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Townhome Vs Single Family Home All Locations : Nationwide Real Estate Advice

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Showing results for Townhome Vs Single Family Home [Clear search]
Sun Feb 12, 2012
Dallas Texas answered:
No Realtor can make a statement regards "future" against professional code of ethics.

As a real estate investor MUCH more comes into play for making decisions purchase any real estate investment

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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0 votes 11 answers Share Flag
Wed Nov 16, 2011
Lucy Korzelius answered:
Have you thought about Red Bank? Let me know if I can send you any information. Great Success in your relocation.

Lucy Korzelius, Sales Associate, CDPE, SFR, ePRO
REMAX Gateway
732-684-1559
lucyk@remax.net
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0 votes 20 answers Share Flag
Fri Nov 4, 2011
Larry Stephens answered:
Hello,

Thank you for your question. One of the hottest segments in Real Estate is the rental market. It is only expected gain popularity. Applying the simple law of Supply Vs. Demand, this is a good time to become a Landlord. Single family Vs. townhouse...you really can't go wrong either way. As always....Location, location, location, and property condition should be greater factors in your decision. If you are currently not working with a Realtor, I would be happy to help.

Best Wishes,

-Larry
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0 votes 8 answers Share Flag
Thu Sep 20, 2012
Erik Weisskopf,ABR,CDPE, answered:
Shaky,

Certainly depends on location! A town home is an easier and more popular investment for a host of reasons however a well located detached home can perform well too! Vague answer yes...but more info. is needed to give a more elaborate detailed answer.

You can reach out to me if you are not working with an agent..

Kind Regards,

Erik J. Weisskopf, ABR,CDPE,CRS,GRI
Erik@AskMeAboutHomes.com
703.216.1222
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0 votes 16 answers Share Flag
Tue Jan 22, 2013
Raquel Unger answered:
It is possible to find a townhome ..however a single family detached home would be a major challenge. Foreclosures are great to buy...some need work and other properties are move in ready. The price point that is mentioned above...a home that does not need work might be more suitable at this time.

Please visit my web site and set yourself on a search for the property you are interested in previewing.
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0 votes 14 answers Share Flag
Tue Sep 13, 2011
Greg & Sheila Benson answered:
Well there's nothing wrong with Arcadia Terrace, but 350K might buy you a small house in some areas of Sunnyvale. Are you set on a condo? Arcadia is set up to have someone above or below you, and therefore has more of a feel of apartment style living. They have a good mix of 2 and 3 bedrooms, and do have garages down below, but it can be a trip to your unit with the groceries. But the units themselves are pretty nice. I'd say location isn't the most prime area, but it's it's own little community, so relatively insulated from the surrounding neighborhood of apartments. I just ran comps under 400K, and it is possible to buy a 3/1 for $350K but you have to be quick, well qualified, and be able to make a decision quickly because they do sell fast. Whatever you decide, wish you best of luck, and if I can help, please contact me. Sheila Benson 30+ years in Real Estate ... more
0 votes 4 answers Share Flag
Tue Nov 1, 2011
Tom Priester answered:
Florida Investment,

There are two aspects to consider when looking into the purchase of an investment property; the return on revenue you can reasonable expect based on the purchase price and the location and how it might be affected by future price appreciation. Living in Jupiter I can tell you the north Palm Beach County area is one of the best spots you can find for future appreciation as the quality of life we enjoy is tremendous. The best place I can point you is a brief blog I did about the Jupiter area;

http://tompriester.wordpress.com/2010/06/04/jupiter-rocks/

As a resident of Jupiter, I work throughout Palm Beach and Martin Counties, and a great place to start is by defining your goals and comparing the lifestyles and housing costs of areas that you are interested in. There are so many different options available to us that reside in the state and I have selected Jupiter because of the quality of life that we enjoy. From my viewpoint, there is no finer place to reside that the Jupiter area; from the best schools, to a fantastic economy fueled by many factors and of course the wonderful facilities of Max Planck and Scripps Institute, to incredible unspoiled beaches, unbelievable dining and shopping options, numerous boating and golf opportunities, uncrowded streets, low crime and just the overall kindness of our residents. Recently, we were out with a client form New York who commented on just how nice everyone is; and why not as we are truly lucky to live in Paradise. You will find towns like North Palm Beach, Palm Beach Gardens, Tequesta and Juno Beach to have the same fantastic lifestyle.

When looking at project returns you need to carefully evaluate the purchase price and ongoing expenses like association fees, property taxes, insurance, etc. You also need to thoroughly investigate the current rental climate in the area surrounding the property. What are similar properties renting for, how quickly are the renting, how many similar properties are out there for rent, etc.

You also need to carefully evaluate the condition of the property and determine what expenses may be incurred in getting the property into rental condition. Many of my clients prefer to put hard surface flooring throughout as it stands up to wear and tear better than soft goods. One thing many investors overlook is if you are in an association will they accepts pets. Many pet lovers have a difficult time finding home that will accept their pets and this can be a huge benefit to investors. If you find a pet friendly situation it will make it easier in most locations to find tenants willing to pay a little more.

Future appreciation is hard to put a precise number on but the better the location the higher that appreciation will probably be. You can expect a little lower up front returns (in my area from 6% to 8% cash on cash returns) compared with up to 15% in less desirable areas and product types (up to 5%+).

The best thing you can do is locate a qualified Realtor who can properly assist you in locating good opportunities and be ready to act quickly when the right opportunities present themselves. Throughout Palm Beach or Martin Counties I would be very happy to work with you towards meeting your goals. The current market is really a perfect storm and in my opinion Florida real estate in the right location is one of the absolute best investment opportunities we will see in our lifetimes.

Best of luck and if I can offer anything additional please let me know.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"


Keller Williams Realty
561 308-0175
tom@tompriester.com
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0 votes 6 answers Share Flag
Wed Aug 17, 2011
Shan Saigal answered:
Hi Avin,
You pose all the right questions, however, you and your wife/significant other will need to decide on most of these scenarios on your own as they will be your personal choice.
I have a buyer and they studied similar situations for a while. They put an offer on a Town home in Warm Springs area, however, they went to Union City area to look at a larger single family home. Then we went to Evergreen, and now to Santa Teresa to look for a single family home, which was a lot larger and it was also newer. Elementary school district was good, High School is not so good now, so he thinks it may get better later.
I think they wanted a good school, in a newer area-so newer town homes are easier to find in a good school area, however, it is difficult to find newer homes in similar price ranges in a good school area-so you figure this out.
Best.
Regars,
Shan Saigal
408-505-9302
Broker-Referral Realty Silicon Valley
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0 votes 18 answers Share Flag
Wed Jul 20, 2011
Joe Carey answered:
Good question. The market is obviously very different today and still changing rapidly. Single family homes have traditionally had a broader market appeal meaning that you potentially have more buyers looking at the property when it is time to sell. I would do a very specific market analysis on each property and neighborhood to try and determine buying and selling trends in each area. Knowledge as you know is power ! Either way, at least you are buying in a desireable area here in Georgia which is a bit of a safety net if there is one. Let me know if I can be of assistance and best of luck to you.
Joe Carey
770--365-9467
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0 votes 8 answers Share Flag
Fri Jul 15, 2011
Christopher Pagli answered:
hi, I answered another one of your questions. You should look for an agent that specializes in distressed sales. There is alot of information you need to know when purchasing so don't settle for someone that isn't forthcoming. When someone is vague it usually means they don't know. There isn't a difference in time from a townhome or single family it's all the same process. Unfortunately you will have to wait the process out and one of the issues that arises for buyers is your mortgage committment expires. Then you have to extend it and you may not qualify at the same rate or may have to pay up to $1,000 to keep the rate and extend! It's a chance you tak, this is one of the reasons many shortsales don't close. If you are looking for a quick close I wouldn't recommend a shortsale.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
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0 votes 8 answers Share Flag
Thu Jul 14, 2011
Christine Sherrod answered:
Hi Sabrina,

The first step in the process should be for you to qualified for a mortgage, whether it be through your credit union or current bank. Washington DC is an easy place to rent or sell because of the DC market so your decision between a condo or a single family home would be made as to what sales price you would qualify for. Once you have been prequalified for a mortgage, I can send you some listings for your review. There are also different programs for DC buyers, especially if you are a first-time homebuyer. Please feel free to give me a call or visit my website for some useful information, since I primarily work with first-time homebuyers.

:-)
Christine Sherrod,Realtor
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0 votes 9 answers Share Flag
Fri Dec 14, 2012
David Allen Rivas answered:
Rental income in both areas are high. Downtown is hip but your going to pay more in a great location probably with a newer condo near downtown Mountain View. Sunnyvale west does not have a lot of new condos at all. Born, Raised, Live and Work in Sunnyvale I would select Mountain view if the numbers make sense??? I would have to see. A great place to buy right now for future growth is in and around downtown Sunnyvale. Investors are lining up to buy and complete this downtown and when that is done. I would say buy here. Or buy here in Sunnyvale before it is done for maximum return. Contact me without any obligation to run numbers and compare in real time with real numbers. Both a great investment. ... more
0 votes 8 answers Share Flag
Thu Jul 14, 2011
Gita Bantwal answered:
Please take into consideration that if you consider $350 per month additional for a townhouse, you can buy a more expensive home without the monthly fees and at today's rates it is quite a lot.
You should get a market evaluation of the townhosue and ask your agent to show you how long it takes to sell a townhouse vs a detached home in the area and to show you the appreciation of the two in the last couple of years. It will also depend on your life style . Most of the time people can buy a newer townhouse with lots of upgrades for the same price as an older single house .
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0 votes 7 answers Share Flag
Mon Jun 27, 2011
Ashleigh Masi answered:
I live in a townhome in 33772, and I can tell you from experience, that it is convenient to everything! We have groceries, banks, shops a mere 5 min. from my location. Plus I can get to 275 or St. Pete (Tyrone) in about 15 min. The beach is about 10 min. depending if I hit the Park Blvd. or Walsingham bridge. Are you looking in a more specific neighborhood vs. a zip code? As 33774 and 33776 intertwine with 33772 in various places. If I can be of any more help, just let me know.

Thanks and good luck!
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0 votes 3 answers Share Flag
Mon Jun 27, 2011
Ron Thomas answered:
We have answered this question about 50 times in the last few months, and there is more than one answer:
1.) Real Estate is a long term investment.
2.) No one has a crystal ball
3.) A lot of very knowledgable people have prophesized that the market will be up by next year.
4.) The market will not be up next year FOR YOU unless you get in it.
5.) It will make a big difference if you are looking for a home or an investment.
6.) If you think you (or anyone) can tell when the market is at the BOTTOM, please tell us.

Good luck and may God bless
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0 votes 7 answers Share Flag
Mon Jun 20, 2011
Darrell Hess answered:
Although you have a decent idea there is a little bit more to it. This is an area our team specializes in and are currently working with several seasoned and green investors like yourself. If I started to write a simple guide here on this Q&A window I would run out of characters and it would be a wall of text for everyone else. I'll touch on a few questions to ask yourself, but feel free to email me or call and we can set up a time to go over your "game plan."

1. Since you stated "pay it off" have you spoken to a loan officer about what type of investment loan options he/she offers.

2. Who is going to do the repairs? (those homes under 50k will almost certainly need them if not major updating to attract good tenants).

3. How do you plan, or rather what systems do you have in place to keep your goals streamlined?

There are a lot of variables here, but in the end you need to find a good real estate agent to work with. They are there to help you decide what it is you want to accomplish and what properties will help or hurt your goals.
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0 votes 14 answers Share Flag
Wed Jun 1, 2011
Anna M Brocco answered:
Much will depend on the exact location; generally with a townhome one typically gets little or no yard, common walls, hoa fees, one may or may not own the land it sits on, less privacy, etc. ... more
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Sun May 17, 2015
Jeannie Apostole-Holden answered:
Your question is a good one, but your assumption in terms of what actually happens is not exactly accurate. . Location, location, location is what really counts. If you have a sf in an area not as desired as a condo/townhome in a desired location/complex, your ROI may not be more. If you compare apples to apples, meaning same locaiton and desireability, you may find sf to get more ROI because you have more people who want that in terms of sheer numbers of buyers. ... more
0 votes 6 answers Share Flag
Tue Aug 2, 2011
Jessica Hood & Laura Roskelly answered:
It would all come down to the numbers. Costs in versus return on current market rent. It is a great time to invest as well priced and prepared rentals are receiving multiple applications in days. You need a seasoned pro to show you what areas are moving and help you find the right property for the right price. Anywhere within 20 minutes of Fort Meade is going to be particularly active now with BRAC and Cybercommand folks pouring in daily. But be careful to also check foreclosure/short sale rates in the areas that are of interest to you. Some communities are at or above 30% on that ratio. And some condo communities have not been FHA or VA approved which means if you had to jump out of that investment in the short term you would be risking your hard earned money!

Piney Orchard is always a hot commmodity and much in demand with the Fort Meade crowd.
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0 votes 7 answers Share Flag
Wed May 18, 2011
Albert Lee answered:
I think it's all boils down to what actual costs(expenses) are associated with the property. Condos are usually restricted heavier than the townhouses with their own HOA(Home Owner's Asso) and maintenance fees and etc.. If you could get higher rental payments if the Condo is in a "hot area" than having those extra fees and dues could be justifiable. On the other side of the hand, owning a Townhouse may require you to do your own maintenance to keep up the appearance of the property.

Once again, it usually boils down to Income vs. Expenses to bottom line your ROI.

One thing for sure, you're in a great market to acquire a property so go ahead, do your home work with one of your local agent then build your Real Estate Portfolio!

Albert
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