Which is better now... home or condo ?

[Doug]

I mean as far as future value.

I think condos are over-rated, and will do worse overall than an actual house in coming years.

My logic is the condo fees become more of a burden in tough real estate times, so people would want to kill that monthly bill.

There are benefits to a condo, many have stuff like a pool, jacuzzi, tennis courts, weight rooms,etc, that you wouldn't have in a modest house, and no lawnmowing, snow removal to do yourself, but the fees get to be too much.

There are also a lot of bad points to a condo...neighbors too close, and restrictions like no motorcycles,etc.

I don't think I'd ever buy another condo.

I pay $196/month( plus several special assessments a year) in fees and get nothing like a pool,clubhouse,tennis.

What do you guys pay for condo fees ?

 

[Buster]

138 here doug...however when i get out i will never live in another HOA again,if i can help it

 

[lapdance]

houses by far

 

[Doug]

Condos seem really iffy to me, as well. I think that segment will get hit hardest. I can't see ever owning another one.

 

[5teamparlay]

houses by far

Agree

Fees will eat you in a condo... NO ROI.

 

[HamGlaze]

138 here doug...however when i get out i will never live in another HOA again,if i can help it

So did you ever end up going back to Section 8?

 

[seldomseen]

And condos are the first to lose value if the market ever comes down again.

 

[3peet]

Houses are and always will be worth more than a condo.

 

[Doug]

I really hate condos, too much with the BS rules. Why the fuck can't I park a motorcycle in MY parking spot or my company truck, so I work for ABC plumbing and the vehicle has signage, so what ?

Do I have to put my motorcycle in the bed of my pickup truck to make it legal ?

I love having an actual house at the end of a lonely street that has only 3 homes and abuts hundreds of acres of marsh and forest, even the private road in is iffy looking, gigantic potholes, almost sinkholes. Some people refuse to drive down this street.

 

[halekulani]

condos are good to rent out b/c it becomes low maintenance although it cuts into your profit margin
but to live in, houses >*

 

[niltes]

one can not make a blanket statement that houses are better than condos in all
markets for everyone. condos will almost always get one more square footage
per dollar than a single family home; but again that's just part of the story.
one should really make that decision based upon the cost/benefit of each
and compare them for that specific geographical market. because of
negative bias, sometimes condos are a better deal than houses. for some
people owning a condo is far better and sometimes the only option compared
to renting (which is usually the worst long term option). I could go on, but
i'll keep it short.

 

[REDEYE]

HOA's are in housing develpments too.. Had one for 11 years in my last house I just sold

 

[tanner12oz]

House is inevitably a bad idea..no chance in maintaining when your old and frail. Hell its a pain already at 35. Unless you have a family condo for sure.

 

[HacheMan]

Ask BAS he has both haha

 

[5teamparlay]

Sold a Townhome outside of Chicago for 199k in 2003

just looked on Zillow - its 183K lol

16 years later


horrible market

 

[Seymour]

I live in a condo but I have to agree in terms of future value a house is a better bet

 

[skins85]

Currently live in a townhome/condo. Fees are high. I pay $285 a month but I live at the beach. No pool however. Owned it for almost 5 years and will be looking to buy a house but keep the condo. Where we live the rent is so high and condos are the only smaller places to rent that it’s actually got a good chance of being profitable. If not for the ability to rent with ease I wouldn’t buy another condo until I’m older and don’t want the hassle of maintenance. I’m 33 and have 2 young kids, the condo gets smaller each day.

For future value I would almost always say house unless your condo is easily rentable or a retirement destination where people with money will retire one day.