Does anyone recommend purchasing a townhome or a single family home? I'm thinking of resale in the future

Asked by Nana, Romeoville, IL Wed Mar 3, 2010

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Harriet Maj, Agent, Oak Forest, IL
Wed Mar 3, 2010
Alot of great answers here, but also do consider if you will be living at this property, or are you planning on renting it out? Some Associations do not allow rentals, so do be careful. As to resale value, there are some great buys out there now. Alot to consider, if you would like to sit down and discuss all the points, or are ready to interview agents, give me a call & Good Luck to You!
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Henri And Je…, Agent, Doylestown, PA
Wed Mar 3, 2010
Hi Nana,
Find a great Realtor and have them run days on market for both singles and townhomes in your price range. If it doesn't make any difference to you as far as where you live, cosider the townhome. As the population ages we are all looking for less maintenance - someone else to cut the grass, shovel the snow, replace the roof. In my area townhomes go very quickly but check out your local landscape.
Jeri
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Tammy Fullri…, , Wilmington, IL
Wed Mar 3, 2010
In my opinion you have a much better chance selling a 3+ bedroom, 2 bath home. Condos are great for those who want little maintenance but the monthly association fees can greatly hinder the sale.
0 votes
Donald Hendr…, Agent, Ventura, CA
Wed Mar 3, 2010
I have bought and sold many properties throughout the years. I have always felt that I had better luck with single family residences with 3 or 4 bedrooms. They seemed to hold or increase in value at a better rate than condos then townhomes. Buy what you can afford and do your research.
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Pierre Calza…, Other Pro,
Wed Mar 3, 2010
Nana,

I have personally bought and sold two homes and was also a licensed broker. The best bet is to buy a home that fits your needs for at least 7 years, that the price is fair and that you are building equity with your payments. When thinking of resale, you can't make any bets not knowing what lies in the future. You can look at the area and see what type of home is keeping its value, and historically which kind of home is popular.

The best advice I can give is to buy what you can comfortably afford, fits your needs and can grow with you.
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