My husband and I own our 3bd, 2bth ranch home. It is old and needs a lot of costly repairs. We are tired of the maintence and upkeep therefore we are considering buying a townhouse. We have a two year old son. I like the townhomes in the area. However I think I would like a yard for my son to play in when the weather gets warmer. Also it seems like we will be taking a take backwards? Then again no yard or exterior maintence is tempting. Any suggestions.
2007-02-05 07:50:06 · 6 answers · asked by BB 2 in Business & Finance ➔ Renting & Real Estate
Well..My husband and I moved from a townhouse to a house and it has been a lot more work. I think there is nothing wrong with going from a House to a TH. It is a matter of preference. Although as your child grows, you may regret not having the extra outdoor area to play in. But if the TH is near a park, you'll have that option. I was looking forward to moving out of our TH community b/c all the residents were either empty-nesters or young professionals with no children. (we know b/c my husband sold all of the townhouses to them) I thought with moving to a house in an up-and-coming town, we'd meet more people with kids....as it turns out, our house is in a subdivision that seems to be a lot of older people with kids in JrH, HS and college.
go figure : )
2007-02-05 07:59:25 · answer #1 · answered by MommyToo 4 · 0⤊ 0⤋
You will pay for the upkeep either way. I have lived in an HOA townhome/Condo complex for the past 10 years. It is easier just to write the check and most of the upkeep is done. However, you lose the control over what is done and the association may pay too much for a service. With a home you have the flexibility to screen different companies and do repairs and upkeep on your home on your schedule. You also have to take under consideration that HOA complex's are generally higher density. You will probably share at least one wall and may hear your neighbors.
You may wish to consider taking out a HELOC or 2nd mortgage to fix up your house. You will then have an updated home that meets your needs. Also, if your home needs repairs you will not be getting full market value, especially in this housing market. You should look at all your options, and costs associated with them, before making a decision.
2007-02-05 08:02:46 · answer #2 · answered by Michael 2 · 0⤊ 0⤋
Most communities have property management companies. They are often run by real estate professionals. I would check your local yellow pages for property managers or call some local real estate agents for assistance. There should be no fee to you for this. Some property managers for rentals may charge a small fee for a list of their available rentals. A Realtor can search for homes that are "lease to own," that is, a house for sale, where the seller would consider a lease option. In that case, you would rent for a term (usually a year) and have first option to buy at the agreed upon price. This gives you time to save money and fix credit issues. Sometimes you would pay a little more than market rent during this time and that extra money would go toward your down payment. A Realtor can refer you to some motgage lenders, who can prequalify you for the eventual loan. The lender can also counsel you on the homebuying process and help you with your credit issues. I would NOT suggest trying to do this yourself from a web site. Good luck!
2016-05-24 19:05:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I once owned a single family home. I now live in a townhouse. I owned the single family home for about 18 months. I have lived in the same townhouse for 18 years. That should tell which I prefer.
My townhouse is in a condominium complex. We have private streets, playgrounds, ball fields, tennis courts, basketball court, swimming pool and so on. All of the amenities cost me about $35 per month in condo fees.
2007-02-05 08:11:01 · answer #4 · answered by regerugged 7 · 0⤊ 0⤋
to each there own, i prefer having a house with a yard a garage etc. and enjoy the regular up-keep however a lot of people love having a lock and leave home where there is very little upkeep, if you look hard enough you can find townhomes that have really nice outdoor areas for your child to enjoy.
2007-02-05 07:54:25 · answer #5 · answered by Scott K 2 · 0⤊ 0⤋
I could say I'm in the same situation,i live in the country but there is no closed yard that my 3yr old could play safe cause we live right in front of the road..very dangerous....so we are thinking of moving but not in the city cause once u own a house we can't go back to that,too stressing......so we will b finding another house n maybe b safer n have a yard n not always stress too much with him outside n also have enjoyable walks......
2007-02-05 08:06:10 · answer #6 · answered by elektra742004 1 · 0⤊ 0⤋