nymogul, Home Buyer in Dagmar, MT

What's the best choice buying condo or Single family house?

Asked by nymogul, Dagmar, MT Thu Feb 6, 2014

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7
Carson Alexa…, Agent, New York, NY
Thu Feb 6, 2014
BEST ANSWER
Hi there!
Great question. They are two very different ownership styles. Single family homes appeal to buyers to want the space, privacy and feel of being a true "homeowner". They often come with outdoor space in the form of a yard. In some neighborhoods in Brooklyn a private parking space is the norm for a single family house.

On the other side of the same coin, maintenance truly falls on your shoulders. You shovel your sidewalk, you repair/maintain and solely bear the cost of the roof, boiler and other mechanicals of the house. In a condo these costs are shared, you pay monthly common charges to keep up the property and have someone else clean and maintain the common areas and shovel your snow! If your boiler goes out in a condo each unit pays a portion of the cost. In a very small condo, which there are several of in Brooklyn, this cost is shared evenly by all the residents, sometimes in installments broken up over several months (this is called an "assessment").

Something to keep in mind if considering a 4-8 unit condo building is having an inspection done before going to contract. This will give you an idea of the current life-expectancy of the essentials: boiler, roof. I could go on and on with regard to tax implications and resale value but that all depends on your situation. If you'd like to discuss more or ask any other questions, please don't hesitate to reach out. Best of luck!
3 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Feb 6, 2014
It's really a matter of personal preferences; you probably already know the answer to the question by reviewing your personal pro/cons...
2 votes
Mitchell Fel…, Agent, Brooklyn, NY
Thu Feb 6, 2014
When purchasing a house your neighbors are not as close (even if it is just a couple of feet away!). Also, in a house you do not have neighbors above or below you. In most cases, a house is more expensive to own and maintain as opposed to a condo. Because of this you will usually be able to gain certain things in a condo for the same price such as larger square foot of living space and perhaps better condition. Also, with condos your maintenance is very light. All you have to worry about is the interior of your apartment. Everything on the exterior or "common areas" of the condo, the condo itself is responsible to maintain. This includes landscaping and SNOW REMOVAL! The monthly common charges on a condo pay for said maintenance. In the end, it is a personal decision that you will have to make. There are many other differences, if you want you can contact me direct and we can discuss it further. I would be more than happy to help you. Either way, good luck! Sincerely, Mitchell Feldman, Associate Broker, Fillmore Real Estate 917.805.0783/ MitchellSFeldman@aol.com.com
1 vote
Kathryn Lilly, Agent, New York, NY
Thu Feb 6, 2014
It depends on your personal choice: are you a hands on person that can and likes to do everything for yourself or do you prefer to defer to someone/something else taking care of the daily maintenance etc?.
Or the other choice is economic; can you afford to live in a one family house in the neighborhood that you would like to? Or are you willing to give up space, garden sometimes parking etc. and buy a condo? to be in the neighborhood that you would like?.
As for future appreciation: You control the destiny of your one family house, with a condo you are dependent on the rest of the building doing the right thing.

Best wishes.
Kathryn Lilly, Broker
Realty on the Greene, LLC
718-858-7600
KLilly@RealtyontheGreene.com
1 vote
Bill Eckler, Agent, Venice, FL
Thu Feb 6, 2014
The best choice on what type of home to buy should be based on your specific needs and means. There are pro's and con's to each that should be considerer relative to your family. Regardless of what your choice, make sure it is in a desirable location(location, location, location).....A much over used phrase but still a real estate essential! Good luck,

Bill
1 vote
Phil Rotondo, Agent, Melbourne, FL
Thu Feb 6, 2014
The answer is subjective. What do you think?
0 votes
Annette Law…, Agent, Palm Harbor, FL
Thu Feb 6, 2014
The best choice is buying the one you will never be at.========Meaning you purchased in a location that allows you to stay engaged with your community, active, stimulated and out doing the stuff you love. The wrong choice is where you see yourself on the sofa watching NCIS marathons. -----------------Of course you know that I know ones purchase objects would need to be presented in order to have a meaningful discussion regarding need and investment.
0 votes
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