Would you purchase a 1 bedroom condo 3 years old in a great location near shopping, new malls, excellent resturants and 15 MIN to the beach in Jacksonville florida. Or purchase a house that is built in 1950's in same location for same price. House or Condo?
2006-06-22 07:24:39 · 14 answers · asked by Runabout 2 in Business & Finance ➔ Renting & Real Estate
I have owned 2 condos & 2 houses. I noted that owning and living in each of them posed different benefits and concerns.
CONDO is the way to go IF
1 - You can afford to pay the Mainteance Fees.
2 - You realize that even after you pay the mortgage on your condo, you will also still have to continue paying the mainteance fees.
3 - the BENEFIT is that there is no shoveling of snow, and the association will do all outside repairs.
A HOUSE is the way to go if:
1 - You want more privacy
2 - You want your own private yard. I miss that about the houses.
3 - If you enjoy or are willing to do some repairs around the house. I learned how to do all sorts of things & loved it.
4 - There are NO Mainteance Fee payments to an agency, you just pay for your own repair costs.
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2006-06-22 07:39:54 · answer #1 · answered by *??SnowShoer1??* 3 · 1⤊ 0⤋
If the house is going for the same price and it is basically in the same location, then something must be up -- there would be a good chance that the house is in enough disrepair that its value has diminshed to equal that of a condo. In that case, unless you're an investor who is more interested in the land (perhaps in order to build two houses on the property) than the improvements already made to it (e.g., the building itself), you'd be better off going with the condo.
2006-06-22 14:33:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would personally prefer the house. Condos mean neighbors on the other side of that wall, and restrictions from the condo association that you may find down the road you are not comfortable with. Plus condo association fees, etc...
But on the other hand the Condo Association usually handles the lawn work and painting, etc.. thru the fees, so it could be nicer for you in some regards....
Personally though, I still would prefer my own house.
2006-06-22 15:58:43 · answer #3 · answered by ReggieWjr1 4 · 0⤊ 0⤋
It depends on your lifestyle...as a condo owner, the yard work and some repairs are taken care of. Perfect if you're not the DIY type. If you had a house, you'd have your own yard and driveway.
Good luck whichever way you go.
2006-06-22 14:31:35 · answer #4 · answered by princess 2 · 0⤊ 0⤋
House, but it depends on the condition of the house. I wouldn't buy a house in disrepair if the ONLY other alternative was a nice, new condo!
2006-06-22 14:28:44 · answer #5 · answered by Iamnotarobot (former believer) 6 · 0⤊ 0⤋
It depends, out weigh them both do you want more space for later on adding on to the house and a yard, privacy, how many square feet, etc. I'd go for the house.. : ) Even though it is older and might need some work. you get so much more in the long run you know fixing it up how you want it and so forth...
2006-06-22 14:34:37 · answer #6 · answered by *butterfly* 2 · 0⤊ 0⤋
HOA dues are astronomical in FL. I thought about buying some condo's down there since they where so cheap but then I realized the HOA dues and changed my mind. I guess that's why the prices over there are still so cheap.
2006-06-22 14:41:23 · answer #7 · answered by Anonymous · 0⤊ 0⤋
My husband and I agree we would never buy a condo...it's like buying a house AND paying rent!
2006-06-22 14:29:18 · answer #8 · answered by rainprincess0820 3 · 0⤊ 0⤋
House!!! But I'm married and plan to have a family, so it depends, if you like apartment style living.
2006-06-23 13:58:59 · answer #9 · answered by T-girl 3 · 0⤊ 0⤋
It depends whether or not you want a yard! I would go with the house!
2006-06-22 14:27:46 · answer #10 · answered by Sugar Magnolia 6 · 0⤊ 0⤋