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Condo or House?


dover
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I'm done renting at this point in my life and need to move forward on ownership. My biggest dilemma is deciding between the two. Money isn't an issue, more time than anything. I work overseas 9+ months of the year. It isn't forever though and I would like to invest in something I can come home to and be happy with. Mom's an interior designer so fixing something the way I like it isn't a problem either. I don't have pets but I do have a 2 year old I'd like for him to be close to amenities (park/pool).

 

Those of you who do/have:

Condo's - pros/cons

 

House's - pros/cons

 

*One idea I have for getting a condo would be that I could have one paid off in a couple years and rent it and when I am finished doing this work buy a house and have a rental.

 

Input is appreciated.

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I work overseas 9+ months of the year. I don't have pets but I do have a 2 year old I'd like for him to be close to amenities (park/pool).

 

*One idea I have for getting a condo would be that I could have one paid off in a couple years and rent it and when I am finished doing this work buy a house and have a rental.

 

CONDO (or townhome): Get something that doesn't require yardwork, close to good schools/parks. My suggestion would be Grandview. Yes, you pay more for less sq-ft, but in the long run it will be rentable all the way through your child going to college.

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Well, I haven't owned a condo for almost 15 years, but I imagine the pros are still similar. Yard work is almost non-existent, and you may have access to community pools, workout facilities, or a party house. Your neighbors most likely care about their units, so there's far less likelihood of dipshit neighbors, but inversely there may be an HOA nazi.

 

Obviously the benefit of a house is privacy (though neighbor/HOA nonsense is still abound, hence why I just bought 5 acres out in the middle of nowhere with practically zero deed restrictions), but at the cost of the time required to care for it. If you don't mind paying a landscaping company to care for the yard when you're gone that's easy enough.

 

As far as owning rental properties I helped my dad with a few of his, and while he pulled decent side income from the few properties he owned, he had one or two nightmare tenants over the years and kicking them out, and repairing the damages they left certainly left a sour taste in my mouth. The areas weren't the best, but they weren't hood either. Also, some communities may limit rental options.

 

Good luck with whatever you do.

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i've been deployed for +6 months twice since i bought my house. single-guy home ownership while deployed is a pain in the dick. if i was deployed more (especially for 9 months a year), i would definitely be in a condo or looking for month-by-month rentals.
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Condo since you are gone so much. Maintenance would be a PITA with a house.

 

I just wouldn't buy into a new development, seems to be the fast path to getting screwed. Everyone I know who has bought a new condo has lost their ass. Find something that's a couple years old, hell they will probably still be building in other parts of the development.

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The big points that come to my mind are that a condo will be much easier taking care of when you aren't home for a large part of the year, but a house typically has better privacy and resale value. Condos used to be hard to sell, they seem to have gotten more popular and not as big of a deal but I'm still unsure about how easy it would be to sell when that time comes. If I could find a way to make a house work I would, although condos are a very good option for someone in your position.
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Would the house be vacant 9 mo a year or just you won't be there 9 mo a year?

 

Something to keep in mind from the yard work/ landscaping argument is you can have landscaping done for about half per month that an condo hoa charges. The condos exterior benefit is siding and roofs but that won't matter for your house because your around enough to have that done.

Condos can make for good rentals but don't appreciate

 

Sent from my SM-G928V using Tapatalk

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My girlfriend is in the process of getting some stuff done at her condo to sell it in the next month or so. Westerville schools. Near Cleveland Ave and Cooper. Let me know if you're interested. Community pool at the end of her building. Within walking distance to uptown (about a mile) and Otterbein.
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For your situation, definitely a condo. The biggest thing is, if there's some major storm while you're gone and it needs repaired, the condo association can handle that for you.

 

You may also want to look into utilizing your condo as an AirBnB while you're gone (depending where you get one). It's a good thing to have it occupied and you can make some extra money while you're gone. Columbus is a pretty popular city for AirBnB with all the stuff we have going on here.

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