Buying House Vs Condo Reddit

I dont understand why people think that renting is throwing money down the drain or why owning a house is supposed to be everyones goal in life. All that though is only true sometimes some homes are in a very strict HOA where you cant do much of anything.

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I live in California where the cost of land has risen at a significantly higher rate than the cost of the structure.

Buying house vs condo reddit. A fair cost comparison considers the amount of a condos association fees upfront and adds that sum to the total cost of the house or condo. With a condo you get to live within a community with amenities you dont see in a traditional home purchase. Advantages of condos vs mobile homes.

In this episode we discuss if you should buy a house or a condo and what the differences are. Lets say because I have good credit 750 that Im able to get a pretty decent interest rate and save up 20 down payment. Renting is a tough decision in much of the country.

The house is a little more work maintanence lawn snow removal etc but a condo gives you less control. Buying the same house would be 600k Buying a condo in my area would be 300k in my neighborhood. There are very stringent budgeting rules with respect to reserve funds.

A condo is usually less expensive than a free-standing house. First-time home buyers might worry about the. Condos are cheaper in this area lets say 350k.

Bago lang po ako dito sa reddit group and i just want to ask if now is the best time to buy a condo unithouse considering may pandemic pa din but the economy is slowly getting back up. The main issue with condos is that its not a great investment compared to a home but it does a lot less maintenance. You dont have to worry about landscaping the roof or the exterior walls.

The most significant advantage youll get from a condo is security. When you get a single-family home that is everything you get. Lenders sometimes charge more for loans on condo units because of the strength of the condo association financials and other factors.

Buying a condo for the amenities might make it an appealing choice. I realize condos have fees but homes also have maintenance. Single-family homes tend to appreciate more than condos partly because people have a hard time envisioning paying a higher sales price for a property where they have to pay condo fees.

Plus the mortgage interest rates might actually be higher on a condo vs. Im someone who doesnt need or want a lot of space and I dont want to deal. A few standard amenities include a pool gym and a clubhouse.

The appreciation made up for it though compared to a condo. We also explore how to know which is better for you. There is the saying that condos are the first to drop last to rise I ended up buying a house but also ended up paying a TON on maintenance and repairs.

The people who generally profit from condos are the developers alone. For example in San Jose CA a 300k 400 sq ft of land condo from 95 is now about 600k but a 350k house 10k sq ft of land from 95 is now 12M. For example an association fee of 250 monthly is comparable to an additional 50000 on a 30-year mortgage with a 45 interest rate.

Condo or Townhouse vs. Lets say that I want to purchase a townhouse or a condo. Condo fees tend to start low with new developments to attract buyers.

Im planning to buy a 1BR setup para ipa-rent once maka recover na tayo sa pandemic for students staying here in manila or for short term rental like foreigners. I want to live near the center of the city so renting is the best option. Condo fees always start low because new things are typically hard to estimate major repairs on.

However keep in mind that all housing options come with their pros and cons. 2 miles west of me in the outer region of the city a condo is 225k a house is 400k and a house my size would rent for 1800. A house and condos can be harder to sell.

Condos usually employ doormen have gated entries and some even hire security professionals. Many homebuyers would rather put that money into home improvements of their own choosing. Condo probably makes the most sense.

I want to know what everyone thinks the advantages of buyingrenting a house vs a condo vs townhouse vs an apartment. The condo board or HOA covers those. Buying a condo vs.

Comparing Condo and House Prices. Situated on their own lots detached homes often provide owners with the most freedom when it comes to improving the. Buying a condo vs.

Condos are much smaller in square footage and maintenance is typically cheaper because youre only responsible for the interior of your home. As time goes on.

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