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She is moving to the area (divorced, no children) and is not sure if she should buy a condo or a house. It seems obvious about the differences in upkeep but what about resale? How's the market for town homes/condos in the triangle? Does 2 bed rooms vs. 3 make a big difference for resale/investment? Her price range is in the upper $100 - low $200's but she is having a hard time deciding on location, new vs. old, etc. Any agent input would be great!
She really likes the TH at Twisted Creek in HS.....any input on Vespa Homes??
Last edited by rkburk; 08-07-2007 at 03:51 PM..
Reason: additional info added
I'm not an expert, but unless it is in an exceptional location condos and townhomes do not do as well a Single Family Home when it comes to resales in this area. If budget is an issue and you have to go that route, I would choose a townhouse over a condo. But if she is in the upper 100's to 200's she should be able to find a SFH that would work. Location really depends on where she plans to work.
She has been renting for the last year and now that her divorce is final she is thinking of something more permanent b/c of her age (late 40's). Her concern about a house is the upkeep of a yard, etc but you are right that she could find a nice one in her $$ range. This is her first major "on her own" decision that she has made in along time and is nervous about the best option.
A couple of things. First, Holly Springs is a great
up and coming town! Forbes just named Holly Springs
one of the fastest growing suburbs in America. The
town is safe, great parks, great shopping, and easy
commutes to RTP, Raleigh, and Cary.
If she wants a townhouse, Holly Springs is a great
place for it. As for the bedrooms, 3 is more
desirable for resale, future rental opp in the future,
etc. More is better!
Single family homes usually do appreciate faster. Townhouses would be next and then condos.
If I were single (gee, can't remember NOT being married), I'd go for the townhouse so the yard work would be done for me!
There are some really nice townhouses in Bedford and Wakefield and Long Lake for under $200,000 that have appreciated well in the past and I don't any reason why they wouldn't continue. I showed a few of these last night so they are the ones I remember but there are plenty of others, as well.
um.. what exactly is so challenging about using a lawn mower or if you can't, hiring someone to do it for you? I know plenty of single women who own and maintain their own homes and are getting along just fine. And finances aside, some people just don't want to share walls.
To answer the question specifically, SFH's do seem to have better appreciation and move faster in this particular market. If you can afford the home and can either do the maintenance or afford to hire someone why throw away money on rent? On that budget, she could easily afford a nice single family home in certain areas. If maintenance is an issue, then I would recommend a townhome over a condo for stronger resale but that's just my opinion.
Wait a minute. What does that have to do with the price of beans (or real estate, for that matter?) Why shouldn't someone who's single build equity? In fact, it makes more sense for a single person, because they're solely responsible for their financial well-being.
I used to think I would wait until marriage to buy a place; however, I decided to jump into the real estate market on my own, not waiting until prince charming comes along. I got in at the right time, and my place is worth double what I paid for it. I wasn't about to miss out on an opportunity, just because I was single.
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