the property. Downside, more upkeep and maintenence.

Condos: Very low maintenece, often added ammenities-pool, gym etc. included in HOA. More interaction with neighbors (can be good or bad.) Downside, faster turnover of neighbors (bad if you get a bad one), less options of external upgrades etc. Slower to appreciate.

Good luck in choosing what is right for you.
0 votes Thank Flag Link Wed Sep 9, 2009
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