Is it a good idea to purchase a condo, or stick with SFH?

Amazon
treatize

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treatize
3d 20 Comments

Why are single family homes (SFH) so much more in demand than condos?

I guess it’s mainly because of kids?

There are some awesome condos available for way cheaper than SFH, and in convenient locations with bars, cafes, restaurants, etc., rather than remote (and sometimes boring) residential neighborhoods.

When the pandemic hit, condos were hit way harder than SFH in terms of losing value. But hopefully that’s all behind us?

Also, condos are easy to rent out afterwards.

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TOP 20 Comments
  • Dropbox
    GRnR67

    Go to company page Dropbox

    GRnR67
    I’d just get the condo if you think it’ll give better quality of life. Yard work is overrated
    3d 0
  • New
    asdfzxcvq

    New

    asdfzxcvq
    I bought a nice 4plex in a fun city. Live in one unit and rent the rest. No HOA, investment income long term, big backyard. People raise kids in these units and I’m planning on doing it too. Since it’s a HCOL city and neighborhood, the residents tend to be well-off and generally have their shit together / are respectful.
    3d 6
    • New
      cREm80

      New

      cREm80
      I’m in upstate NY, 1hr out from NYC. We did FHA on the lower income which is mine at 40k, the property was $216k so I put down 3100$, closing came up to 20k, school taxes are high because we wanted to attract families. Our mortgage is $1500, tenant #1 pays $1575, tenant #2 pays $1750 tenant #3 pays $1250. Each pays own electricity; I cover oil and trash.
      2d
    • New
      cREm80

      New

      cREm80
      Within my $1500 mortgage I pay $302 in escrow.
      2d
  • Rivian
    smenr

    Go to company page Rivian

    smenr
    Condos lose more value as compare to SFR. Also, don't buy with high HOA.
    3d 1
  • Apple
    take-it

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    take-it
    SFH are like LLC (less intervention) while condos are public (more people to worry about)
    3d 0
  • Watch the HOAs and remember they can spike as they age
    3d 2