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Give me your thoughts on Condos/ Townhomes

956 Views | 2 Replies | Last: 9 mo ago by ktownag08
CAR96
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AG
After living in a 'garden style' home for 22 years I am looking for a change.

Tell me everything you know from experience if you have lived in a similar home.

I am thinking I want to explore townhome or condo style living.

How does the maintenance HOA work?
Absolute
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AG
It varies greatly for community to community. Definitely one of the things you have to check out. How do they handle maintenance, what is yours what is theirs, do they accrue for planned expenses or assess when they come up. Hoa and property managers are more important than in a single Family home community, but not necessarily any better run.

Have had a townhome (designated as a condo for some weird reason) in Plano for 30+ years. For the most part it is pretty decent and easy, lived there for a while after college then turned it into a rental. For the most part it is fine as far as the hoa. Low maintenance,since everything outside is taken care of. Property management company is pretty hit and miss, but most of them are.

Patio home is probably the closest to those In a single Family home, but you might hear neighbors more. Newer will be better in that category. Less upkeep and maintenance then sfh.

Happy to help out as an inspector or realtor if you are in the Dallas area.
ktownag08
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AG
Owned 2 different condos over the years. Both were in markets where condos were a predominant form of housing so they were well understood to buyers, generally had well run condo associations, and appreciated in value.

If you're in a market that condos are atypical, be careful.

Make sure you review condo docs. Worst case you are subject to a special assessment which basically means the association didn't budget and adjust regular dues properly.

We enjoyed condo living, but know what you're getting in to.
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