House or condo?

activities1

Has anyone owned a house and then bought a condo?
Any regrets, downfalls??

gamerbabe14

I've bought two condos. Love them both. HOAs suck though so find low HOA fees.

km8907

Love my condo. HOA fees suck, but mine cover the water bill, garbage, pool, gym, gate, grounds etc. IMO, any place where I don't have to mow the lawn or worry about how much water I'm using is worth it.

gophermatt

The second my youngest moves out, I’m selling the lawn mower, snowblower, raking supplies, pool care equipment, and taking back the 3-4 hours each week using all that stuff. Going to be a great day!

Condo or townhome if you can’t guess my opinion.

clisttix

Never owned home, but Im on Board of a CA condo HOA. Know what you're getting into.

Realtors will tell you condos are great, they do so much for you. Thats often not true.

There are tons of small, underfunded HOAs out there. We're too small for a management company... so self managed, do nothing for owners. Condo attorney specialist encouraging HOAs to change documents due to financial pressure. Owners basically maintain their own insides AND anything exclusive to them. That means if their garage door breaks - they fix it. Their water line or sewer has issues, owner fixes.

For $500/month, owners here get insurance on the structure, gardening, pool, water & electric for grounds & pool... and nothing else. Owners pay their own water, power, trash, cable, etc.

We just did a $5K assessment to pay for repairs.... and its only tip of iceberg.

Some HOAs are great... bigger may be better. All those documents they give you... that nobody reads... read them before buying a condo. Read the rules. Check the reserves to see how well funded. Read governing docs to see restrictions and responsibilities.

DreamAmalfi

I've owned 3 houses and 3 condos..both are good and with pros and cons. Am currently in a house and prefer a house.

activities1

Thanks everyone! Currently in a house and looking at a condo. It includes water garbage and sewer as well as the amenities of a clubhouse with exercise room, pool and spa etc.
just curious about how it all works and if there’s a shock going to condo and if it’s just a glorified apartment.

Motorsheen

House - without an HOA


I don't need nobody telling me I can't have no yard car.

beagletracks

Motorsheen wrote: »

House - without an HOA


I don't need nobody telling me I can't have no yard car.

Darn tootin’

TheRoadDog

I have never owned a condo. Doubt I could give up my yard.

cwolfman13

House...

I live in a rural suburb of Albuquerque and prefer that to being in the city. It's very quiet, little to no crime, a great small village community that helps each other, and I have an acre of land that I wouldn't want to give up. Plus, I don't need anyone telling me I can't park my car on the street or keep my camper on property or that I can't have a bbq grill, etc.

To boot, I don't know what I would do with my two kids in a condo...they'd have nowhere to play.

AmberSpamber

We live in a townhouse now, and I cannot wait to get into a house. I want my own yard, my own privacy and would love to not have to worry about how loud my music is, or the damn dogs that live 20 feet from my bedroom window. I mostly want the yard though. I love growing my own food, and have very limited space where I am to do so.

Lounmoun

With a condo aren't you really paying for all the amenities, utilities and maintenance through a higher cost or HOA fees?

When I visited a condo it seemed like it might be great for a busy couple without kids and pets, single people, seniors but maybe less great for a family situation. I don't know what the cost comparison of that place was to a similar sized house in that area.

activities1

Cost is abput 50k less than a house. Hoa includes gRbage sewer and water along with all the clubhouse amenities and playground. Comes with a barbecue as well as 2 patios.

Just looking to see who has lived in both and what they prefer.

MyNameIsDan2018

This is going to be a very regional question

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seltzermint555

MyNameIsDan2018 wrote: »

This is going to be a very regional question

I agree. In my area there is not really a condo culture whatsoever. People own houses or rent apartments, generally speaking.

concordancia

Condo.

HOA fees are better than yard work.

My parents have a condo in Podunk USA, but I did grow up thinking that they were a big city thing.

Actually, I live on a boat now, which is kind of like a condo with outrageous HOA fees.

cwolfman13

MyNameIsDan2018 wrote: »

This is going to be a very regional question

Probably very true. The only condos you'll find here are smack in the middle of downtown and I personally can't imagine wanting to live downtown...but I'm more of an outside, rural kinda guy so maybe it's just me.

They also aren't a particularly good investment here either as there really isn't a condo culture...so they most often take a long time to sell and I've never seen much in the way equity.

I just sold my old house in December and got out $60K more that what we paid for it 10 years ago and I sold it in two weeks.

MY BIL and SIL live in Connecticut and they're getting ready to move into a 3,000 sq ft condo there which I'm sure will be very nice and a much better investment than doing so in NM.

go_cubs

House I miss having a yard and space