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[Azzurri]

I'm in the market for a house or townhouse, but I'm going back and forth on what I want.

The areas I'm looking at are very thought after places to live so prices are higher. I don't want to spend no more than 750k and although it's a lot of money, with current rates it really kills what you can get that's worth it IMO.

There are pros and cons.

Like the towbhouse I'm looking at is Tax abated for 10 years, means no property tax which saves me over 12k a year which really helps your monthly payment and it's a brand new development so it's all NEW and over 2500sf with attached 2 car garages and all the other community stuff you get with a low HOA fee. The neighborhood is right DT like half mile from the city so that's a plus.

The house is around the same price, but it's almost 100 years old, but fully updated and in a very desirable area with top schools (no kids so doens't matter to me, but means higher home prices and easier to sell) own yard and 2 car garage, but taxes are pretty high like 10k a year. The neighborhood is kinda like Lincoln Park not DT but like right there.

 

[Jinzo Prime]

We're going to need a lot more information.

What country are you in?
How much money do you make a year?
How much do you have in savings?
Are you single, married, girlfriend?
Is this a short-term place to stay, or will you be there for a very long time?
Are you good at manual labor?

 

[Meicyn]

Biased take, but I hate townhouses in general since you have most of the same drawbacks that you have with apartments. But it’s also a townhome with an HOA meaning, you’re subject to the whims of whomever is on the HOA council. HOA fees may be low now, but give it time! And if you violate HOA rules, in extreme circumstances, they can just take your townhome. Having a bunch of power-starved turds dictating that you can no longer place your garbage can in front of your garage door or that you can’t plant a pine tree in your front yard because it doesn’t fit the neighborhood’s aesthetic is less than ideal when you’ve paid six figures for a home. My first home is under an HOA and these days I just rent it out so my property manager handles all the passive aggressive BS. There is zero chance I will ever live in, much less purchase another HOA property.

The actual house with a yard would be my choice, 100%. Especially if you have natural beauty right at your doorstep. Ready access to natural beauty does so much for relaxing your mind. Having your own yard opens up possibilities just on its own. If you buy it though, be ready to spend money on upgrades and fixes. Any used home will have issues. I purchased my current home a few months ago and ended up spending nearly $15K replacing plumbing, encapsulating my crawlspace, and installing a tornado shelter, as the house is nearly 70 years old. Despite the additional expenses, I regret nothing.

 

[Azzurri]

We're going to need a lot more information.

What country are you in?
How much money do you make a year?
How much do you have in savings?
Are you single, married, girlfriend?
Is this a short-term place to stay, or will you be there for a very long time?
Are you good at manual labor?

I'm in the USA.

I make over 250k a year. I also have no debt.
My savings is enough to put down 20% with over 6 figures left over.
Single
Long term.
My family business is in Construction, so I've been doing it my whole life.

 

[Ikutachi]

I wouldn't bother with a townhouse if I'm that well-off. If the neighbor next to you catches fire, welp, your property is getting it too.

 

[Jinzo Prime]

I'm in the USA.

I make over 250k a year. I also have no debt.
My savings is enough to put down 20% with over 6 figures left over.
Single
Long term.
My family business is in Construction, so I've been doing it my whole life.

Ok, get the house. You can fix, or know someone who can fix, any problems that the house may have. Make sure it is inspected for mold, asbestos, and termites. Try to do something to add value to the home while you are there, like new windows, deck, porch, pool, gate, landscaping, whatever you can do with your skills.

 

[TransTrender]

House.
Don't want to deal with common walls with all that noise.

 

[AJUMP23]

Buy a house. i don’t think you want to share walls. Those property taxes sound outrageous.

 

[EviLore]

House. Property appreciates much more, no shared walls.

 

[jason10mm]

Hang on, you have a family construction business, make a crap ton a year, AND have deep pocket savings? WTF are you not building your dream house RIGHT FUCKING NOW? You know all the tricks to have immediate equity and can probably get the job done at a fraction of the cost siphoning stuff from other projects. You should be building homes, living in them for a couple of years, then selling and moving to the next home.

 

[ManaByte]

Townhomes are for lazy millennials who don’t want to deal with yard upkeep.

 

[Elder Legend]

I'm in the market for a house or townhouse, but I'm going back and forth on what I want.

The areas I'm looking at are very thought after places to live so prices are higher. I don't want to spend no more than 750k and although it's a lot of money, with current rates it really kills what you can get that's worth it IMO.

There are pros and cons.

Like the towbhouse I'm looking at is Tax abated for 10 years, means no property tax which saves me over 12k a year which really helps your monthly payment and it's a brand new development so it's all NEW and over 2500sf with attached 2 car garages and all the other community stuff you get with a low HOA fee. The neighborhood is right DT like half mile from the city so that's a plus.

The house is around the same price, but it's almost 100 years old, but fully updated and in a very desirable area with top schools (no kids so doens't matter to me, but means higher home prices and easier to sell) own yard and 2 car garage, but taxes are pretty high like 10k a year. The neighborhood is kinda like Lincoln Park not DT but like right there.

As a former realtor, I do not recommend buying ancient housing. You will be paying and spending more money in the long run because shit will keep breaking. As much as I personally prefer to live in a house versus townhouse due to privacy, I think in your case a townhouse will be better. Almost a 100 year old home is a big no no no., at least here in Florida.

I never been in your area though, so I can't give you the proper professional opinion on your state. As you understand, real estate is different in each and every state. But I just know ome thing for sure, old property you'll keep running into issues repeatedly imo.

 

[ThatStupidLion]

Im house over townhome person. But it sounds like you may feel a bit out of place living in suburbia amongst families….

 

[Kenneth Haight]

House 100%

 

[ahtlas7]

Careful with the HOA. They can be restrictive and controlling of your property.

 

[AlteredForms]

 

[FullMetalx117]

House is the smarter investment choice.

But townhomes are appealing because less maintenance, they are probably located in the “scene” more. Arguably a more “efficient” living situation? Idk, if you’re super busy all the time then that’s something to consider. These days no one really wants to deal with headaches it takes to maintain a house. I’m still in an apartment, even though I can probably get a house, not only because of rates but also because it’s been hard to give up the easy life style.

 

[Azzurri]

Thanks for the all the posts!

I know my family owns a const. company which would make you think just build, but find land in a area I like is wayway too much, I'm talking like 300k for a lot at minimum then you need a builder. Even as a builder you can't contract your own home, you need to 'hire' one. So building one would probably cost me north of a Million.

I know the house is a smarter choice but like Elder said owning a 100 year home will probably bring problems eve if it's completely updated, also Taxes in Columbus, Ohio area are fucking high and they just keep going up. WOuldn't be surprised to pay 15k in an other 5 years every year. They very rarely go down, I envy you guys who live in states with low property taxes.

Also, like Fullmetal said the town house is in an area with young professinals and 'hip area' walking to distance to all the good places to eat and drink since it's right outside DT and the HOA fee is like 150 a month which is very low. I know having shared walls sucks, but this town house is a 1+1 so it's just one other which makes them an End units which I would buy anyways. Also, not having to pay Property tax for 10 years is a YUGE plus.

I'm still debating, but with high interest rates the townhouse looks more appealing and I don't have to deal with the shit that comes with owing a house. I could always sell it down the road if I get a married or have kids in the future.

 

[StreetsofBeige]

In general, all things being pretty equal, always go for the house. It's your own, no morons on the other side of the walls and worst case is a condo townhouse development where you still got to follow rules like a condo apartment and pay monthly fees. In those cases, the rules might not even let you paint your garage unless you use approved colours from the dimwits in the management board.

The advantage of townhouses are they are cheaper, and a condo rules townhouse is even cheaper.

I did a condo apartment for years. The second I bought my own detached house there is no turning back ever.

Market prices are dinged right now due to sky high mortgage rates. Rate increases have basically bottomed out. Once everything recovers and mortgage rates drop to a reasonable 3% (no need for ultra low 1.2% like I was paying before hikes), that house will zoom up in price more than the townhouse.

 

[LordOfChaos]

I make over 250k a year. I also have no debt.
My savings is enough to put down 20% with over 6 figures left over.
My family business is in Construction, so I've been doing it my whole life.

Good for you man! It sounds like you make enough and would be more than handy enough for a house, and likely have all sorts of family and contractor connections to pull in worst case

 

[jason10mm]

How can you not build your own home? Builder buddy of mine did just that, he lived in the "showcase home" for his company.

Ohio got some strange laws I guess.

 

[Azzurri]

How can you not build your own home? Builder buddy of mine did just that, he lived in the "showcase home" for his company.

Ohio got some strange laws I guess.

Yea, I don't know if it's an Ohio law, but you can't build your own home if you're a builder, but there are ways around it.

 

[Meicyn]

Thanks for the all the posts!

I know my family owns a const. company which would make you think just build, but find land in a area I like is wayway too much, I'm talking like 300k for a lot at minimum then you need a builder. Even as a builder you can't contract your own home, you need to 'hire' one. So building one would probably cost me north of a Million.

I know the house is a smarter choice but like Elder said owning a 100 year home will probably bring problems eve if it's completely updated, also Taxes in Columbus, Ohio area are fucking high and they just keep going up. WOuldn't be surprised to pay 15k in an other 5 years every year. They very rarely go down, I envy you guys who live in states with low property taxes.

Also, like Fullmetal said the town house is in an area with young professinals and 'hip area' walking to distance to all the good places to eat and drink since it's right outside DT and the HOA fee is like 150 a month which is very low. I know having shared walls sucks, but this town house is a 1+1 so it's just one other which makes them an End units which I would buy anyways. Also, not having to pay Property tax for 10 years is a YUGE plus.

I'm still debating, but with high interest rates the townhouse looks more appealing and I don't have to deal with the shit that comes with owing a house. I could always sell it down the road if I get a married or have kids in the future.

Well, if you’re leaning more towards the townhouse, you should go for it. Not paying property taxes is effectively $100K minimum over those 10 years, so you could set that money aside for your next property. Instead of selling the townhouse when you decide to move, I recommend you rent it out instead.

 

[bitbydeath]

Yea, I don't know if it's an Ohio law, but you can't build your own home if you're a builder, but there are ways around it.

I’d question this further because it sounds absurd lol

That said go buy a home, I’ve heard nothing but bad things about HoA properties.

 

[Facism]

HoA sounds great if you love paying to be told by a group of twats what you can and can't do with you're own home.

 

[Winter John]

I wouldn't live anywhere with an HOA. I can't even begin to imagine living next to the kind of assholes who actually volunteer for them things. Although to be fair them types wouldn't want me next door.

Oh hi John, can we talk about the color of your mail box? It's not regulation.
Oh hi Joan, when are ya gonna shave that moustache? You're scaring the fuck out my kid you hairy bitch.

You see, it just would not work.

 

[Mihos]

Do you enjoy noise complaints, or enjoy making noise complaints? Then townhouse is for you!

 

[Drake]

I'm in the USA.

I make over 250k a year. I also have no debt.
My savings is enough to put down 20% with over 6 figures left over.
Single
Long term.
My family business is in Construction, so I've been doing it my whole life.

With that type of income and being single you should just get a house. With 20% down you could probably have a half million dollar house paid off relatively quickly and then you are basically set for life. Shared walls suck even if its a nice Town House. And yes, taxes will be high on a half million dollar home, but 15k is basically a drop in the bucket when you're pulling in a quarter mil a year. Sounds like you got a good head on your shoulders. Don't drink too much, gamble, or do hard drugs and you'll be fine.

That's what I would do at least, if I was in your position.

 

[Hawking Radiation]

I wouldn't bother with a townhouse if I'm that well-off. If the neighbor next to you catches fire, welp, your property is getting it too.

If you're boning your wife, welp, your neighbors getting some too.

Unless you're Will Smith then its all good.

 

[cash_longfellow]

Asking Gaf how you should spend 750k is probably not going to end well…that’s my take on the question

 

[Hawking Radiation]

Do you enjoy noise complaints, or enjoy making noise complaints? Then townhouse is for you!

Yeah that would suck.

 

[Durien]

House. But I also don't like townhouses. They are a good initial investment if you are young and want to bud equity in something buy it looks like you are good to go so I would cut to the chase. Make sure it is big enough for a family if you plan on having one.

 

[RJMacready73]

Fuck buying a house that isn't really yours to do with as you please but instead the rules to live there are dictated by fucking Janis from lot no.2436 who wants everyone to be a fucking Borg and conform... Honestly the horror stories I've read about HOA's I can't fathom how anyone would put up with it or why its even a thing, I'd murder a cunt who had the balls to tell me what I can and can't do with my $750k purchase.

Your dad is in construction so owning an old home becomes an absolute no brainer imo, any fault can be fixed cheap but it sounds like you want the lifestyle of city living with no hassles so go with the townhouse, also can you post up the HOA rules for shits and giggles

 

[KrakenIPA]

I'm in the USA.

I make over 250k a year. I also have no debt.
My savings is enough to put down 20% with over 6 figures left over.
Single
Long term.
My family business is in Construction, so I've been doing it my whole life.

 

[AV]

If you can afford semi-detached or attached, always do so an reduce your chances of shitty neighbours.

 

[Hudo]

 

[Mistake]

House. More value and HOAs aren't worth the potential hassle. Also harder to sell

 

[EverydayBeast]

Millions of people have town houses.

 

[Durien]

House. More value and HOAs aren't worth the potential hassle. Also harder to sell

One thing to note, in some developments, there is an HOA. Mine is $125 per year and pretty much pays to keep the green belts and parks maintained. I have painted my house, cut down trees (looked like they would fall over and roots were invading the neighbors property and heading toward their driveway. No one complains or anything.

 

[Mistake]

One thing to note, in some developments, there is an HOA. Mine is $125 per year and pretty much pays to keep the green belts and parks maintained. I have painted my house, cut down trees (looked like they would fall over and roots were invading the neighbors property and heading toward their driveway. No one complains or anything.

HOAs are known for being very hit or miss. It all depends on who gets in charge. But when they're bad, they're really bad. I hear there's a lot of lawsuits going on in Florida because of them. Here's one example

 

[Durien]

HOAs are known for being very hit or miss. It all depends on who gets in charge. But when they're bad, they're really bad. I hear there's a lot of lawsuits going on in Florida because of them. Here's one example

Holy shit that is quite the windfall.

 

[Raonak]

Wondering about this too...

I'm renting a new townhouse/apartment in the middle of the city right now,
I absolutely love it. no lawn or outside maintenance is bit of a gamechanger honestly.
Never hear any noises except random banging from the walls. Hear more noise from directly outside than any neighbors.

 

[ahtlas7]

I just watched a podcast on this Greek Philosopher, Diogenes of Sinope. Weird old coot.

 

[jason10mm]

The key to a good HOA is for it to be run by just the residents of the development so you can go to meetings yourself. If it gets outsourced to a big company, game over man.

 

[OmegaSupreme]

House. Ideally with some acreage.

 

[Terrtin]

The actual house with a yard would be my choice, 100%. Especially if you have natural beauty right at your doorstep. Ready access to natural beauty does so much for relaxing your mind. Having your own yard opens up possibilities just on its own. If you buy it though, be ready to spend money on upgrades and fixes. Any used home will have issues. I purchased my current home a few months ago and ended up spending nearly $15K replacing plumbing, encapsulating my crawlspace, and installing a tornado shelter, as the house is nearly 70 years old. Despite the additional expenses, I regret nothing. And would also like to make some new things to my house, like for example windows replacement More info

I also think that house is a good choice here. My opinion only. I would also prefer to live in my own house rather than in a flat

 

[Lunarorbit]

House 100%. Townhouses and hoa are Nightmares. You never know who's on the other side of the wall. I've had screaming loud neighbors in apartments.

My tolerance for that disappeared in my 30s

 

[Ownage]

Either are great, tho houses will retain value and grow in value faster. Plus it's less likely you will hear big booming bootybass from your neighbors if you don't share a wall with them.

Buy what you can afford. There's no reason to be house rich money poor. Kudos and respect for your purchase.

 

[Ophiuchus]

Choosing between a townhouse and a house can be tough, especially when both options have strong pros and cons. Based on what you've described, the townhouse might be a better fit given its financial advantages. The tax abatement saves you a significant amount of money annually, and the fact that it's a new development means less immediate maintenance and repair costs. The added perks of community amenities and the proximity to downtown are great bonuses. The low HOA fee is another plus, making it a financially sound choice in a high-demand area.

Interestingly, I recently learned about some stunning properties for sale in Marbella, including apartments, properties, and villas. This got me thinking that perhaps broadening your search could yield even more options within your budget, offering similar or even greater benefits. In Marbella, for example, you can find various modern properties that might offer the same new-build advantages and tax benefits you're looking at with the townhouse. Exploring such alternatives could give you more bang for your buck and potentially uncover a dream home you hadn't considered. For more details, check out https://3saestate.com/for-sale/.

 

[Raven117]

I'm in the USA.

I make over 250k a year. I also have no debt.
My savings is enough to put down 20% with over 6 figures left over.
Single
Long term.
My family business is in Construction, so I've been doing it my whole life.

Honestly man, why do you think you need a house or townhouse? (Unless you just want one).

If you are living below your means on rent, investing the difference on a good clip, you likely aren’t forgoing a lot of gains (you are probably coming out ahead). This would keep your powder dry from the inevitable downturn and you can pick something up for a better price and interest rate.

Not financial advice, just something to consider.