Market Conditions in Mason>Question Details

Joy, Home Buyer in Mason, OH

Is it a good idea to buy TownHome in Mason,OH ??? Or a single family house? which is better, please advice.

Asked by Joy, Mason, OH Fri Sep 21, 2007

Is it a good idea to buy TownHome in Mason or loveland,OH ??? Or a single family house? which is better, please advice. We are in a dilemma. We donot know if we want to buy townhome or SF. What could be the impact on resale value in long run...say 5 years down the line!! Thanks, Joy

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5
Hi Joy,

The market for single family homes and condos in Mason is good. I think the 1st step in determining which way to go - is to establish a price range. There are a lot of newer condos in the $100 - $200,000 price range. The price range for newer single family homes is a little higher.

You also need to determine what features are MUST HAVES - for example - how many beds and baths, 1 or 2 car garage, 1st or 2nd floor laundry. So there are many different things to consider.

Feel free to contact me direct for more information on the real estate market in Mason Ohio. I will be happy to help in any way with your real estate needs.

Sue Kirven
Re/Max Unlimited
513-295-2993
1 vote Thank Flag Link Mon Sep 24, 2007
This is a difficult question as there are many variables to consider when making this decision. A few things to think about are:
what is your price range
how much money are you putting down
how long do you intend to stay there
what types of amenities are important to you
Etc. Etc.
Mason is a great place to live, and a condo can be a great investment. Because of the local market, Mason is one of the areas, least impacted by the economic downturn in the last 5-7 years. This is a wonderful place to live and a great place to own property in, even if it is a condo or single family home. It's always nice to have options. Make sure you have an agent who understands the implications of your purchase decision, who will best represent your interests in the purchase.
0 votes Thank Flag Link Mon Aug 26, 2013
I would recommend buying a SF. Condo market still has lots of foreclosure and some communities have not been approved for FHA etc. so lots of restrictions. I can see Condo/TH market appreciates much slowly and might be more difficult to sell in the future. You also have a small audience when it is on the market. Good luck!

Shau Zavon
OwnerLand Realty
5132593058
0 votes Thank Flag Link Sat Jul 27, 2013
Joy,

My first house was a townhouse, which I still have and rent out. I would say a single family house is better value as the townhouse has a monthly fee that you have no control over. Mine is now over $200 per month and was less than $100 when I bought it. You really don't get much for the cost either, and any changes to windows, outdoors, etc. you often have to deal with the homeowner community management which can be infuriating. Also, because there are usually a lot of townhouses, similarly, there are always units for sale and what you can ask when selling is controlled by the other units on the market. Single family houses seem to appreciate better. The main benefit to owning a townhouse is you don't have to do any yardwork, etc. (but for what you pay in condo fees you can easily pay someone to do it at your house as well), there are more people around, and it is easier to rent out if you decide to (but the condo fee eats into your profits).

Dave

Dave
0 votes Thank Flag Link Tue May 24, 2011
No one can predict what real estate values will be in 5 years, but we can quarantee that there will be buyers and sellers. So, regardless of what you buy, it will sell. It is a buyers market and it is a good time to purchase any real estate.
Buying a townhouse or a single family home is a personal choice. Townhomes appeal mostly to young couples, single professionals and single parents. Mason has an excellent school rating, so you will always have buyers interested in the area. Your appreciation can be just a healty for a townhome as a single family home. When it is time to sell you want to make sure your home is in great condition. If you make the right improvments, then you will reap the greatest appreciation. It really makes no difference if you own a townhome or a single family home. What does matter is where you purchase. If your primary concern is resale value, you should consult with a real estate professional. Ask for a detailed report of neighborhoods regarding values, schoool districts, HOA reserves, appreciating values in the last 5 years and proposed other developments in the area. A real estate agent has the resources to help you make the right choice.
So, the real question is what type of living do you prefer. Are you the type who enjoys working outdoors, gardening and maintaining your home? Then you may prefer a single family home. Are you the type on the go, always on the move and would prefer the flexibilty of not being responsible for the yard and all the extra outdoor work? Then look for a townhome.
When it comes to selling your townhome or single family home you will gain appreciation according to demand. Make sure you purchase your property in a well established neighborhood. If you go with the townhome, make sure the reserves are strong and the builder has a good reputation. When selling a resale townhome buyers want a well built building and the feel of a beautiful setting. Some builders work very hard to ensure the landscape, driveways and general exteriors are designed to enhance. While others are throwing up townhomes as fast as possible and running once they have their money.
Additionally, if you choose to purchase new construction understand your appreciation is limited until the completion of the development.

I hope this information is helpful. If I can be of further assistance, call or email me anytime.
Christie Peyton, Remax Results Plus
Teampeyton@gmail.com
513-239-4205
0 votes Thank Flag Link Sat Jan 5, 2008
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