I know ultimately everyone would like to have a huge house w/ your own space and all that. However, I am a single guy who doesn't really need a lot of space and have a limited income. I was wondering what were the pros and cons of buying either a house or a townhome. Which do you prefer???
Buying a house or a flat/condo/townhome for first time??
- Thread starter bripmon
- Start date
Barbie said:
Definitely agree w/ the garden in the back. I am somewhat handy when it comes to building patios and decks, so I was leaning towards a house in that aspect. However, there are a lot of problems that you can run into when buying an older, smaller house. I have looked at a few houses that have had structural issues, plumbing problems, and mold inside the walls. Those can lead to nightmares financially. I am not sure how it is out in Europe, but when you purchase a Townhome, you have to pay an HOA (Home Owner's Association) monthly fee. Those can get pretty pricey too.
Maybe I will just rent forever...
, but I do have to make some hard decisions on this!!!!
Morbyd
Moderator
Living by yourself, you'd probably be better off with a townhouse. Less yard to upkeep and neighbors closeby to keep an eye on things when you're not home. You can always sell and trade up to a single-family home later.
The only downside would be if you plan on throwing big parties. You've got to be a bit more careful with the noise if you're attached to the neighbors.
Generally, with townhouses, it's best to get an end-unit if you can (i.e. at the end of the row).
I'm not sure about the housing market in Denver but I know in the Tampa, FL and Washington, DC areas it's very overheated right now.
Interest rates are inching up in the US, so on the one hand you might want to lock in a mortgage soon. On the other hand higher rates might cool down the market reducing housing prices by lowering demand. As it stands, in those two markets I mentioned above, it's just starting to turn back into a buyers market but not quite there yet.
The only downside would be if you plan on throwing big parties. You've got to be a bit more careful with the noise if you're attached to the neighbors.
Generally, with townhouses, it's best to get an end-unit if you can (i.e. at the end of the row).
I'm not sure about the housing market in Denver but I know in the Tampa, FL and Washington, DC areas it's very overheated right now.
Interest rates are inching up in the US, so on the one hand you might want to lock in a mortgage soon. On the other hand higher rates might cool down the market reducing housing prices by lowering demand. As it stands, in those two markets I mentioned above, it's just starting to turn back into a buyers market but not quite there yet.
LagunaBeachCA
New Member
What's the property tax in CO? My 2 cents is that between a townhouse and a condo, provided the location is great in both cases, is to go for a townhouse. You cannot go wrong with having some land.
CO is still very cheap. At least it is no where near SoCal where only 18% of the people making the median salary can afford a their own housing
:x .
Where abouts are you thinking of buying? I have been to Niwot and Boulder. However, I would not live in Denver or Boulder as both places are not Second Amendment friendly. Both are great places though. I have heard that CO Springs is also a great place to live.
CO is still very cheap. At least it is no where near SoCal where only 18% of the people making the median salary can afford a their own housing
:x . Where abouts are you thinking of buying? I have been to Niwot and Boulder. However, I would not live in Denver or Boulder as both places are not Second Amendment friendly. Both are great places though. I have heard that CO Springs is also a great place to live.
