Townhouse

[Heel n Toe]

One piece of advice based on what I observed when my dad and stepmom moved into a condo; very often, it's not a good idea to get one that has two floors. As one gets older, it becomes more and more of an issue to have to traverse those stairs.

I guess that's why Del Webb goes with the one-story concept for many/most of the free-standing homes they build for retirees. It's just common sense. My wife's mom lived in one for awhile near Bluffton, SC after she moved out of her large, 2-story condo in Hilton Head. She loved that single story... she could buzz around that thing and had a ball decorating it and redecorating it, etc. She'd move fairly large pieces of furniture by herself, just taking things slow.

[aigel]

No way in hell for me. I have lived in apartments during college and that's all I needed to see.

If you want to down size, get a smaller house but keep a large lot (DISTANCE from your neighbors). If you don't like yard work, hire it out. It will be a lot less than your HOA fees and you are in control of your house entirely.

G

[Eric Coffey]

Just to pile on...

All things considered, I would pass on townhome living. Anytime you are sharing a wall (and/or ceiling/floor), there are bound to be issues eventually. The only time a condo/townhome makes sense IMO is for a second/vacation home (lock & leave).

Condo/Townhouse HOA dues can get out of control as well. As mentioned, you can also be liable for "special assessments" over and above your dues whenever the board sees fit to cover big expenditures (new roofs/paint for the entire complex, etc.). I remember an instance at one complex where monthly HOA dues were tripled (from $300 to $900) just to cover the loss of funds that a treasurer had stolen (this caused a couple people to lose their homes as they couldn't afford to pay it). So, at the very least, be sure that the HOA is solvent, and professionally managed with a good track record. Then be sure to read the CC&R's very, very carefully. Personally, I'd be looking at smaller detached SFR homes before considering any condo/townhouse as a primary residence.

If you don't mind sharing a wall, you may consider looking at duplexes instead. If so inclined you can live in one side and rent out the other. Some wouldn't want the headache, but it could be a nice way to reduce your monthly expenses, or even get to a positive NOI position under the right circumstances.

[jcommin]

After my divorce, I (we) let go of big house in the north shore neighborhood. My boys are grown. I moved into a 800 sq ft apt in Lincoln Park. Loved the neighborhood, the pace, the noise. What I didn't have was space: I had to rent a garage and a storage locker. Living there for 4 years, I decided to get more space so I am now in a town home. Like the space, like the quiet, like my neighbors. I got involved in the community association - we have block parties in the summertime and everyone looks out for each other as a matter of neighborhood safety.

I can tell you what I don't like: the stairs and location of the bathrooms in my unit. They are either on the top floor or the bottom floor. When mother nature calls, I not on either of those floors.

I'm a few years away from retiring and I'm thinking of a one floor plan.

[ckelly78z]

I'm not willing to take the chance of having to live 6" away from bad neighbors. Currently, I have no one within 1/4 mile of me and my 10 acres out in the country. On quiet days, it annoys me that I can hear thier voices or mower, but I know on 75% of my property, I could be out there naked for most of the day with no one knowing.

I am 50 years old now, and plan on owning this place for another 25 years, and maybe then, I might be more willing to be sociable in a neighborhood.......bu still no HOA.

[Halm]

I wasn't ready for a condo for 10+ years after our youngest graduated college and moved out on his own. So we stayed in a single family home those years.

But we move to VA last fall and found a new concept (at least for me) call a "detached condo". It is a single family home built on what I would call a zero lot line piece of earth. My only exterior responsibility is the roof. Every 5 years they even paint the house. I am 100% responsible for all interior issues. And my condo fees are less than yard maintenance I was paying in NC.

Finally as others have said, read the association documents carefully. They can easily make or break the deal.

[johnsjmc]

My wife and I sold our 2 story 4 bedroom home in the suburbs and purchased a 1000 sq ft heritage one floor home in the core area of our small city. We knocked out a wall between two bedrooms and now have an elegant small one bedroom house. Yellow brick built in 1904 with wide trim and 10 ft ceilings The lot is 40x240 and has a 2 car detached garage.
We can walk to a local grocery store and are only blocks from a small village area with resturants and a couple bars.
We consider it a condo alternative.
No HOA fees and we can hire yard work as we get older I am 64 , wife is 60.
We first were worried 1000 sf would be too small but it,s fine. As the baby boomers age the demand for giant houses has to wane.

[creaturecat]

We tried it.
It wasn't for us.
For me, too much "neighbourly" activity.
Plus, I like to do the yard thing.

The perfect corner unit, with privacy and a view-type rooftop deck, heated garage?
Maybe.

[Targa Me]

Thanks for all the input, everyone.