HOUSE vs CONDO

[krazynammer69]

so i am deciding whether or not to buy a condo downtown or a house in hawkwood. Price is the same

i have two small dogs, and my g/f which will move in with me

[2.2vtec]

A lot of condo's downtown will not allow pets. If they do you have to be careful cause even in a concrete building other units on the same floor would be able to hear loud dogs barking.

I would say house but hawkwood is an outdated nw area.

[barmanjay]

some monthly condo fees are high,.. not worth it imo,.. especially with 2 dogs.

maybe better off taking on the responsibility to maintain your house and yard, instead of paying 3-500/mo for someone else to do it at a condo.

[BerserkerCatSplat]

Originally posted by barmanjay
some monthly condo fees are high,.. not worth it imo,.. especially with 2 dogs.

maybe better off taking on the responsibility to maintain your house and yard, instead of paying 3-500/mo for someone else to do it at a condo.

There are benefits to condo ownership, I don't have to pay for my roof being replaced this summer, I don't have to pay for my fence to be replaced next year, I don't have to pay for my siding to be redone, etc. If I were you OP, I'd honestly just consider whatever fit my budget/lifestyle/locational needs better.

[Alterac]

When you live in a condo, you are paying for those things, in what is commonly known as a Condo fee, which, you dont have to pay in a house..

Plus if they decide to 4x the Condo fees, your fucked. I hated condo living.

House in Hawkwood for the win. Its nice well tree'd area with older style houses (aka, built with care, not with speed).

[BerserkerCatSplat]

Originally posted by Alterac
When you live in a condo, you are paying for those things, in what is commonly known as a Condo fee, which, you dont have to pay in a house..

Plus if they decide to 4x the Condo fees, your fucked. I hated condo living.

House in Hawkwood for the win. Its nice well tree'd area with older style houses (aka, built with care, not with speed).

Obviously, yes. My post was intended as a counterpoint to the idea that condo fees are a ripoff - and they can be, depending on whether the condo board is crazy or not. Another upside is that the volume of work done on a condo job is much higher and thus the per-unit cost goes down, making it cheaper than doing it yourself, and with less headaches.

I'm not sure why a board would increase fees 4X, that's whacked. I'm a board member in my condo association and we only raise fees if absolutely necessary. Proper money management goes a lot further than just charging higher fees.

I love houses, but sometimes condos do make sense, especially if you want to live near downtown. It's all about priorities.

[project240]

For the same price, you probably get a house twice the size, most likely with a garage in hawkwood vs the condo.

We live in Hawkwood and I love the community.

[98type_r]

With another 9000 or so condos set to hit the market in the next couple of years think about what that will do to resale value. House ftw!

[krazynammer69]

do u have to pay property tax still when u live in a condo?

[UndrgroundRider]

House all the way. Dealing with loud neighbors is hard enough in a house.

I've lived in condo's, four plexes and houses. I will never go back to shared walls/floors, ever. The issue isn't so much that other people are inconsiderate, it's that you're so restricted in your own house. I personally am a bit of night owl, and spend a good few hours awake while most sleep. It really sucks when you have to spend that half a day in almost complete silence.

I enjoy the freedom of being able to entertain when I want, and at whatever hours I want.

Plus taking your dogs out on a leash down who knows how many floors twice a day SUCKS. Compare that to just kicking them out in the back yard and letting them do whatever they want. No brainer if you ask me.

[krazynammer69]

i was gonna buy a mat for dogs to do their thing on
and dont some condos have good sound proof walls

[HRD2PLZ]

Originally posted by krazynammer69
do u have to pay property tax still when u live in a condo?

Yes. Property taxes will still apply for condominium living. Be it an apartment style or townhouse.


You have to be careful with pets in buildings. If you end up looking for a condo, make sure you pay special attention when going through the By-Laws. Many condo boards do not allow pets, especially in the downtown high rises. I would personally go for a home over a condo by the sounds of your situation. Condo living isn't for everyone, but it can be really enjoyable. That being said though, living in a house isn't always for everyone either.

Trust me, with dogs living in a home will be much easier.

[Xtrema]

Unless your dogs weight 2lbs soaking wet, confining them in a tiny condo without a yard is just plain cruel.

I doubt many condos will allow dogs and chances that you probably don't want to live at the ones that do.

Just get a house.

[Davetronz]

I used to own a condo in downtown Calgary, now I own a new house in SE Calgary. I'd never go back to downtown/condo life ever. I'd probably never want to have a dog in a condo down town either. We dog-sat for my fiance's parents for a weekend and it was really hard to always be taking the dog downstairs and outside to find grass.

Condo's subject you to so much bullshit. You have crappy neighbours you can hear through your walls, you have dirty parkades, hauling groceries and stuff up elevators, condo fees, downtown noise/parking, etc.

With a house you have more room, probably less cost than condo fees, property taxes (at least for us) are cheaper. Your neighbours are further away. Hawkwood isn't a bad area. I grew up in Edgemont and I miss it. The only thing I can warn you against is having a yard to look after and house maintenance that might have otherwise been covered under a condo management fees in a condo building.

[hadookin]

All of the builders advertise a lifestyle... well, it really is. if you like to be able to change your own oil, rotate your own tires, don't want to store your bike, hockey gear, golf clubs, skiis, tools, etc, etc, in a closet or 'storage locker' then a condo is not for you. If you like having a bbq in the summer where you and your guest may drink well into the night and be a little noisy then a condo is not for you.

However, if you want a brand new place with a lot of modern ammenities, style, luxuries, the ability to choose your own finishings and floor plans and don't have $500,000+ to spend then you may consider a new condo.

If you are comparing a house to a condo then the type of house in your price range is going to have a leaky faucet, some scrapes on the walls, some worn out spots on the floor, or an inefficient furnace.

Most people here are bashing condo living, but it's really a lifestyle choice...




btw, I own my own house with a double garage and 4 car driveway and would NEVER live in a fucking apartment! bahaahaha:goflames:

[cmyden]

A lot of people (including some in this thread apparently) think that a condo = apartment.

A condo can be ANYTHING, from a tiny apartment to a 3000+ square foot dwelling with a triple car garage.

For example, I live in an 1800 square foot townhouse condo in the inner city, with an attached garage, fully developed basement, etc.

Personally, I love it, but since there is a shared wall you'd definitely want to make sure it was well designed. I know that in my townhouse I never hear a single thing.

I've also asked my neighbors if they've ever been able to hear my home theatre (which is often cranked quite loud) and they've never heard a thing.

I also love never having to take care of a damn thing, leaving me free to travel, take off on weekends, etc, but that's a lifestyle choice.

The point I wanted to make is that when you say 'condo' you should specify exactly what kind of dwelling you're talking about for a better comparison.

[Xtrema]

Originally posted by cmyden
The point I wanted to make is that when you say 'condo' you should specify exactly what kind of dwelling you're talking about for a better comparison.


Originally posted by krazynammer69
so i am deciding whether or not to buy a condo downtown or a house in hawkwood. Price is the same

Is there any townhouses downtown with single attached garage?


Originally posted by cmyden
I also love never having to take care of a damn thing, leaving me free to travel, take off on weekends, etc, but that's a lifestyle choice.

Misconception. If you really want to, you can always hire someone to mow the lawn and remove snow for your house. That's where most of your condo fee goes anyway.

Most condo fee only covers exterior maintenance anyway. Unless you buy a really old place, how often do you need roof and exterior replacements?

And on top, you are not tied to any stupid condo committees who decides to raise condo fee to pay for unnecessary exterior renos or any stupid rule that forbids any exterior modification or dish hanging. And god forbid if you're in a old apartment building with elevators that need fixing.

[spikerS]

I will never ever not once own a condo. NEVER! with condo fees and your mortgage payments, you are way too restricted, and more often than not, paying more to live in a condo.

I don't like to be told that I can't work on my car, or that my family can't come stay with me for a week, or that i have to apply to buy my kids a cat or dog, or that my car can only be '04 and newer, and only in certain colors. Most of my close friends bought condos all over the NW and SW in the past 5 or so years, and ALL of them regret it. Condo boards are way too restrictive, and even though you own your property, an outsider will tell you what you can do with it, even if you want to paint your bedroom blue instead of yellow.

[topmade]

Originally posted by cmyden
A lot of people (including some in this thread apparently) think that a condo = apartment.

A condo can be ANYTHING, from a tiny apartment to a 3000+ square foot dwelling with a triple car garage.

For example, I live in an 1800 square foot townhouse condo in the inner city, with an attached garage, fully developed basement, etc.

Personally, I love it, but since there is a shared wall you'd definitely want to make sure it was well designed. I know that in my townhouse I never hear a single thing.

I've also asked my neighbors if they've ever been able to hear my home theatre (which is often cranked quite loud) and they've never heard a thing.

I also love never having to take care of a damn thing, leaving me free to travel, take off on weekends, etc, but that's a lifestyle choice.

The point I wanted to make is that when you say 'condo' you should specify exactly what kind of dwelling you're talking about for a better comparison.

OP is saying a Condo downtown so that would mean apartment style.

Like most others have said, it's about your lifestyle. I know a lot of people who love living downtown. But IMO house FTW, so much more you can do, but I have kids, so my opinion is biased.

[rc2002]

Keep in mind that you don't actually own any land when you buy a condo unit.

Regardless of location, when your building gets old and in need of repair it will be worth less than when you originally bought it. That's assuming a normal market - the market in the last few years can make people think otherwise.

[R!zz0]

I live in a condo...Buy a house man. There are lot's of rules you gotta follow when you're living in the condo. I'm thinking of moving out soon. I'll miss not cutting the grass, shoveling the snow and shit like that though.

Edit: They keep raising the condo fee as well :(

[SilverRex]

how bout townhouses? is that no different than condos? since your still paying a monthly maintenance fee.

[R!zz0]

^You'll still pay the fees.

Trust me man, go for a house. You'll have plenty room to park your car or cars, you don't have to worry about running downstairs when your car alarm goes off (No underground parking)

My neighbour just got charged $100 bucks for having chairs on his balcony...You're supposed to have "Lawn chairs" only :eek:

[civic_rida]

Curious where you park all three of your cars since you live in a condo

[Xtrema]

I would only buy condo as a rental. Even if it cut into a bit of profit, you never have to worry about tenant not taking care of the exterior and get complaints.

[R!zz0]

^ I'm renting one stall from this old lady who doesn't drive.

[B20EF]

Where I work was important for me. I love being home in a matter of minutes versus sitting in rush hour traffic. I also love having every amenity within walking distance - the train, restaurants, pubs, my work, any store.

It can feel dangerous though and I don't let my girl go out alone at night.

I really miss having a garage, a backyard with grass and a little more freedom.

Those who said a house is cheaper for bills, I think you're on crack. Condo fees pay for heat, water, sewage, building upkeep, reserve fund, electricity in all common areas. What do you guys with houses pay in heating alone each month in the winter?

[Xtrema]

Originally posted by B20EF
Those who said a house is cheaper for bills, I think you're on crack. Condo fees pay for heat, water, sewage, building upkeep, reserve fund, electricity in all common areas. What do you guys with houses pay in heating alone each month in the winter?

Not all. Apartment style condo fee usually include it because they all share the same system anyway. Townhouse style is same as a single house in term of bills. My townhouse which is 1/2 the size of my home is only 30% less in utilities cost.

You pay less because it more efficient to heat tighter units.

But you also have to pay for, like you said, "building upkeep, reserve fund, electricity in all common areas". Now that's something your are FORCED to pay regardless of the condition of your unit. Something you can put off paying in a house until you really need it.

There are many condos with dangerously low reserve fund and force occupants to pay. One condo in Hamptons jump from $200 to $450 a month because they are replacing the roof from cedar to tiles. This cause mass exodus and rapid drop in property value. That's the kind of shit you have to deal with/take in a condo. You have little control unless you waste time getting into politics of the condo committee.

[B20EF]

In your townhouse I'm sure it's not much cheaper but I think it was established he meant apartment style ant hill like I was referring too.

You just have to careful when shopping for condo's with the reserve fund. Just read those condo documents thoroughly.

With the OP's dogs and cars though I vote house. I can't wait until I can afford a house.

[barmanjay]

Originally posted by B20EF ....

With the OP's dogs and cars though I vote house....

would suggest a house with a fenced backyard and at the very least, an oversized single garage

[88CRX]

When I was looking for a place to buy I wanted a house with my own garage (can't even change your wheels in an underground condo parkade). However since Calgary is fucked.... and a decent house w/ garage is $400k or more I settled for a townhouse.

Best of both worlds IMO.

I get a garage and I also don't have to deal with yardwork. I'll have minimal condo fees (landscape & snow removal only) as all my utilites are metered separately from other units.

[R!zz0]

Can't even have a satelite where my parents live, my area you can as long as it's on a tripod.

[Mitsu3000gt]

Condo's definately have their advantages convenience-wise, but I could never live somewhere where I shared a wall/floor with someone else. Watching movies, listening to music, having parties, having pets, multiple vehicles, storage space, etc. etc. all becomes an issue with condo ownership. Also I know a couple who all of a sudden was forced to pay $15,000 (along with everyone else in the condo complex) to do some major repairs - I don't know the exact details, but it certainly caught them by surprise. You definitely want to understand how the condo board operates.

My brother lives in a condo downtown and loves it - it totally depends on your lifestyle. If you work downtown, not having a commute is pretty amazing considering Calgary Transit is perhaps the worst in the entire world, but you do give up a lot as per the reasons I stated above. Completely depends on your lifestyle. If your quiet, lazy (read: don't like yard work and whatnot), don't have big pets, don't party late, don't like watching loud movies, etc. and don't like commutes then maybe a condo downtown is good. If you still like to party, have larger pets, want a back yard, big garage, etc. etc. then I'd go for a house.

[Diesel2005]

I recommend buying a house in Hawkwood. Great neighborhood, nice people. Has bus routes and new ctrain station opening in September.

[Akagi Redsuns]

It's hard enough to avoid inconsiderate neighbors, but when you share a wall with them, it just sucks that much more.

I'm in a townhouse right now but will never ever live in a condo again when we get ourselves out.

[Xtrema]

Originally posted by B20EF
In your townhouse I'm sure it's not much cheaper but I think it was established he meant apartment style ant hill like I was referring too.

You won't be paying $200/month condo fee. Apartments that include utilities will cost around $350 minimum for a 1200 sq ft unit. Say $150 goes to the utilities.

I can tell you that a house 2x the size with 6 people is about $300 in utilities (excluding electricity). So it's about the same too.

And unless you bought a fixer upper, $2400/yr that would have gone to condo fee is quite a bit of cash to spend on fixing a house.

Condo is mostly about affordability because of the low payments. But in scale, a house offer more for the same cost.

[civic_rida]

I hate the fact that 2 parking stall condo's are so hard to come by.

[project240]

OP, why not post the details of each place...

Sq ft, year built, etc.

When you say a house in Hawkwood are you looking at something 1200 sq ft or 2000?

When I was renting, I lived in a townhouse, apartment, duplex and condo... I think I hated every one of them. Now being in a house, I'd never do back. For me I love having a yard, garage and my own space.

[TACO.VIDAL]

Its all about lifestyle.

When I started my career I was living in downtown Toronto and I bought a condo. I worked long hours and was in the office on many weekends.

Owning a condo let me live very close to work. The commute was easy. The condo meant I had little in the way of worries. I had no time to take care of a yard or maintenance of a house.

I travelled a lot both for work and for pleasure. With the condo I never worried about being out of town for a week or two. It was a secure building with a 24hr security guard on premises. I had no worries about leaving the place unoccupied for that long.

It was also great for life in general at that time. Close to work. Walk to the gym. Close to tons of restaurants, pubs, bars, shopping. A house with these ammenities would have cost several times as much as my condo and would have been unaffordable at that time.

Today, a few years later, I enjoy living in a house. I dont go out as much. Ive moved along in my career and dont work as many long hours. Its nice to have space for all the toys. Its nice to have a yard. I dont mind doing yard work and taking care of trees and a garden.

Think of your needs and choose which suits you best.

[Amysicle]

For the OP, I'd recommend the house in Hawkwood because of the details he gave. Yes, your dogs are small, but it does seem rather cruel and inconvenient to have them in an downtown condo where there might not be a lot of green space for them to run around at any time of the day.

I had a co-worker who tried to sell her condo townhouse in the middle of 2007, but in the process found out the lady collecting the condo fees and running the condo board didn't have insurance for the entire place so her realtor refused to list the property. She and the other condo owners were getting ready to sue the lady because she was refusing to get insurance even though they were paying for it with their condo fees.

[barmanjay]

Originally posted by Amysicle
.....found out the lady collecting the condo fees and running the condo board didn't have insurance for the entire place so her realtor refused to list the property. She and the other condo owners were getting ready to sue the lady because she was refusing to get insurance even though they were paying for it with their condo fees.


That sounds like a terrible situation :(

[Delbert]

When renting a condo, who is in charge of paying the monthly condo fee, the tenant or the landlord?

[joefufu]

landlord is responsible for paying the condo fee

[Amysicle]

The owner should be in charge of paying the condo fee. After all, if the tenant fails to pay the condo fee, or there is no tenant for that month, the responsibililty would still fall back on the owner, right? That being said, in this market the owner is probably able to get away with charging amount of the condo fee plus the mortgage as rent.

As for my co-worker, I think threatening and going through the motions of a lawsuit really got the ball rolling and I think the situation has been resolved. But it really made me think about whether the convenience of having things taken care of for you is really worth it if there are shitty people handling your money.

[Xtrema]

Originally posted by Amysicle
But it really made me think about whether the convenience of having things taken care of for you is really worth it if there are shitty people handling your money.


Bingo.

[Delbert]

So on top of the rental fee, the tenant still pays for the monthly condo fee? That's too much i think.

[aypi]

Originally posted by Mitsu3000gt
Also I know a couple who all of a sudden was forced to pay $15,000 (along with everyone else in the condo complex) to do some major repairs - I don't know the exact details, but it certainly caught them by surprise.

:werd:

my friend needs to pay $30,000. good thing they've been there for a while so they dont have a choice but to remortgage it. it will suck if they just bought it and they dont have any equity.

[gqmw]

hawkwood house ftw
if it's it the same price, you'll definitely feel more spacious
and feel like you have more private space with your own lot.

[TomK]

Originally posted by Delbert
So on top of the rental fee, the tenant still pays for the monthly condo fee? That's too much i think.

The tenant doesn't pay the condo fee any more than they pay the mortgage or the taxes. The price of rent is set in the market and may or may not cover the expenses outlined above.

That said, I guess there is no reason in principle that you couldn't agree to rent a downtown condo for "$800 per month plus pay the condo fee, the property taxes and 1/2 the mortgage interest".

On rentfaster I haven't seen any adds for condos that say you are responsible for the fee.

[Xtrema]

Originally posted by aypi


:werd:

my friend needs to pay $30,000. good thing they've been there for a while so they dont have a choice but to remortgage it. it will suck if they just bought it and they dont have any equity.

Must be that Edgecliff place where the repair bill is $10M.

http://www.canada.com/calgaryherald/news/city/story.html?id=33db1ebe-90ba-4d28-b8e0-a2b84dc4bd6a


Min Du, who bought a two-bedroom unit at Edgecliffe Estates last May for $265,000, said she's been told to pay $46,000 by the end of May 2009 to cover her share of the tab.

"I couldn't sleep the whole night" after finding out, said Du, a systems analyst. "I might move out."

[Grogador]

house ftw

also, for the love of God, do NOT buy Pointe of View anything!

[aypi]

Originally posted by Xtrema


Must be that Edgecliff place where the repair bill is $10M.

http://www.canada.com/calgaryherald/news/city/story.html?id=33db1ebe-90ba-4d28-b8e0-a2b84dc4bd6a



i think thats it, all i know is its in the NW area, not sure which community.

[Delbert]

Originally posted by TomK


The tenant doesn't pay the condo fee any more than they pay the mortgage or the taxes. The price of rent is set in the market and may or may not cover the expenses outlined above.

That said, I guess there is no reason in principle that you couldn't agree to rent a downtown condo for "$800 per month plus pay the condo fee, the property taxes and 1/2 the mortgage interest".

On rentfaster I haven't seen any adds for condos that say you are responsible for the fee.

So if you buy a condo, you pay for the monthly mortgage, pay for the monthly condo fee, you'll end up earning not much money if you rent it out. Right?

[Xtrema]

Originally posted by Delbert
So if you buy a condo, you pay for the monthly mortgage, pay for the monthly condo fee, you'll end up earning not much money if you rent it out. Right?

Less than a single house for sure. The market determine what rent you can charge. It's up to the landlord to decide if the profit/loss is worth it.

For example,

A 1200 sq ft townhouse with a garage is about $280K. As a rental property you'll need 25% down to minimize cost. So you'll have a $210K mortgage. Mortgage payment would be around $1200 (can be more or less depends on the mortgage). Condo fee is usually just south of $200.

So to break even you'll need to charge $1400 on rent. If you charge more, you'll have + cash flow. If you charge less, although you have - cash flow, you'll still make a bit of money as not all $1200 goes to interest. About $300 of your monthly mortgage will go toward equity of the house.

Now the sweet spot for rent right now is around $1200-$1600. Over $1600, your clientèle will start to trail off, as people will tend to buy or only stay in short term. Under $1200, you'll start to have some undesirable tenants.

The bonus about renting out condo is that people who rent mostly don't like to do yard work or shuffle walks. Renting out single houses may cause some headaches if tenant is not good on the up keeps.

And if you think landlord has it easy, you're dead wrong. One wrong tenants can cause 10s of thousands of damage. From broken appliances, concrete into toilets to molded grow ops, I've seen it all.

As rent goes up, sublet goes up as well. There was a house in my neighborhood that is about 2700 sq ft. Rented to a couple with a nice bimmer. They in turn sublet to I believe 2 families who I believe works in constructions. The 3 ancient F250s are leaking oil every where. After 2 month, there is a shit load of mud built up all over the front yard and driveway. The place is totally trash and I don't even want to see what the interior looks like. Sure enough, they were kicked out on first inspection from the owner months after but the damages are done.

Landlord money ain't easy, especially people who only got into it the last 2 years.

[krazynammer69]

ya i think i am pretty sure i will get a house but is a smaller house in Cresent same price worth it compare to a bigger house in a nicer area like hawkwood
i just wanna live near downtown

[Barlow]

Lotts of Haters on here!!!!!!


WOW


I guess you get what you pay for.

Check the build date and the builder,

if you don't then you deserve to be screwed!!!

[2.0turbo]

Originally posted by BerserkerCatSplat


There are benefits to condo ownership, I don't have to pay for my roof being replaced this summer, I don't have to pay for my fence to be replaced next year, I don't have to pay for my siding to be redone, etc. If I were you OP, I'd honestly just consider whatever fit my budget/lifestyle/locational needs better.

Yes you do, you have to pay for your roof and fence getting fixed every month. Thats what your association fee's are for.