A CONDO OR A HOUSE? ?

[Adam_G]

I am starting to make long term plans for real estate ownership. After I get my credit in line and a down payment secured, I was thinking about buying a place, and renting it out. Is it better to start with a condo or a house. What are benefits or drawbacks?


This is assuming that the real estate market comes back within the next few years

[SKFS]

For a first time investor I would suggest a condo as it is much easier to keep up.  Condos also generally cost less and are therefore easier to rent out since you can offer them for a lower rental price than a home that is comparable in size.

[Hey__it_s_me_]

depends on the location you are looking at. houses and condos both attract specific types of people. if you are in a market where condos are hot and there are plenty of people that would move into them, like young professionals, older people, etc. go for it. if you are in a suburban area where it's mostly families, then obviously a single family house would be a better idea. it really depends on your location.

[KaylenShea]

Although I am 13...   :] I would reccomend* a Condo for starters...! Just so you can get settle, then when your financially* covered start searching for a house big enough to fit your needs...! kay?

[tyleraimee]

If you are planning to rent, then a condo is a better choice. Most of the maintenance is taken care of by the association. However, your first priority is to find something that has the best chance to appreciate in value. I would seriously consider a 4 family building. You can live in one unit and rent out the other three. The three rentals will most likely pay for the majority of your mortgage. After two years, move out and buy another one.

www.dreamhomefinancing.com