Pros and cons of buying a condo vs. a townhouse

[DaZahroJaam.]

state them. And be as bias as you please. Keep in mind that its not an investment plan.

[DaZahroJaam.]

o wow..so helpful. i am overwhelmed. someone pass me some kleenex. you people are literally useless.

[Karachi]

^lol

condo if you are single or newly married, townhouse or a house when you have kids

once I get married, I will probably move in to condo for 1-2 years, but once the kids are there, then probably move to a townhouse or house

Condos are nice, but all the news ones have little space inside, not to mention they can be really expensive depending on the location. The ones coming up in Mississauga downtown are pretty expensive

[Pakwatan]

Townhouse is a terrible idea, If you don't have people fixing your building constantly.

Pakistani people don't understand the concept of property value within the US. You get a town house and you are automatically giving into costs of fixing and maintenance. If you are honestly not going to settle in this place for the rest of your life, then don't even waste your time. It can ruin your financial situation.

[Karachi]

Townhouse is a terrible idea, If you don't have people fixing your building constantly.

Pakistani people don't understand the concept of property value within the US. You get a town house and you are automatically giving into costs of fixing and maintenance. If you are honestly not going to settle in this place for the rest of your life, then don't even waste your time. It can ruin your financial situation.

not sure what are you talking about, the town houses in canada are nice, also no one settles in a town house for the rest of their lives, usually 5-6 years at the most and then they move in to a house

[Pakwatan]

not sure what are you talking about, the town houses in canada are nice, also no one settles in a town house for the rest of their lives, usually 5-6 years at the most and then they move in to a house

I'm not from Canada, but in the US, if your townhouse starts breaking down, it's your obligation to fix these things. Whether it's the central air, water-pipes, or even termite infestations. Even if you plan on raising the property value, you will sink into negatives and lose money.

[DaZahroJaam.]

I'm not from Canada, but in the US, if your townhouse starts breaking down, it's your obligation to fix these things. Whether it's the central air, water-pipes, or even termite infestations. Even if you plan on raising the property value, you will sink into negatives and lose money.

appliances have to be replaced at least once every ten years if not because they are damaged, because you want to update. that is not as big of a hassle as one might anticipate. no one is as careless with appliances as i am and that is what i have found it to be like in the past. buying a house is too much of a hassle in the sense that you can't get something nice and good with less than 3 bedrooms and that is too much space for me. then there is keeping the yard, property taxes, installing security systems, searching for a good and clean neighborhood and whatnot.
i personally find the idea of a condo much appealing but my parents keep pushing me towards a house because of all the hidden expences and honestly no one that i know personally has or does live in one. i am an independant student in the sense that i have not picked up a student loan and don't plan on doing so either and quite frankly, i am not a millionaire yet. i don't want to land myself in a situation where my priority becomes worrying unnecessarily about a mortgage. i m trying my best not to be impulsive and just that is nerve wrecking for me.
but yeah, don't let worrying about maintanance and appliances keep you from owning property. if you are renting and seeing that happening alot, it's because those owners try their best not to replace any of those stuff until the last minute and tenants are careless when they know the repairment expenses don't come out of their own pocket. investing with the intention of selling it later can be extremely tricky/risky considering the inflassion right but if you plan on settling down, right now is the best time. and it's no where as bad as some make it seem. lots of people that i know, buy stuff with the warrenty and as soon as the warrenty is near it's expiry date, they renew the products and pull another 6 or 7 years out of it.

[Shamlawar Khurasani]

If you have the money cash then you should buy it. But if you dont have the money and you are thinking of taking a mortgage then you shouldnt. Because mortgages are haram.

[KGODB]

state them. And be as bias as you please. Keep in mind that its not an investment plan.

You are asking a specific question to a generalized audience

The real estate market can differ tremendously depending on where you live

Getting real estate advice on the UK market from a Pashtun In Qatar will do you no good

Are you based out of the US, Europe etc?

[KGODB]

Sorry, a quick glance of the answers insinuates you are from Canada

I live in the GTA, so I can only advise based on that market

First in comparing a townhouse with a condo, are we keeping all factors Constant? Meaning are we setting aside the same money for and assuming both are in the same area?

Generally speaking a townhouse will cost more. You need to do some research and consider the following factors:

1) how long do you intend to live in the home? Condos are usually 1-2 bedrooms (anything more should be avoided as their resale tends to be alot less), whereas a townhouse tends to be 2-3 bedrooms. If you are in your early 20s and this is your initial entry into the market, and you dont intend to have kids for 3-5 yrs, the condo would be a better option. You down payment would be less, less property tax, less headache in maintaining the property. If marriage/kids are on the horiZon, a townhouse maybe a better option

2) what have the prices looked like in the last 5 yrs? 10? How much percent are the homes rising each year? Compare the rates between townhouses and
Condos? Compare their downpayments and mortgages, crunch the numbers.

3) what are the maintainance fees for the condos and how do they compare to the projected fees you would have with a townhouse? What have been the maintaiance fees been like the last 5 years? How much are they projected to
Increase? Does the building have a well funded resoivoir?

4) condos tend to be in the city core while townhomes are in the subarbs. Compare and contrast the social lifestyles each represents

5) what are the amenities the condo has to offer vis a vis the services in the neighbourhood of the town home?

6) what is the supply like? In canada, condo starts (builds) have decreased in the GTA and Vancouver markets. If there is in fact a coming correction in the market, condos will be the first to feel the effect

7) i know you mentioned this is not an investment but that still doesnt mean u shouldnt consider it as a factor. Your life may be great in 5 years and you may be in a position to buy a new home. Consider the rentability of the condo or town home you are seeking to purchase

8) how were you raised? I ask this because i grew up in an apartment and so i was and still am inclined towards apartment style living. However this may have had the opposite effect, you grew up stifled in that environment and long for a house of your own

In conclusion, without having access to more specific information, (budget, geographic location, personal preferences, lifestyle etc), one cannot make an outright suggestion to you. I am more inclined to a townhome in principle but i would suggest a thorough consideration of all factors

Home owneship is a great step forward in life and with it comes advantages and disadvantages, rights and responsibilities. It is the biggest purchase of your life so please do considerable research

[کیش]

Two part Q//A

1) are you looking for a place for you and your husband (if your married)

If.that's the case a condo apmt will do

2) are you looking for a place to move with your siblings?

A town house will do

[randolph85]

my dad lives in afg now so i am living in his townhouse until he wants to come back. just today i had to move back to my moms for the week because there is a leak at the place and the homeowners association is slow as hell to get someone to look at the pipes. the afghan guy we rented it out to before and gave a good ass deal to because he was a family friend ended up trashing the place and causing thousands in damage.

i have always thought town houses and condos were pretty much the same.

pros and cons differ from city to city.

[DaZahroJaam.]

Sorry, a quick glance of the answers insinuates you are from Canada

I live in the GTA, so I can only advise based on that market

First in comparing a townhouse with a condo, are we keeping all factors Constant? Meaning are we setting aside the same money for and assuming both are in the same area? yes but if i don't have to put that amount down then that's money i could be doing whole lot of other fun things with.

Generally speaking a townhouse will cost more. You need to do some research and consider the following factors:

1) how long do you intend to live in the home? Condos are usually 1-2 bedrooms (anything more should be avoided as their resale tends to be alot less), whereas a townhouse tends to be 2-3 bedrooms. If you are in your early 20s and this is your initial entry into the market, and you dont intend to have kids for 3-5 yrs, the condo would be a better option. You down payment would be less, less property tax, less headache in maintaining the property. If marriage/kids are on the horiZon, a townhouse maybe a better option it will be me and maybe of or two other people at the most but once my studies are over, i don't necessarily plan on staying in this city permanently. when and if that happens, i can always rent it out..

2) what have the prices looked like in the last 5 yrs? 10? How much percent are the homes rising each year? Compare the rates between townhouses and
Condos? Compare their downpayments and mortgages, crunch the numbers. 20 grands can get me a 2 bedroom condo. 20 grands can also get me a bi level house that sums up to 5 bedrooms and a yard too but the pay off time will be longer.

3) what are the maintainance fees for the condos and how do they compare to the projected fees you would have with a townhouse? What have been the maintaiance fees been like the last 5 years? How much are they projected to
Increase? Does the building have a well funded resoivoir? not a factor because i have been and will continue being very busy.

4) condos tend to be in the city core while townhomes are in the subarbs. Compare and contrast the social lifestyles each represents actually they have been building some new ones that are not that far from the suburbs where my parents live.

5) what are the amenities the condo has to offer vis a vis the services in the neighbourhood of the town home? merey ko kia pata, bhai?? that is why i am asking here. i don't know anyone living in apartments.

6) what is the supply like? In canada, condo starts (builds) have decreased in the GTA and Vancouver markets. If there is in fact a coming correction in the market, condos will be the first to feel the effect i have been reading about that and i am not quite sure as to how that will affect me..

7) i know you mentioned this is not an investment but that still doesnt mean u shouldnt consider it as a factor. Your life may be great in 5 years and you may be in a position to buy a new home. Consider the rentability of the condo or town home you are seeking to purchase
i don't think that will be an issue as this city is pretty fast paced. if not for job opportunities, people often shift here for educational purposes.

8) how were you raised? I ask this because i grew up in an apartment and so i was and still am inclined towards apartment style living. However this may have had the opposite effect, you grew up stifled in that environment and long for a house of your own large house with lots of space. but honestly, i don't roam around much and i don't think it will affect me personally. i am able to adapt very easily.

In conclusion, without having access to more specific information, (budget, geographic location, personal preferences, lifestyle etc), one cannot make an outright suggestion to you. I am more inclined to a townhome in principle but i would suggest a thorough consideration of all factors

Home owneship is a great step forward in life and with it comes advantages and disadvantages, rights and responsibilities. It is the biggest purchase of your life so please do considerable research yeah.

If you have the money cash then you should buy it. But if you dont have the money and you are thinking of taking a mortgage then you shouldnt. Because mortgages are haram.

i am tempted to say i like haram things but i am not going to say it. instead i will say this. i think by now it's pretty clear that i have blown my chances of entering the gates of heaven. and of that, i am not ashamed.

the afghan guy we rented it out to before and gave a good ass deal to because he was a family friend ended up trashing the place and causing thousands in damage.

i have always thought town houses and condos were pretty much the same.

pros and cons differ from city to city.

been there, done that. i know it's not ice of me to generalize but why the hell would you do business with a fellow afghan and a family friend too. have you not ever heard of dosti and doori?? friendly relationships can be maintained well with people of our kind from the distance. these days people check criminal backgrounds and ask for paystabs before renting out their house to people.
i think i have been confusing normal houses with the term "townhouse".

qais, shut up.

[Admin Khan]

I would assume a condo would be a better options since you'd be able to resolve issues much quicker(in terms of issues with heat, water, since they usually have contracting agencies)whereas with a town house, it is much more inconvenient.

[کیش]

Qais, shut up.
[/B][/FONT][/COLOR]

Why so rude? I answered your question.