Are condos THAT bad of a value?

[rcpratt]

Is that first one labeled as condo really a townhouse? I think of condos as being like apartments you own.

I guess, but I don't really think it changes the fundamental questions.

I seem to remember Royal Oak being pretty expensive compared to Novi housing. Housing gets even cheaper in Wixom

If you are ok with Northville, Plymouth might be another good option. 275 can be a bitch (as I'm sure you know) but IIRC the area is pretty nice and I don't think it would add too much to her commute

I've lived in Royal Oak in the past and while I love the area, it is a fair bit more expensive than Novi. I expect Troy is as well. There are two main benefits of Novi/Northville to us: (1) proximity to both of our families, and (2) they're among the best school districts in the area. Anything farther west of getting off 96 at Novi road and I'd have to shoot myself.

I'm not opposed to Plymouth or even Canton. Schools are almost as good as Novi/Northville, wouldn't change our combined commutes much, and downtown Plymouth is fun. Just would need the right opportunity.

 

[vi edit]

I guess, but I don't really think it changes the fundamental questions.

I know what he's saying. Many people think of a "condo" as a unit amongst a dozen, if not several dozen or even hundreds of other similar units. Basically a multi-level apartment complex.

Townhouses/rowhouses/zero lot lines/ are different in that you usually get your own private entry, an attached garage, and usually some sort of front or back yard of "your own". Plus you only share one or two walls with someone, not potentially every wall, ceiling, and floor.

They still aren't "stand alone", "detached", or "single family" homes, but they aren't a traditional condo style either.

 

[vi edit]

I've lived in Royal Oak in the past and while I love the area, it is a fair bit more expensive than Novi. I expect Troy is as well. There are two main benefits of Novi/Northville to us: (1) proximity to both of our families, and (2) they're among the best school districts in the area. Anything farther west of getting off 96 at Novi road and I'd have to shoot myself.

I made the mistake of school shopping when I was younger. Mostly because everyone told me I needed to. Truth is that it's not always as important as many people make it out to be, especially if you are in the entry level homes, or smaller homes. Not everyone has kids, plans to have kids, or already had kids and want to downsize. For these people good school districts do nothing except make the property taxes more expensive.

Plus, if you aren't expecting/planning kids for a while then you are *years* off from even worrying about it. If you are planning kids, then you are at least 6 years off from worrying about it. Your kid is going to take almost a year to bake, and then has another 5 years before they are in the school system. By that point you are likely ready to move up from from your "starter" home and get into a larger house or something different.

I made the mistake of school shopping before I had kids and put myself into a much more expensive place, with a lot higher property taxes that I got nothing out of. Instead, I could have gotten a similar place for about 20% less had I moved to a place with a less desirable school district.

Sure there is resale value in mind, but there will always be a market for entry level/starter homes.

 

[Exterous]

snip

I have no idea if this is a general situation or something specific to the Detroit Metro Area but good school districts and quality neighborhoods go hand in hand. Really shitty areas with crap schools butt right up against nice areas with nice schools with not much in between. Sure you can get a much cheaper house in someplace like Taylor but I definitely wouldn't want to live there

 

[rcpratt]

I made the mistake of school shopping when I was younger. Mostly because everyone told me I needed to. Truth is that it's not always as important as many people make it out to be, especially if you are in the entry level homes, or smaller homes. Not everyone has kids, plans to have kids, or already had kids and want to downsize. For these people good school districts do nothing except make the property taxes more expensive.

Plus, if you aren't expecting/planning kids for a while then you are *years* off from even worrying about it. If you are planning kids, then you are at least 6 years off from worrying about it. Your kid is going to take almost a year to bake, and then has another 5 years before they are in the school system. By that point you are likely ready to move up from from your "starter" home and get into a larger house or something different.

I made the mistake of school shopping before I had kids and put myself into a much more expensive place, with a lot higher property taxes that I got nothing out of. Instead, I could have gotten a similar place for about 20% less had I moved to a place with a less desirable school district.

Sure there is resale value in mind, but there will always be a market for entry level/starter homes.

Probably a good point, especially if we go with two bedrooms. But what Exterous says is true too, I also care about living in a "nice" town. I probably had a bit of a silver spoon upbringing being from Northville, but that's just what I (and the gf) are. No desire to have a nice house in Taylor, Romulus, Monroe, whatever.

And yeah, it's going to be at least 10 years until we get to the point of the schools actually affecting our family.

 

[Red Squirrel]

You still pay taxes on a condo, but the taxes are far less than that of a house. The heating and cooling costs are much lower as well. You don't realize how expensive heat is until you try heating a house when it's -30. Fucking $100/mo just for heat. Then there's another $100 for electricity and another $100 for water. Fucking houses man. Expensive.

Oh ok figured it was the owner of the entire building, but guess it makes sense, if you own that part then you pay your own. So yeah guess the fees are definitely something to consider then.

And yeah heat can get expensive especially with an older house. I'm actually surprised I can keep my bill around 100 bucks, my house is fairly old and not the best insulated. I did fix up a lot of the heat loss locations though. I can't wait to see next winter to see how much I save with the new hvac control system I setup.

 

[notposting]

Renting:
$1250/mo for a 1000 sqft, mediocre quality, 1BR 1BA place.

Condo:
$1250/mo for a 1500 sqft, brand new, 2 BR 2.5BA place

Dang. We are at $850/rent in Plymouth/Northville (north of 5 Mile, Northville services, but postal address is Plymouth) for a townhouse, with something like 1000 sqft plus the basement, 2BR, 1.5BA.

Then again we are looking to buy maybe by 2014/2015. But out in the boonies

Yeah Birmingham and that whole area is a PITA to get to most of the time for me. Stuck slogging up through Telegraph construction.

Anyway good luck with it all...


edit: most of what I've seen called condo's around here are in the townhouse format...the apartment we are in is actually a townhouse as well.

 

[rcpratt]

Probably going to put a deposit on the condo/townhouse in the OP tonight. I'm scurred.

 

[Blackjack200]

Probably going to put a deposit on the condo/townhouse in the OP tonight. I'm scurred.

Good luck, I'm sure you'll be fine.