For those that live in Condo/Townhouse Communities

BermudaBride Posted: Dec 09, 2004 07:42 PM

For those that live in Condo/Townhouse Communities

Dh & I are seriously thinking about moving into one. I like the idea of the pool & etc. especially w/ kids.
How do I go about finding ones that are in a good school district? Do I need to go to RE agency or can I search myself. We would be ready to buy by Jan 2006 when our lease is up. I've seen some on realtor.com but how do I know if they are for all or just 55 & up.
I feel if the RE agent knows were not buying just yet they won't bother w/ us.
How did you find out about yours & do you mind sharing where you live.
TIA & Sorry so long.

LIBrideinBWI Posted: Dec 10, 2004 09:37 AM

Re: For those that live in Condo/Townhouse Communities

Honestly, don't waste yours or a RE time looking at specific homes if you aren't ready/don't plan on buying for over a year. Chances are you'll wind up finding something, falling in love and either signing your life away or getting your heart broken because really aren't ready to buy yet.
For now, I would just do research on different areas, school districts - figure out exactly what is right for you. If you haven't done so yet, maybe open a joint money market account that will be ONLY for the down payment/closing costs. FI and I put any 'found' money into that account (money received that doesn't come from your paycheck, gifts, refunds, etc.). We also had a certain amount payroll deducted every month. Then, set a date for when you'll be financially ready to make an offer. Start looking for homes about 4-6 months before that date. The market down here in Maryland has been VERY hot in that homes will go on the market and be contracted by the next morning. I had my heart broken a few times before we finally got an offer accepted.

Good Luck to you - you're being smart by thinking ahead and you'll be in great shape by January 2006 (especially if prices start coming down).
Amy

nov04LIbride Posted: Dec 10, 2004 11:25 AM

Re: For those that live in Condo/Townhouse Communities

We found our complex (in Connetquot School District) when visiting a friend having a party in the complex. We told several different realtors we wanted in that complex, and they called as soon as condos came in. They go fast, and honestly they probably won't waste their time showing you if you aren't buying for over a year. Be warned--a small house could cost as much as one of these condos (and ours is not new either, and 1 story). The 2 bedrooms are now going for $300,000 or so, and 2 bedrooms are the most in our complex. I do like it though, and it is nice having the maintenance taken care of. We found complexes on MLSLI and then drove around to see what the area was like. Most that are older communities state it under the description on MLSLI. Look long enough and you will know ALL the complexes.

myrockette Posted: Dec 10, 2004 02:10 PM

Re: For those that live in Condo/Townhouse Communities

I'm out in Manorville and we're in a townhouse. Mainly, we were just very familiar with the town but I think we originally saw it on realtor.com. They do seem to go fast. Here the 2 bedrooms are in the lower $300's and the biggest one is selling for low $400's. The clubhouse is nice!(pools,tennis,bball,playground) Our fees are only $190/month Some others in the area are much more than that.
good luck with your search

Sasha96 Posted: Dec 10, 2004 05:16 PM

Re: For those that live in Condo/Townhouse Communities

We're in a townhouse too. We saw some listings in the papers but other developments we just knew of. Find a development you want and then look to buy. They usually go fast. Sometimes people will leave a note in everyone's door informing the owner that if they are interested in selling they should contact you. We get that from time to time.

I am in Nassau and 2BRs sell for about $400K+ in good condition and the 1BR are about $350K. They cost the same as a small home. I love having the amenities and it was a great way for us to build equity. If we bought a home for the price we bought our townhouse we would've had to invest so much money to fix it up. We couldn't afford to do that and buy a home. The townhouse only needed cosmetic/updating.