Home Buying in Pleasanton>Question Details

Tyler Moxley,  in Pleasanton, CA

Condo with now 'fixing' or a single family needing some TLC?

Asked by Tyler Moxley, Pleasanton, CA Mon Jun 11, 2007

It might be a matter of lifestyle, but where can the most money be made new construction condos or fixing up a home in an older neighborhood?

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4
Totally agree with all three previous posts. Condos affected by associations and that could give you a lot of surprises -- like assessments and increased maintenance. I Florida it hit and hurt so hard after hurricane.
0 votes Thank Flag Link Sat Jul 14, 2007
Disclosure: I renovate single-family homes for a living, so in my biased opinion, renovating single-family homes are a safer bet especially in volitile markets. The trick, of course, is finding the right property. I personally shy away from condos as an investment vehicle (although I live in a condo) since down markets usually create a 'flight to quality' which makes condo prices more volatile than single-family homes. Condos can take longer to sell in bad economic times, and I haven't seen a high enough return to justify the added risk of condos over single-family homes. Just my (highly biased) opinion.

-Josh
Web Reference: http://www.BayAreaREI.com
0 votes Thank Flag Link Sat Jul 14, 2007
As recent as last week there was a great short sale condo off Dougherty in Dublin that was priced $50K to $70K below other units. It needed a little work, but would be a great investment.

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0 votes Thank Flag Link Tue Jun 12, 2007
In my area, it is always a much wiser investment to purchase single family homes and put your money into fixing them rather than a condominium, which is harder in our area to sell. Just this agents humble opinion.
0 votes Thank Flag Link Mon Jun 11, 2007
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