Condos VS Townhouse Difference | Which Should You Buy? 

Exactly - HOA dues can vary widely as to what you are paying for but like you say you have to consider that many of these costs when owning a townhouse will be additional to the mortgage cost. Also what ru-vid.com/show-UCXkk0nRsOWE3ZJDopLiDEoA is pointing out is affordability - she talked about appreciation but that is not even possible if you can't afford to buy the property. What Monica is spot on about is the lifestyle that can be difficult to approach financially in cities where real estate costs are high. You may not be at a point where you can afford an individual property (townhouse) so a condo can a great option and you have most of the maintenance included in your mortgage. This is a complex topic and I think Monica does a good job of Townhouse vs Condo 101.

Insurance depends on condo to condo. I’m a mortgage underwriter. Many condo policies don’t cover anything inside your individual units and you are required to get an HO-6 policy to cover the inside of your unit. Something to keep in mind.

THIS! I chose a townhome thinking that the monthlies would be way lower, but as it turns out, those monthlies wound up being around the same.

My townhouse comes with an HOA and I live in Seattle. When we were house hunting, HOA dues were pretty ubiquitous between both condos and townhomes, just due to the shared roofing, walls and grounds. Instead of worrying about having an HOA at all, we focused on looking at how the HOA was run, was it solvent and were the shared features of the townhomes in good repair, indicating that the board was responsible.

Ooooh this is really good to know! Thank you for sharing this!

It depends on each person some people are successful without a college degree and some are. Not everyone is the same but I do agree with your statement.

Do you find it was a good decision afterwards ? Looking into these now

@@Fullrusher My HOA allows a certain amount to be rented out and most people sell versus rent their condo out so, I took a gamble that when we’re ready to move out that we’d rent it out and make a passive income that way. At the moment, it fits our needs and is in the area we want to be in! For us, location played a huge amount in the ultimate decision.

if you can't put down more than 20%, don't buy. it's really going to make your life suck. PMI is *a lot*.

@@ursonate I can't say that I agree (20% in the Seattle market is a hefty sum)... I put down 5% a year and a half ago, refinanced and due to appreciation my PMI dropped. BUT, I hear what you are saying! PMI is definitely wasted money!

@@jodylancaster8706 i’m used to stepping over bums. We’re going down there for work, and yeah we know it’s not the most fall place in the world but it’s better than la that’s for sure.

It depends on the building and square footage. That unit was 900 square feet which is on the larger side for a 1 bedroom. But yes, it is on the higher side!

Basically nothing. They maintain the plants and clean the common areas. And then they increase the fees over time until its unaffordable.

This!!!

I love suburbs. Growing up in the suburbs was great, very safe.

Yeah and it increases over time until one day your paying 2000 dollars a month Hoa.

Maybe. But if your townhouse shares walls or other infrastructure with other units, you need to protect yourself. Also think about landscaping and other maintenance. Also if you try to sell in the future, having a well-funded HOA is a selling point (granted the on fire Seattle market isn't demonstrating that at the moment).

@@ursonate Yeah you make some good points but I just don’t like having people tell me what to do with mine

There is an Hoa with a townhouse and you get less for the amount of money you pay Hoa.

No stop moving to FL our real estate prices are through the roof with everyone moving here!!

@@jordanphillips8007 it’s not just Florida.... it’s all red states for some odd reason 🤔🤪

She is selling. The video is a great selling tool.