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re: Thoughts on Townhomes?
Posted on 2/9/17 at 11:18 am to LouisianaLady
Posted on 2/9/17 at 11:18 am to LouisianaLady
quote:
I always wondered where "condo" falls in the mix. What makes something a condo, but not an apartment or townhome?
Ownership. In a condo building each unit is individually owned, and there's typically an HOA. Apartment buildings are owned by a company and rented out
0
Posted on 2/9/17 at 11:31 am to LouisianaLady
quote:
I always wondered where "condo" falls in the mix. What makes something a condo, but not an apartment or townhome?
Apartments are all completely owned by the apartment complex and leased out.
Townhouses and condo units are individually owned.
For condos, only the unit itself is individually owned. Everything else (land and all common areas and exterior of building is owned by condo association). For condos, the HOA is responsible for maintenance on building exteriors, common areas, and landscaping. You'll always have mandatory condo association fees that cover those costs and cover HOA's insurance for exteriors and common areas.
On townhouses, you own the exterior of your unit and the land its on. So you're responsible for your own upkeep of those things, not the HOA. You still may or may not have an HOA fee depending on the neighborhood.
Posted on 2/9/17 at 11:40 am to Forkbeard3777
For townhouses and condos, I think it's really location dependent. For somewhere like Chicago, I would think it'd be a fine choice.
In Atlanta, where you can still occasionally build SFHs across the street from some intown condo/townhome developments, there is little to retain value. That's changing, but still a present issue. Probably same sort of transition going on in Nashville, and I imagine it's fully transitioned at this point for Austin.
In other parts of the South I'd only do it for a steep discount vs SFH.
Of course, I think most people, with the possible exception of travelers or elderly who don't want upkeep issues, would prefer a detached home if all other things were equal.
In Atlanta, where you can still occasionally build SFHs across the street from some intown condo/townhome developments, there is little to retain value. That's changing, but still a present issue. Probably same sort of transition going on in Nashville, and I imagine it's fully transitioned at this point for Austin.
In other parts of the South I'd only do it for a steep discount vs SFH.
Of course, I think most people, with the possible exception of travelers or elderly who don't want upkeep issues, would prefer a detached home if all other things were equal.
Posted on 2/9/17 at 12:03 pm to TheCaterpillar
quote:
Are you in Nashville? I have 3 separate friends that have neighbors that are strictly Airbnb rentals, which in Nashville, means 75% bachelorette parties.
A couple of them are single and actually think its awesome, the other is married with kids and frickING HATES IT.
Yeah, my buddy is married and has an 18 month old baby.
The funniest story was when his wife and kid went out of town to visit her in-laws. I asked him if he wanted to grab a beer at Hop Stop and he said:
"Man, I've had a long week at work, the wife and kid are out of town and I'm really looking forward to just ordering a pizza, having some drinks, and catching up on Game of Thrones."
As I was telling him that I completely understand and that it sounded like a great evening, he pulled into his driveway, he said, "frick me....there's a small army of loud, obnoxious drunk girls wearing pink cowboy hats and boas in the next unit."
He sounded so defeated and discouraged that I actually felt bad laughing. That's gotta be absolutely miserable.
This post was edited on 2/9/17 at 12:05 pm
Posted on 2/9/17 at 12:11 pm to SG_Geaux
quote:
The only time I ever hear the girls next door is when they leave or come home and their 2 dogs bark.
Screw that, sharing a wall with a neighbor would suck!
Posted on 2/9/17 at 12:24 pm to Forkbeard3777
I live in one in Athens. Only issue is parking and my a-hole old neighbors (legit grandparents) who slam all their doors.
Posted on 2/9/17 at 12:29 pm to Pettifogger
quote:
In other parts of the South I'd only do it for a steep discount vs SFH.
In Dallas proper, there are townhomes going up everywhere. SFH are being scraped to build TH....a scraped SFH lot will have 4 to 6 THs There really isnt a discount compared to SFH as the THs atart at $450k. The problem is, there aren't enough SFH to satisfy demand so newbies are forced to rent or buy THs.
Posted on 2/9/17 at 12:43 pm to Forkbeard3777
quote:
Any thoughts?
It really depends on how sound proof the walls are and or how well you get along with neighbors. My first house was a townhome and the walls were really poorly insulated. It was basically like an apartment. I lucked out and had really cool neighbors on both sides and we all agreed to try to stay quiet after 11:00 on week nights. If they would've been jackasses it could have been a nightmare cause I cant sleep with noise.
My buddy owned a better insulated townhome and you could not here shite next door so I would find a way to test the noise insulation if possible.
Posted on 2/9/17 at 12:47 pm to Forkbeard3777
Do an end unit. See them when people are home in good weather.
Posted on 2/9/17 at 12:51 pm to Forkbeard3777
Old Town Ale House ftw.
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