Karen, Both Buyer and Seller in Texas

Would a new townhouse or old home in Niceville be a better investment property overall if I may move again in?

Asked by Karen, Texas Mon Jul 21, 2008

under 5 - 10 years? Assume the older home has already had numerous large/small updates/upgrades to bring to current styles, safety standards, etc.

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8
Susan Rood, Agent, Niceville, FL
Mon Jul 21, 2008
BEST ANSWER
Single family homes are usually a better investment. Location, Age, Price and Condition are key factors in buying any investment property. I would also recommend obtaining an insurance quote on the older home first. If you would like me to send you a welcome quide, map and a fact book on the Niceville area, just email me. The fact book has great information on our local schools and attractions in our area.
Web Reference:  http://www.SusanRood.com
2 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Mon Jul 21, 2008
As anywhere, location and price are key factors. My experience tells me that a single family home generally will hold value better that a condo or townhome. But PRICE and location of the initial investment will determine the future potential. Townhomes can fall under different forms of common area ownership; it may be condomium/townhome - where you do not own the land that lies beneath your townhouse or Fee-Simple HOA where you would own the land that lies below.

Either investment could be a winner, depending on the details. There is no magic bullet or easy answer!
2 votes
Peter Mohyls…, Agent, Destin, FL
Tue Jul 17, 2012
As a general rule. I would not buy a property that i would not consider living in at some time. Saying that, rental properties are in short supply right now and there are plenty of investment opportunities. It all depends on how you planning on using the property
1 vote
Lynn Bowling, Agent, Niceville, FL
Wed Oct 6, 2010
There are some very comfortable and affordable attached single family patio homes in the Royal Oak Village community within Bluewater Bay, that while older (1980s) have retained a good value. Because there are relatively few of them that come on the market, the few that are currently available have sold for an average of $97/sq ft. Some have updates, and when they do, these are great buys. I currently have one listing for a 2 bedroom 2 bath 1376 sq ft unit that is in the process of a major renovation and should be on the market in the next couple of weeks. The Bluewater Bay community offers so many amenities--including a marina with water access to the Intercoastal Waterway or the Gulf of Mexico--that it has great living appeal. The HOA maintains all exteriors so residents can truly enjoy living there. Give me a call at 850 259 0448.
1 vote
Diane Minks, , Niceville, FL
Mon Aug 4, 2008
It sounds like you're concerned about resale so you don't want to purchase a property that just doesn't have high demand in Niceville. MLS shows the following stats for single family homes vs. townhomes that have sold in 2008, $150,000 - $200,000 and 1200 - 1800 SF.

Thirty-eight (38) single family houses sold vs. six (6) townhouses. None of these homes were sold 'As Is' so one has to assume the condition of all houses were at least 'good.' You might think the number of each type of dwelling had something to do with these numbers. At the present time (which should not be much different than during the rest of this year) there are 28 single family homes (4 being sold 'As Is') and 21 townhouses (1 being sold 'As Is') so the supply is not that much different between the two.

The average price per sq foot (SF) for the single family houses sold this year was $123/SF and $112/SF for townhouses. So there tends to be a small premium paid for a house, but the demand stats indicate that folks are willing to pay it for the privacy afforded by a single family home.

If I can send you local housing information, please don't hesitate to call! Good luck!

Diane
Web Reference:  http://www.dianeminks.com
1 vote
Myke Atwater, Agent, Santa Rosa Beach, FL
Mon Jul 21, 2008
It depends on the location in Niceville. A townhome is a more desirable location would be a better investment than a single family dwelling in a less desirable location in Niceville. There is always a need for rentals in Niceville. An older home in Bluewater Bay, for example, would probably hold value better than a newer townhome in some places in Niceville. Give me a call, and I would be happy to send you some examples!!
Web Reference:  http://www.MykeTriebold.com
1 vote
Sharon Skelly, Agent, Niceville, FL
Thu Jul 10, 2014
For me it is all about cash flow. Townhomes can be great rentals as long as HOA dues do not eat into your bottom line. Run the numbers and pick the one that will give you the best return on investment. Most of the time that is the single family home but not always.
0 votes
Diana Hope, Agent, Destin, FL
Thu Dec 22, 2011
Hi Karen,
It really depends on what type of investment you are wanting. Do you plan on renting this property out or renovating the property for re-sale? One of things to thank about are some properties have association dues that would have to be paid by the owner and can be high. In addition, there are areas that are in higher demand. I work with an investor that buys homes in need of a little TLC. We then do a renovations and resale. Is this what you want to do? If you would send me an e-mail and let me know specifically what you want to do, I would be more than happy to assist you with any of your Real Estate needs. Please feel free to call or e-mail me anytime.
Thank you,
Diana Hope
Spinnaker Reality
diana@spinnakerdestin.com
850-582-6589

Thank You,
Diana Hope

850-582-6589 cell
diana@spinnakerdestin.com
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