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Buying a townhome/condo

Discussion in 'BBS Hangout' started by Dr of Dunk, Jan 10, 2004.

  1. Dr of Dunk

    Dr of Dunk Clutch Crew

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    Is there a big difference between buying a townhome/condo vs. buying a house? I have no idea about these things. I'm looking to buy a townhome or condo within the year hopefully. I was wondering if anybody knew any "gotchas" or things I should look out for.

    Also, I've been told buying one of these things is a waste and I should just get a house - of course the person that told me this said he couldn't really clarify or quantify why... so...

    I've done some preliminary research into this for all of 45 seconds. :)

    Thanks for any help.
     
    #1 Dr of Dunk, Jan 10, 2004
  2. LongTimeFan

    LongTimeFan Member

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    I'd expect this from someone new to the board, but YOU DoD?

    :eek:
     
    #2 LongTimeFan, Jan 10, 2004
  3. Severe Rockets Fan

    Severe Rockets Fan Takin it one stage at a time...

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    Gasp! DOD commiting the cardinal sin! :D
     
    #3 Severe Rockets Fan, Jan 10, 2004
  4. SamFisher

    SamFisher Member

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    REPORTING POST TO A MODERATOR
     
    #4 SamFisher, Jan 10, 2004
  5. AroundTheWorld

    AroundTheWorld Member

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    What happened? And why is the Hangout showing "Last Post: Never" showing on the front page of the BBS?
     
    #5 AroundTheWorld, Jan 10, 2004
  6. SamFisher

    SamFisher Member

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    This thread was moved from GARM and was at the top, hence it mesed up the "Last post in Hangout forum" stat for a second.
     
    #6 SamFisher, Jan 10, 2004
  7. Dr of Dunk

    Dr of Dunk Clutch Crew

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    Um... I was testing the umm... "Reporting to Moderator" feature.


    *cough*

    I get the feeling I won't be getting an answer to my all-important question now. *sigh*. :)
     
    #7 Dr of Dunk, Jan 10, 2004
  8. The Real Shady

    The Real Shady Member

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    #8 The Real Shady, Jan 10, 2004
  9. Nomar

    Nomar Member

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    Finally. . . without his mighty bots at last.

    The moment has come for my triumph!!!

    ;)

    Buy a house, sit on it, then sell it for a profit.
     
    #9 Nomar, Jan 10, 2004
  10. Mango

    Mango Member

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    Contemplate the issue of a Homeowners Association (fees and authority/power issues) when considering a Townhouse or Condo.

    Contemplate for a long time before making a decision.

    Buy a house after you have finished contemplating.
     
    #10 Mango, Jan 10, 2004
  11. mrpaige

    mrpaige Member

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    HOAs are a fact of life for many regular home owners, too.

    That wasn't a townhome they took from Mrs. Blevins, after all.
     
    #11 mrpaige, Jan 10, 2004
  12. Faos

    Faos Member

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    Tell me about it. Our fee went from $600 to $660 this year.
     
    #12 Faos, Jan 10, 2004
  13. pippendagimp

    pippendagimp Member

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    In the event of a down economy when bankruptcies and foreclosures abound, you can really get stuck if you own a condo. The various communal expenses associated with a condo can be re-allocated from the bankrupt tenants to the solvent residents - leaving you basically shouldering the financial liabilities of your neighbor down the hallway.

    Buy a house if you intend on living there for 15 yrs minimum. Otherwise, rent.
     
    #13 pippendagimp, Jan 11, 2004
  14. RIET

    RIET Member

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    The biggest advantage of owning a townhouse/condo is no maintenance.

    You don't have to mow the lawn, etc...

    The downside is you have to pay a monthly fee to take care of the premsies. Also, unless you have a stand alone townhouse, you have close neighbors.

    If privacy is an issue, go with the house.

    You also have to watch out for assessments against townhouse/condos. For example, if your condo units need a new roof, all the owners share in that expense.
     
    #14 RIET, Jan 11, 2004
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