We have been married about 2 years now, and we are currently renting. We are trying to find a place that we can afford, in a nice neighborhood, where we possibly can raise children one day and possibly not have to move. So I wanted to know what the pros and cons are to owning both house or town house to help us decide which one we should get. I like the idea of having a screened in pool in my back yard with a sliding glass door, and the privacy with a house. On a town house, i like the fact that we aren't responsible for the outside, but then again, i feel like you're still paying for it to be taken care of and you don't even really own it, just the inside of the walls. where with a house i honestly don't mind doing the outside work, or paying someone but at least you own it? confused. help me out. yes, it is our first home and we both have good jobs and credit.
2007-02-23 01:07:03 · 6 answers · asked by Lovely 4 in Business & Finance ➔ Renting & Real Estate
A condo or townhouse can be a great starter home. It will let you get into something more afforable and not have to worry about all of the things that you do with a single family home. All you do is move in and bring your furniture. With a single family home, you do have more space, a yard of your own, and you can do what you wish with the property.. but there also comes alot more work and financial commitmet.
Remember, if you don't plan on staying there forever, make sure you buy a place in a good area where you won't have trouble selling. If you can't afford a single family home in a good area, look into condo's or townhouses.. Build up some equity and then look for a single family.
My wife and I started out in a condo. We stayed in it for 2 years and had built up enough equity to put down a 20% deposit on a single family home without putting up any of our own money. We literally took the check from the sale of our condo and went to the closing on our new home and signed it over.
2007-02-23 01:15:29 · answer #1 · answered by Louis G 6 · 0⤊ 0⤋
Alot will depend on how much free time you have, or how much free time you want to spend on the upkeep of your house. A town house is very easy to take care and requires little work from the owners. Whereas a detached house can be an enormous amount of work. So you should base of alot of it on that. Also, determine how long you plan to spend in that place.. a townhouse is better for short term stays.
However there are still more benefits from a regular house because you can control it however you want , and dont pay association fees towards the upkeep of things you may not even use or need fixed.
2007-02-23 09:31:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
get your own house, it is obviously what you want to do and if you are willing to do any work you need to then its the only logical choice. and if you get your own house and you decide its not what you want to raise children in, if you are at a good financial point in your life you may be able to keep it and rent it out for extra income. getting into real estate is always a smart choice, so go for your own house, that you own all aspects of, including the outside.
2007-02-23 09:12:00 · answer #3 · answered by LivExLaugHxLovE 1 · 0⤊ 0⤋
u must get ur own house first b4 u own another house.in fact one house should be enough if u decorate it nicely within ur budget,no point to buy another house n leave it empty or rent it out.u can save ur extra money in ur bank or do some investment the better.
2007-02-23 09:18:36 · answer #4 · answered by robert KS LEE. 6 · 0⤊ 0⤋
if you can afford a single family house..then thats the best pick. as you know town houses can not be changed on the outside and they have HOA fees and not to mention really close neighbors!
2007-02-23 09:11:15 · answer #5 · answered by ♥Chastons Wifey♥ 5 · 0⤊ 0⤋
Definitely get the house. In a town house you have no control.
2007-02-23 09:10:26 · answer #6 · answered by Anonymous · 0⤊ 0⤋