Option 1:
Condo on 2nd floor, $310,000.
2 bedroom, 2 bath, 2 covered parking spaces.
830 sq ft. No lot. Sharing pool facilities with other 36 units.
Located in an just okay neighborhood.
HOA fees $200/month.
Option 2:
An attached single family house, $302,000.
1 bedroom, 1bath, 1 attached covered garage.
480 sq ft (small) plus a covered patio (120 sq ft)
Lot size 1400 sq ft.
Located in a good neighborhood.
HOA fees $40/month.
2007-03-01 04:37:33 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Both properties located in greater Los Angeles are.
2007-03-01 08:08:00 · update #1
Neither. I wish I knew which part of the country you're in.
Walk away from Option 2. Do not look back.
It sounds "functionally obsolete" and at that price and lot size, not a "flipper".
Option 1 is not uncommon as to price and size in some parts of the country. Consider resale value. Consider HOA restrictions. Then,
Walk away.
Keep looking. What are you looking for in a purchase?
Need more info. for better advice.
2007-03-01 05:41:33 · answer #1 · answered by Bob 3 · 0⤊ 0⤋
Hmm thats a tough one---
Normally I would say option 2 is a better investment because normally homes with lots sell better traditionally..
However.. homes with 2 bathrooms are becoming a much better investments these days because alot of people really want that more then they used. Also a 2 car garage is a nice touch as well.
Also, option 2 is really small and could have a touh time being resold, where as option 1 will always find a buyer.
My choice-- option 1.
2007-03-01 04:52:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Option 1.
2007-03-01 04:45:27 · answer #3 · answered by Robert W 4 · 0⤊ 0⤋
option 1
2007-03-01 04:41:51 · answer #4 · answered by ? 1 · 0⤊ 0⤋
where are these places located? You are talking about less than 1000 square feet costing more than $300,000.00 - Get outta town!!! But if I did choose, it would probably be option 1 because of the square footage. 480 square feet is about the size of my bathroom!! Maybe you should move to the midwest where that kind of $$ can get you 3,000 sq. ft or more!
2007-03-01 05:01:08 · answer #5 · answered by wanninonni 6 · 0⤊ 1⤋
go with option 2
2007-03-01 04:41:00 · answer #6 · answered by Sweet Pea 5 · 0⤊ 0⤋
Neither. Mainly because of the HOA.
Do you have or are planning to have kids? Do you have or are planning to have pets?
Read up on the HOA information of both before you commit to anything.
2007-03-01 04:45:22 · answer #7 · answered by Terri 7 · 0⤊ 0⤋