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LittleBlueBug
Happy Mommy
Member since 9/06 4074 total posts
Name:
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Condo question
DH and I are considering moving back to LI. We were looking at houses and condos. We are both a little inexperienced w/ all of this. What are the pros and cons about buying a condo? Is it much cheaper than a house (on average)? How about co-ops (pros vs cons)?
TIA!
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Posted 6/23/07 2:32 PM  |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Condo question
I have lived in a condo for almost 8 years. The only con - you have neighbors on all sides, which has the potential to be an issue. We've been very lucky, and other than a barking dog issue (which was quickly resolved) I have zero complaints.
Pros - no snow removal, no cutting grass, no outside maintenance other than a little flower bed (which you can opt for the condo to do) and your own patio. I moved in when I was still single, and so thankful that there are people always around - we have never, ever felt unsafe.
8 years ago - there was a pretty substantial price difference between condos and houses. I do not think that is the case - if anything, just a slight difference, that depending on your monthly maintenance fee - may make the prices equal.
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| Posted 6/23/07 2:58 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Condo question
based on your other post about no money down- you are most likely going to have to rule OUT co-ops they genrally require 20% down
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| Posted 6/23/07 3:34 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Condo question
Posted by Karen
I have lived in a condo for almost 8 years. The only con - you have neighbors on all sides, which has the potential to be an issue. We've been very lucky, and other than a barking dog issue (which was quickly resolved) I have zero complaints.
Pros - no snow removal, no cutting grass, no outside maintenance other than a little flower bed (which you can opt for the condo to do) and your own patio. I moved in when I was still single, and so thankful that there are people always around - we have never, ever felt unsafe.
8 years ago - there was a pretty substantial price difference between condos and houses. I do not think that is the case - if anything, just a slight difference, that depending on your monthly maintenance fee - may make the prices equal.
ITA. We are in a condo, and the only complaint I would say is the neighbor noise, which is so hard to predict. I love having no maintenance, not having to mow, shovel, etc., and I love having a pool in the complex and a fitness center. We have a large plot of area that we plant, so it's really the best of both worlds.
That said, we moved in in '04 when there was a much larger difference between house prices and condos. Now the prices are very similar, with many condos selling for more than the cheapest homes.
Co-ops from what I can see are generally cheaper, but have higher monthly common charges, though those fees tend to include more (some include gas, electric, etc.). But I don't think you'll get a co-op with no money down.
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| Posted 6/23/07 4:13 PM |
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LittleBlueBug
Happy Mommy
Member since 9/06 4074 total posts
Name:
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Re: Condo question
Oh I was just asking before about the no money down. That has nothing to do really with this.
Thanks for the info ladies!
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| Posted 6/23/07 4:33 PM |
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