A small SFH or condo? Pros and cons? (Lake Forest, Laguna: apartments, renting) - City-Data Forum

Podo944 · 09-24-2010, 02:30 PM

Hi Folks!
My hubby and I have been pre-qualified for a home loan, and found out because rates and home prices are low at this time we could possibly afford a small single family house as well as a townhouse or condo! Hmmm...
So... since we really hadn't thought of a SFH as an option, I'd love any and all opinions concerning the pros and cons of paying a little more for a single family home as opposed to a less expensive condo but paying those association fees!

I certainly like the idea of more privacy and independence, yet it seems condo living is "less work"? Thoughts???

BTW, it's just me and hubby, and we're looking primarily in the MV, LF, LH area and we're not going for anything more than a 2 possibly 3 bedroom place.... Oh! And we're not in the 55 year catagory yet for Casta Del Sol or Laguna Woods.
Thanks!!

EscapeCalifornia · 09-24-2010, 02:38 PM

I've lived in both houses and apartments and I would never buy anything with shared walls. At least renting I can always put in 30 days notice and get away from ahole neighbors who insist on making life miserable for everyone around them.

You're responsible for inside maintenance either way but with a house you'd have a yard and exterior maintenance. Basic yard care is pretty cheap if you don't want to do it yourself. As for the exterior maintenance (roof, paint, etc), you'll pay for it either way but at least with a house you can deal with it on your own schedule rather than someone else's.

Narfcake · 09-24-2010, 02:50 PM

House all the way ... preferably without a HOA. That's the big reason when I bought that I didn't want a condo/townhouse/PUD ... it's the HOA. Don't we have enough rules and regulations in life already? I don't need yet another one to say that my lawn is an inch too high, that the exterior has to be a certain color only, or that I can't even wash my own car in my own driveway.

Yes, there will be some exterior work, but if the house is a decent one (ie. not a fixer-upper), you shouldn't have anything major to worry about for some time.

Podo944 · 09-24-2010, 04:54 PM

Hmmm... very good points.
I think some of the older little homes in Lake Forest are HOA free.
I saw some places in Laguna Hills that were pretty, and they have some fees, but they weren't in the 300 dollar range that many of the condo's have! Yikes!

EscapeCalifornia · 09-24-2010, 05:37 PM

Quote:

Originally Posted by Podo944

Hmmm... very good points.
I think some of the older little homes in Lake Forest are HOA free.
I saw some places in Laguna Hills that were pretty, and they have some fees, but they weren't in the 300 dollar range that many of the condo's have! Yikes!

Yeah you pay $300/mo to some HOA then they need to do a big project like a new roof, discover they're short, and send you a big fat bill for it.

Podo944 · 09-24-2010, 08:59 PM

Okay... but what if the condo is in a pretty nice area; not ritzy, but clean and sharp, and the SFH is in a more run down area with cars on blocks etc.?
Hmmm... well at least you'd have the freedom to build a wall around your house?

Mr. Fantastic · 09-27-2010, 10:37 AM

Condos are for couples, or single professionals.

If you have kids, go for the SFR.

Vinsanity · 09-27-2010, 11:12 AM

It depends on what the budget is. I'd rather live in a decent condo than a detached fixer-upper in a questionable neighborhood for the same price. Personally, I probably wouldn't start looking at detached units until around the $400k range.

flo2900 · 09-27-2010, 06:35 PM

Quote:

Originally Posted by Vinsanity

It depends on what the budget is. I'd rather live in a decent condo than a detached fixer-upper in a questionable neighborhood for the same price. Personally, I probably wouldn't start looking at detached units until around the $400k range.

agree!

ferretkona · 09-27-2010, 07:51 PM

We have a condo. I understand the biggest problem common to all condos is parking.
We have a cool neighbor. The pool is always kept at 88 degrees and clean. Lawn is mowed twice a week. A flip of the coin if we use the common jacuzzi or the one in our backyard.

A plus, property insurance is paid by the HOA. Dues include water, trash, landscaping and maintance.
Dues can vary a lot. Ours is $200, across the street is a different tract that charges $500 a month.

At times I wish I owned a SFH instead. But I would not want to own my own pool. Parking issues can be worked around.

Make sure to avoid areas with Mello Roos. Added property taxes, CA state is 1%. Why buy a house with 2%?