Skip to main content

Should I go for a SFH or townhome?

I have a townhouse that I’ve owned for 8 years (since 2014). I am looking to move closer to where my kids are, so although the market is tricky right now, I am a motivated seller/buyer.

My price range is around 400-500K. I am hoping to get a SFH , but I don’t really have enough money to get any new build SFHs or 2700+ SqFt SFHs (575K+ in my area).

My strategy is to try to get a SFH home that’s older and less SqFt. I am thinking something closer to 2000 SqFt and built before 2000. I am hoping for 4 BRs or 3BR with the ability to add or repurpose for another BR. Typically these older SFHs have bigger yards too (I have a few dogs). I have seen houses in this range in good shape go for around 450-475K, and that’s what I’m hoping to capitalize on. I am hoping the spring market brings more inventory that fits this mold because inventory is low and what I’m looking for is very specific.

My “Plan B” would be to get a townhouse in a slightly lower range. I am adamant about being patient for a SFH because I feel they are better long term investments and their value will hold and increase more likely over the years (even at these inflated prices) as opposed to a townhouse. Just with my specific requirements, I might have to wait a bit to find that house in the range i mentioned.

Does this strategy seem sound, or am I over exaggerating the disparity between a SFH and townhouse?

submitted by /u/Mikwelque
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/10kxklu/should_i_go_for_a_sfh_or_townhome/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more