What should i buy a condo in the suburbs or a house in the suburbs or (read details)?

Question

Or should i buy a house in chicago or should i buy a condo in chicago i have 2 kids and 2 pets a cat and a dog and i have a wife

Answer 1

Looks like you are trying to decide on a place and type of house.
It all depends on your priorities. First select the place whether the city or the suburb, then decide on a condo or a house. Some things to consider in your decision making for area are
- Your life style ( they would be totally diff in the two areas)
- Cost of living
- Pet friendliness
- Schools / socialising for kids (suburbs are better for this)

Some things to consider for condo vs. house
- Costs (including price, property taxes, maintenance and repairs, association fees)
- How handy are you. A homeowner usually spends time and money in maintaining a house
- Kids ( a house gives more space for kids to play). I know my son loves to run around and enjoys open space.
- Pets ( some condos may not allow pets)

No matter what you choose, there is nothing more satisfying than being a home owner.

Good Luck.
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Answer 2

There are pros AND cons of owning both.... what you have to do is weigh the options and then decide which sounds more beneficial to you..... Condo's are usually small, you have to deal with neighbors directly over, under or NEXT to you, your kids may NOT be well liked by your closest neighbors and they might complain...CONSTANTLY.... You have no real privacy in a condo AND, althought they are cheaper to BUY then a house MOST of the time, they are harder to SELL then a house. If you want to have family or friends over, parking becomes a problem in a condo---I've seen MANY a fight with residents of a particular condo getting angry that a neighbor's friends or family have taken up too many parking spots in the lot. Like I said, NOTHING is private. The GOOD points of condo living---lawn maintenance and drivewy plowing are not your responsibility,neither is any maintenance on the DWELLING (painting the outside, fixing a roof, etc)...... A House has it's drawbacks as well. All maintenance, lawn care, driveway plowing and House maintenance is TOTALLY your responsibility. But, you will have privacy, hopefully a yard for the kids to play in, maybe a garden for your wife. a driveway to park your car rather then a parking lot AND, the resale value on houses always seems to go UP from it's original purchase price.....

Answer 3

I do not know about Chicago realty but I live in Florida and both my grandmother and my parents used to live in condos. My parents had a horrible time trying to sell theirs (a 1bed 1bath) almost 30 years ago and are having a horrible time trying to sell my grandmothers (a 2bed 2bath) now. So it seems that condos are just an awful investment. My father has completely sworn them off. I would definitely go with the house. A house, in my opinion, is a better place to raise children anyway.

Answer 4

I grew up in the Chicago area and for my younger years, we lived in a townhouse near downtown Chicago, then when my sister and I were around school-age, we moved out to Aurora. My parents picked the area mostly because of the school we were going to go to, but also because we were still close to downtown, yet far enough away to enjoy life in suburbia. My parents had to pay two mortgages for quite some time when selling their townhouse, because it took much longer to sell than they anticipated. I much preferred the life living in a neighborhood than in the crowded streets of Chicago. While I love Chicago, it was difficult for us to ride our bikes and play outside (anywhere other than the tiny backyard) because the crime rate was much higher and there was a lot of street traffic. There were hardly any kids our age that lived near us in downtown, and at night, the city was so loud when we were trying to sleep. In Aurora, we had quiet streets to ride our bikes on, lots of friends in the neighborhood, and it was a very safe community.

You're going to pay for upkeep on your home whether you buy a house or a condo, because you own it. The only way you wouldn't have to pay for upkeep is if you rented, and that's just throwing money away to your landlord.

Hope this helps. Good luck!!

Answer 5

I think of it this way. In a condo, you have rules above local restrictions. You have very close neighbors. You will probably have an Association that tells you what you can/cannot do (and pay them for this). With kids and pets, I would go for a house. Good luck.

Answer 6

that's a no brainer'

condo's appreciate at a rate that is less than that of Single family residences (or in this market depreciate faster..)

there will almost certainly be a home owners association due...which effectively translates to being able to obtain 15k greater mortgage balance per 100.00 of association due... which means greater leverage...higher purchase price for the same money out the door each month...greater tax deduction (unlike the sunk cost of HOA dues...which generally increase at the whim of the assoc. god forbid major repairs...)

some but not all banks will charge higher rates for condo's than "houses" SFR...

in the eventuality that you wish to sell, on average they sit on the market longer...

space and privacy concerns...

take it from a former condo owner...buy a house.

Answer 7

i have ex inlaws that have lived condo life for 35 years and they are desperate for the outdoors and ended up buying a house in country just to satisfy it. i would say that you have to assess your happiness and that of your family's. if you work in the city you would have to commute from the suburbs but you would know that your wife, children and pets are happier having some space to breathe, less cramped schools, and the ability to accomplish simple daily life easier without being cramped. also the average cost of living for a house in the burbs (while it might offend some urbanites sensibilities of being cosmopolitan) is lower and your standard of life would be higher.

Answer 8

I did some short examine and curiously it particularly is from a valid linked press article. it is likewise obvious that the fee of the home is definitely above the median value for a house in Cincinnati. curiously as nicely that some parishioners have objected. it style of feels sparkling notwithstanding that the abode has no longer been given to the archbishop and is considered an asset of the archdiocese. The money used to purchase the abode have been freely given by capacity of parishioners, even however they could have been blind to how those ingredients have been to be spent. Why could parishioner anticipate to obtain kickbacks from salary attained with the aid of precise won intelligent investments? they're freely given charitable donations no longer "for earnings" investments of parishioners. One could be vulnerable to declare the money could have been utilized in a distinctive way, notwithstanding it would not look they have been intentionally misused. All this being mentioned notwithstanding is the church, the archbishop, or the diocese of Cincinnati immune from making adverse economic judgements, and does this in any know influence no remember if the church maintains to be the pillar and foundation of the actuality? It makes approximately as plenty experience as condemning Christianity because of the fact Christians are sinners EDIT; "is this an occasion of prudence !!" No this is an occasion of Charity. returned: whether the "hypocritical" excesses of the acquisition got here from willfull motive...Do you condemn Christianity because of the fact Christians are sinners?

Answer 9

A house in the suburbs. It would be good for your kids because there is probably a lot of other kids in the neighborhood too. A house would have more of a "home" feeling.

Answer 10

In some areas a Condo is your best bet,due to the high resale value in that area.A House can either bring happiness or sadness.You have to understand that when you go to re-sell,you have more rules to follow as to upkeep and making sure that you can sell it.(IE: termits,cracks,paint,etc.)But it really depends on what you and your wife have decided is best.Check out the market for both before purchasing,see which sells faster.I wish you and your family luck.