House vs. Condo in PBG/Jupiter (Palm Beach Gardens, Palm Beach: real estate, rent, HOA fees) - West Palm Beach - Boca Raton - Boynton Beach - Florida (FL) -Palm Beach County - City-Data Forum

RandomGuy85 · 09-29-2013, 09:23 AM

I am in my mid-to-late 20's, currently living in PSL (unfortunately), and working down here in Jupiter. I am currently looking for real estate in Palm Beach Gardens or Jupiter, I am looking to "invest" in a house first and foremost, but I would consider a condo if the value is right. Can anyone educate me on where or when a condo would be a better investment than a house in this particular area?

NHbound22 · 09-29-2013, 02:54 PM

Hello,

If you have a family go for a house. I've lived in The Bluffs (Juno Beach but considered Jupiter) and it was a wonderfully, quite place to live but once we started a family condo living was just not functional. If you plan on buying a home eventually just do it. You'll save your self some money. If you plan on keeping your condo and renting it out later then do that. It depends on what you want long term. Places with great condos/townhomes are Westwood Gardens (PBG) and The Bluffs (Jupiter but seems like Juno to me).

RandomGuy85 · 09-29-2013, 03:19 PM

Quote:

Originally Posted by NHbound22

Hello,

If you have a family go for a house. I've lived in The Bluffs (Juno Beach but considered Jupiter) and it was a wonderfully, quite place to live but once we started a family condo living was just not functional. If you plan on buying a home eventually just do it. You'll save your self some money. If you plan on keeping your condo and renting it out later then do that. It depends on what you want long term. Places with great condos/townhomes are Westwood Gardens (PBG) and The Bluffs (Jupiter but seems like Juno to me).

I'm a single male at the moment, but I want to invest in something that I'll get a return on as I've heard condos can be a risky investment. I'll check those places out that you mentioned to see if anything catches my eye. I'm still unsure whether to actually go with a condo vs. a house.

garyhitchcock · 09-29-2013, 06:25 PM

A house is usually a better investment when comparing apples to apples. A $300,000 condo on the beach could out perform a $300,000 run down house out west but I only use this as an example because this is not apples to apples. Real estate is always about location, location, location and since the condo on the beach has a spectacular view, then you'd have to buy a house with a great water view or golf view and it will outperform. There are other reasons homes outperform condos, the public schools in the east do not perform as well as in the west, etc. etc. In family areas, school districts determine resale value. Condos in areas where there are a high concentration of investors, or second home condos are not going to perform as well because the demand is not as strong, when the market changes dramatically like the last bubble. Investors or second home owners will dump their condos when they get financially challenged.

RandomGuy85 · 09-30-2013, 05:10 PM

Quote:

Originally Posted by garyhitchcock

A house is usually a better investment when comparing apples to apples. A $300,000 condo on the beach could out perform a $300,000 run down house out west but I only use this as an example because this is not apples to apples. Real estate is always about location, location, location and since the condo on the beach has a spectacular view, then you'd have to buy a house with a great water view or golf view and it will outperform. There are other reasons homes outperform condos, the public schools in the east do not perform as well as in the west, etc. etc. In family areas, school districts determine resale value. Condos in areas where there are a high concentration of investors, or second home condos are not going to perform as well because the demand is not as strong, when the market changes dramatically like the last bubble. Investors or second home owners will dump their condos when they get financially challenged.

I understand your point, but what if we were to cut that value in half... let's say a sub-$150,000 house vs. a sub-$150,000 condo? Would your point change at all if that were the case? The reason I say sub-$150,000 is because that is pretty much my limit without spending all of my money.

JimT7406 · 10-01-2013, 05:34 AM

Buying at the right price is the most important factor you need to concern yourself with. You will have a bad investment if you overpay. Homes and condos have their good and bad and you need to separate the two. Also stay local, if you want to buy near the beach then research that area, if you want a home out west then do the same. If you have a 150k budget you need to pinpoint homes OR condos in that price range and the neighborhoods they are in. You need to then get to know the pricing in those areas you would like to move into and get the best deal you can. There are plenty of online research tools to help you along the way and finding a good agent who knows the area you want to buy in can't hurt. You can go to Homepath.com or Homesteps.com among other to see what bank REO' are available or realtor.com for what is on MLS. Good Luck

rusty78 · 10-01-2013, 06:10 AM

I had both when I was your age and single and I can tell you without a second thought...go for the condo or townhouse...yes the house will more than likely appreciate more...but there is nothing like being single and coming home to your home (condo/townhouse) and being able take a quick shower and go right back out. A house on the other hand, will require weekly maintenance - $$$$ - and guess who will be doing it?

skylinet · 10-01-2013, 07:22 AM

You won't get much if anything for 150k as far as a sfh is concerned in PBG or Jupiter.
There's a few townhomes left in that price range. You'll get a little more rent for a townhouse as well as square footage.

VietlOtUs · 10-02-2013, 10:53 AM

Let's see if the townhouse/condo has HOA, what does HOA covers and not covers? Is there property tax on top of HOA? What other tax or fees are there? Let's say if the mortgage is $950/month, $240HOA/Month... electricity/cable/etc... is that normal? is that what people are paying to be a townhouse/condo owner?

My rent is $950/month now anyway, honestly, if I can, I would also go for a townhouse/condo. Like Rusty said, it's wonderful not to worry about the upkeep (outside) of the property. Later on, if you want to get a house or move to another state, you can rent the place out or sell it.

Is it difficult to get a condo/townhouse in Jupiter/Juno/Tequesta for $150K?

TriMT7 · 10-02-2013, 11:07 AM

Quote:

Originally Posted by VietlOtUs

Let's see if the townhouse/condo has HOA, what does HOA covers and not covers? Is there property tax on top of HOA? What other tax or fees are there? Let's say if the mortgage is $950/month, $240HOA/Month... electricity/cable/etc... is that normal? is that what people are paying to be a townhouse/condo owner?

My rent is $950/month now anyway, honestly, if I can, I would also go for a townhouse/condo. Like Rusty said, it's wonderful not to worry about the upkeep (outside) of the property. Later on, if you want to get a house or move to another state, you can rent the place out or sell it.

Is it difficult to get a condo/townhouse in Jupiter/Juno/Tequesta for $150K?

Right now there are 51 townhouses/villas/condos in Jupiter/Palm Beach Gardens/Juno Beach under 150k.

Some are not in the best of neighborhoods. Some are in very good neighborhoods (like Abacoa Town Center, where you can snag a 3 bedroom/2 bath condo with views of the stadium for $149k, but the HOA will be $565/month). And yes, property tax is separate from HOA fees.