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3 years, 4 months ago

Which would be a better investment? Condominium or house?

I am looking to invest in some real estate within the next year or two. I'm fairly young and don't have a ton of a money so I'm looking toward the low end of the market.

What would be the better investment for me? I could purchase an older home or a nicer condominum for the same price. Any advice from those with experience in this field?
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bbrookin | 3 years, 4 months ago
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There's still too much information outstanding. For instance, much depends on the bromide "location, location, location." A well-priced condo in an area where housing is holding its value well may be a better investment than a 5 bedroom home in a severely declining area (see Patterson, CA trends for an example.) Also, how much time and money have you to spend on maintenance? Right now, look at properties that you either want to live in or can afford for the next two years, minimum.
source(s):
- years of experience in real estate and related fields.
- Dataquick trends for CA central valley from May 2006 forward (one of the most heavily effected areas in the current economy)

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lynemma | 3 years, 4 months ago
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It depends on your needs. For investment purposes, you'll need to figure out total cost including HOA, water/sewer, snow removal (if applicable) and fair market rents. In some markets condos are a better bet, while in others a single family/duplex is better. Please private message me for more information.

(I was a former market analyst for rental housing)

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darth continent | 3 years, 4 months ago
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I'd say a house. If you get a condo you may have to deal with and possibly pay monthly dues to a condo owner's association. While this is helpful as far as upkeep on the grounds as well as exterior damage to the unit is concerned, it can be difficult to deal with.

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