Condo/Townhouse vs. House

We debated this issue too. We bought a co-op this year and plan to stay 5 years. We didn't want the responsibility of a house yet...yard and all the maintenance. We also couldnt afford a house in the area we want to live...not for another few years.

We know we won't make as much money on it as if it were a house, however, I think a lot depends on location (hot areas). If its a desirable area....and there is not a lot for sale...people will pay to get what they want.

We bought in Great Neck in a pre war building...there are only 4 of these in the area and they are very desirable. Whenever one goes up for sale in my building...usually its not on the market for more than a week. There are usually only a handful of apts. for sale at any given time...so typically it's not hard to unload one of these for a decent profit.

Do the research...and watch the market....I personally don't think you can go wrong!

We bought a condo because all of the houses we were looking at in our price range were all fixer-upers. My dh is not handy enough and we don't really know people who could have helped us.

We hope to start our family in our apt. All plans are made with the consideration that our office will be a babys room (hopefully) and the new desk will end up in the living room.

PS. buying a condo/townhouse/co-op is still owning your own home!!!

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Posted by Summerbride04

Out of curiosity, for those of you that bought condos/co-ops/townhouses, are you planning on starting a family there are you holding off on children till you own your own home?

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We are waiting for a house...

We will most likely start a family in our condo..We bought a 2 bedroom just in case..

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Posted by Summerbride04

Out of curiosity, for those of you that bought condos/co-ops/townhouses, are you planning on starting a family there are you holding off on children till you own your own home?

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I do consider our condo our own home, but since it is a 1 bedroom we do plan on moving into a house before TTC. If it was a 2 or 3 bedroom townhouse, I would have no problem starting a family there--many of the townhouses we looked at were nicer than many older homes that need a great deal of renovation.

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Posted by JacnRob729

does anyone have any info on townhouses/condos for sale?? thanks

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We bought one in NJ..fm if you are interested.

DH & I just started seriously looking into condo/townhouses.
Some nice & not so nice
For the ones who are in one, would you mind telling what area & development you are in or suggest ones to look at. We are looking in Suffolk. TIA

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Posted by BermudaBride

DH & I just started seriously looking into condo/townhouses.
Some nice & not so nice
For the ones who are in one, would you mind telling what area & development you are in or suggest ones to look at. We are looking in Suffolk. TIA

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We're in Ronkonkoma, and looked at almost all of the complexes under $400,000 in mid-Suffolk (nothing too far out east). FM me for details.

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Posted by BermudaBride

DH & I just started seriously looking into condo/townhouses.
Some nice & not so nice
For the ones who are in one, would you mind telling what area & development you are in or suggest ones to look at. We are looking in Suffolk. TIA

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I don't know what your price range is but FI and I were looking at condos for awhile and we loved the Autumn Ridge and Timber Ridge complexes. They were built somewhat recently (i think in the late 80's early 90's). They're in Holbrook.

We just looked at some in woodgate village yesterday. We didn't get the chance to look at the others. Woodgate was OK, a bit small.
I think Timber ridge was right next to it. They looked nicer & bigger at least on the outside.
What did you think of them? Is it worth the money?

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Posted by BermudaBride

We just looked at some in woodgate village yesterday. We didn't get the chance to look at the others. Woodgate was OK, a bit small.
I think Timber ridge was right next to it. They looked nicer & bigger at least on the outside.
What did you think of them? Is it worth the money?

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If they are the ones I am thinking of, we didn't think they were worth the money. If you are thinking of having kids, there are similarly-priced complexes in Setauket and Port Jeff., which are in what I believe are better school districts and areas from what I have heard...

JMO--I would buy a house instead of spending over $500,000 on a condo--living in a condo, there is noise from neighbors on sides, even if it is a 2 or 3 story townhome...

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Posted by BermudaBride

We just looked at some in woodgate village yesterday. We didn't get the chance to look at the others. Woodgate was OK, a bit small.
I think Timber ridge was right next to it. They looked nicer & bigger at least on the outside.
What did you think of them? Is it worth the money?

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I think we looked at Woodgate (if it's the one I'm thinking of) and we didn't like it at all. I'd rather spend another $50,000 and get s/t much nicer and larger.

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Posted by BermudaBride

JMO--I would buy a house instead of spending over $500,000 on a condo--living in a condo, there is noise from neighbors on sides, even if it is a 2 or 3 story townhome...

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In my experience there is virtually no noise from neighbors. Maybe it is the way my develop was built. Actually, my mother comes here and says how quiet it is! Her block is noisy and the neighors are always out making noise. She says she'd go crazy here it is so quiet. Developments differ though! Also, we don't back up a train, roadway, stores, etc. though the development is near stores and near a road.

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Posted by BermudaBride

What about a co-op? Are they worse than owning a condo? I ask because they look cheaper.

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With a co-op you own shares in the corporation. I enjoy living in mine and I felt it was better then renting because when the time comes to sell it I will have a good downpayment for a house. Co-op's were the only thing affordable for DH and I when we were looking.

There is no noise between the walls here- whatever they used when builiding, I forgot. and it is very quiet overall even though we haven't been here in the summer yet. seem to be alot of retired folks here. I love my townhouse . I'm out east- Manorville.