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The Bottom line on Condos vs. Homes

By Lisa Von Domek

Real Estate Agent with Lisa Von Domek Team TX License #0552989

October 29, 2011 06:30 AM

Townhomes

Condos may be a perfect transition between renting an apartment to owning and maintaining a house and yard. For many Condo living is a preferred choice with fewer responsibilities, but there are more rules to adhere to. Expenses vary, and part of the financial consideration to review is the monthly condo fees. These are the expenses of maintaining the property that are shared by all of the owners in the community, and can run from as little as $100 per month to over $1,000 (or more). It is important to review all of the HOA documents for the fees, maintenance and reserves required for a unit within a community to be sure that you budget your overall monthly costs correctly on owning this type of home.

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Jon Zolsky, Daytona Beach, FL

Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL

Buy Daytona condos for heavenly good prices

LISA - I disagree with the very approach to condos as some substandard type of properties, only good as transition between rental apartments to homes. Homes are no better, no worse. It is simply different.

Condo living is in no way a transition. It is the life style. I have lived in a house, and I have been living in a condo for over 10 years, and it is not that eventually i will become wise enough for a home.

Yes, it is wise to check Condo-Owners Association docunments (not HOA) and know the fees, and there is way more than fees only, but owning a house is not without financial responsibilities, and if you really calculate the sots, homes come very close to condos and even a bit more expensive.

It is about a lifestyle, not really cost of maintaining.

In this sense the whole juxtaposition of condos vs. homes does not exist, It is what is better for the person. Some would find condos more for them (like me and so many others), and some would wnat what we are trying to avoid, like having a backyard, a lawn, and this could be found in a house.

Oct 29, 2011 06:40 AM

Lisa Von Domek

Lisa Von Domek Team - Dallas, TX

....Experience Isn't Expensive.... It's Priceless!

Good morning Jon,

My comments are no reflection whatsoever that a condo is a substandard alternative...the comment merely helps some that rent an apartment for convenience to understand that they don't have to give up that lifestyle to own. One of the reasons there are big booms in this type of home building is for the very fact that many love the "no maintenance" aspects of condos and townhomes. The "New Urbanism" lifestyle is driving many to re-consider what is a tradtional home. Please read the prior blog posted as a companion to this piece that goes into detail on choosing the right type of home for your needs...single family, condo or townhome.

Oct 29, 2011 06:45 AM

Lisa - I sure will. I did not know that there is another piece. Maybe it would be a good idea to put a link to the other piece in the blog, as when members land on a blog, they rarely know that it is based in part on some other posts.

thank you

Oct 29, 2011 02:36 PM

Dan Edward Phillips

Dan Edward Phillips - Eureka, CA

Realtor and Broker/Owner

Good Morning Lisa, we do not have an abundance of condos in this area. The few we have are, in most cases, great investments for many types of buyers. The biggest issue is always the HOA! Talking to the other owners will provide some insight into the HOA but buyers do need to be cautious!

Oct 30, 2011 01:04 AM

Good morning Dan,

Condo's are becoming more prevalent with downtown Dallas (finally) getting into the live and work mode...we have a wonderful selection of condo's for any price range and lifestyle. And yes, HOA's for all types of homes must be thoroughly reviewed...some rules will not work for some buyers. Have a Happy Halloween!

Oct 30, 2011 01:48 AM

The Bottom line on Condos vs. Homes

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Lisa Von Domek

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