The 3 rules of real estate are: Location, Location, Location. Get the best location you can afford be it condo, TH or SF.

Also think life style. When your young you may not want to spend all day saturday doing yard work in a SF. Heck you may not want to do any yard work, then you want a condo. But if you like to have loud all night parties Condos and THs aren't for you and the HOA will be slapping you with big fines.

Any developement with a HOA (Home Owners Association) can be a real PITA. They tend to be highly political and petty (you don't have the correct shade of beige for your curtains. you have to change them.) .

I would establish a relationship (business) with a real estate agent who acts as a BUYERS BROKER and start looking around. A regular real estate agent is only legally bound to look out for the sellers interests (many do look out for the buyer but aren't bound to). BBs are legally bound to look out for the buyers interests. This may vary by locallity.

Start working with a bank or credit union NOW on financing. If you can get preapproved to $XXX,XXX it will certainly help negotiations. Don't forget closing costs. These can be significant (8% in our case for taxes and recordation fees).

 

Some of the advantages of owning a condo:
NO EXTERIOR MAINTENANCE, NO CUTTING GRASS NO SHOVELING SNOW. Covered by association fees. (check what they are)
Some have attached garages, usually under the unit. The economies of scale usually make them less expensive than similar sized single family homes.
With a single family home you bear all the costs of exterior maintenance. You have to cut the grass, pick up the trash that blows into your yard from who knows where. Some subdivisions have association fees (just for living there and you get nothing for it). I pay association fees based on the number of lots and then I pay someone $100 a month to mow the grass. I have to shovel the snow in my driveway. (well use the snowblower anyway)

 

I'm all for the single home. I've lived in townhouses and apartments and studios.

Nothing like the privacy and convenience of owning a single family dewlling.


Mello Roos and HOA fees are pretty bad, but they are worth it in some cases ie: master planned communities and home security.

I pay my gardener 12 bucks a month to mow my lawn every two weeks.

He is only 11 after all. :fawk:

wned:

 

I probably would not rent too much hassle and shizzle.

I would live in it for 2-5 years then sell if the market is right.

but I plan on buying a second home or a TH because I'll run out of drive way space in 1year :exnbp:

parking a Lotus Elise on the drive way is :exnbp: :devil:

 

lol!!!

That's the best reason to buy a TH!!!

I figure we'll refi in a few years and buy a run down spot that I can renovate and rent out.

then refi that place and buy another.

it'll go on and on and on..

 

until jay and I won the whole world!!!


brahhhh braahhhh bahhhhhh ahhhhh [/dr.evil]

 

House = good investment for the future

Townhouse/Condo = crap shoot in the dark with a guy named Swifty.

Get a house future potential is much higher.

 

hahahha.. I was thinking..

I;m pretty sure I'm going to buy brazil in about 20 years.

I'd refi all my property and go halfsies with rick on the cost.

:thumbup:

 

done! :bigok:

my friend went to Brazil last year during carnival...

women there shaply :naughty: to say the least and very friendly

the hot ones can pay rent through alternate means :devil:

 

"work it hunny!!! "