$400K to spend: Townhouse or 1950s style Single Family Detached home? (Springfield: mortgage, house prices)

[hunterseat]

I'm sure prices are exactly that in NoVA but we'd be looking for a fixer-upper or I'd do the drive. It hurts to think of spending that much on a house. Heck we'd get a boat to live on!

[Carlingtonian]

Townhouse:

Pro: Possibly larger bedrooms and/or open floor plan; no maintenance on your part; lower price means you could afford to be closer to work or in a better school district; possibly more social due to closer proximity to neighbors--though in my experience in condo buildings, it's been more or less the same.

Con: HOA fee is hundreds/month and not tax-deductible, unlike property tax--and they can raise it without much notice; noisier (due to shared walls); guest parking can be scarce and spaces tight; may be harder to sell when others nearby are selling similar or identical units; relying on maintenance staff may mean you have to wait for things to be fixed; much smaller backyard

'50s house:

Pro: No HOA fee, meaning savings of thousands per year; less noise; more abundant and physically easier parking; probably easier/better resale in that you're not competing with multiple identical units in the same development; no waiting for repairs; more yard space; more privacy; much more yard space

Con: If something big breaks (like HVAC), it's thousands, though it can be years between such repairs; smaller bedrooms (but just what are you doing in there--gymnastics? Don't answer that! At least not without a photo ); possibly dated fixtures; you will need to at least mow the lawn (though you could hire a company); could cause you to feel isolated, depending on the neighborhood; higher cost generally will mean you're farther out or in less desirable school pyramid.

Originally Posted by Curious Discussion

The single family detached home built in the 1950s and 1960s still have very small rooms, which are problamatic. The ones that have been updated and enlarged are not selling at townhome prices. I have seen lots of single family homes from that era that made me think I had gone back in a time machine, nothing had changed!

Try living in a 1930s house. Yeah, the bedrooms are small--closets even smaller. You have to just not acquire too much stuff. Our first house was 816 sq ft. When we moved into a house with 2100+, it felt like a palace!

[spencgr]

Originally Posted by Carlingtonian

Townhouse:

Pro: Possibly larger bedrooms and/or open floor plan; no maintenance on your part; lower price means you could afford to be closer to work or in a better school district; possibly more social due to closer proximity to neighbors--though in my experience in condo buildings, it's been more or less the same.

Con: HOA fee is hundreds/month and not tax-deductible, unlike property tax--and they can raise it without much notice; noisier (due to shared walls); guest parking can be problematic; may be harder to sell when others nearby are selling similar or identical units; relying on maintenance staff may mean you have to wait for things to be fixed; much smaller backyard

'50s house:

Pro: No HOA fee, meaning savings of thousands per year; less noise; more abundant and physically easier parking; probably easier/better resale in that you're not competing with multiple identical units in the same development; no waiting for repairs; more yard space; more privacy

Con: If something big breaks (like HVAC), it's thousands, though it can be years between such repairs; smaller bedrooms (but just what are you doing in there--gymnastics? Don't answer that! At least not without a photo); possibly dated fixtures; you will need to at least mow the lawn (though you could hire a company); could cause you to feel isolated, depending on the neighborhood; higher cost generally will mean you're farther out or in less desirable school pyramid.

while I am sure some townhouses are like that, most are not. What you described is a condo. Very few townhouse HOAs cover anything inside the walls, so all repairs are on the owner. You are responsible for your own HVAC in a townhouse or SFH. Also, the HOA fees in my Sterling townhome (which is now a rental, so they are tax deductable) are only $100 /month. They are generally much cheapr than condo fees.

Guest (and often time owner) parking is usually a huge problem with townhomes. We were lucky, as our street was at the edge of the neighborhood, and backed up to a dead end county street. If you wanted, you could park 40-50 cars back there. Most aren't that lucky.

[Carlingtonian]

Originally Posted by spencgr

while I am sure some townhouses are like that, most are not. What you described is a condo. Very few townhouse HOAs cover anything inside the walls, so all repairs are on the owner. You are responsible for your own HVAC in a townhouse or SFH. Also, the HOA fees in my Sterling townhome (which is now a rental, so they are tax deductable) are only $100 /month. They are generally much cheapr than condo fees.

I stand corrected; I've never lived in a TH--just a condo.

If the HOA fee is that low, that makes them much more appealing to my thinking. I've seen some really nice-looking TH communities near my dentist in McLean, off of Old Dominion.

[Ffxdata]

Originally Posted by spencgr

while I am sure some townhouses are like that, most are not. What you described is a condo. Very few townhouse HOAs cover anything inside the walls, so all repairs are on the owner. You are responsible for your own HVAC in a townhouse or SFH. Also, the HOA fees in my Sterling townhome (which is now a rental, so they are tax deductable) are only $100 /month. They are generally much cheapr than condo fees.

Guest (and often time owner) parking is usually a huge problem with townhomes. We were lucky, as our street was at the edge of the neighborhood, and backed up to a dead end county street. If you wanted, you could park 40-50 cars back there. Most aren't that lucky.

Yes. For our townhouse, our fees are $60 a month. As for raising fees, the amount they can raise them is generally listed in the HOA documents. Generally it is a nominal amount of 2-4% per year or voted on by a majority of home owners. It's not quite as arbitrary, but check the documents before buying.

We are responsible for landscaping and trees on our lot. There are no maintenance people at all.

[boyd888]

While I do prefer not having an HOA, in an older neighborhood you are still paying for the same things (albeit more in an a la carte way). Trash pickup is like $30 a month and the pool is $400 a year. Granted I choose not to pay for either, but if you did that would be $70 a month for two things that are likely included in any newer community's HOA fee.

[Carlingtonian]

Originally Posted by boyd888

While I do prefer not having an HOA, in an older neighborhood you are still paying for the same things (albeit more in an a la carte way). Trash pickup is like $30 a month and the pool is $400 a year. Granted I choose not to pay for either, but if you did that would be $70 a month for two things that are likely included in any newer community's HOA fee.

That's pretty pricey for trash/recycling pickup. I just looked at our bill (older 'hood in Arlington), and it's $67 for 3 months. (This is in addition to sewer and water.)

[ChristineVA]

Originally Posted by Carlingtonian

That's pretty pricey for trash/recycling pickup. I just looked at our bill (older 'hood in Arlington), and it's $67 for 3 months. (This is in addition to sewer and water.)

I live in a SFH in an HOA. My HOA dues are $78 a quarter and include trash pickup. One of the benefits of an HOA is usually a very good discount on trash pickup due to the everyone using the same service and the HOA footing the bill.

[Carlingtonian]

Originally Posted by ChristineVA

I live in a SFH in an HOA. My HOA dues are $78 a quarter and include trash pickup. One of the benefits of an HOA is usually a very good discount on trash pickup due to the everyone using the same service and the HOA footing the bill.

Does that include water and sewer? For us, those and the trash are all on the same bill, which every 3 months or so is around $120. Obviously that's in addition to gas/electric.

[ChristineVA]

Originally Posted by Carlingtonian

Does that include water and sewer? For us, those and the trash are all on the same bill, which every 3 months or so is around $120. Obviously that's in addition to gas/electric.

God, I wish. My water is one bill. Then I have a separate sewer bill. I find them both to be really high, IMO.