Tru
Check out your area - things like what are the percentages of foreclosures in that area? What age group, what type of places are foreclosed on the most (country records should tell data).
See how long others have lived there, age group that are there - mixed - middle, young and very elderly but spry ...And other type interests in the area that keep them there or cause people to move on???

My mother bought a condo two years ago and it has been the best move for her!

It is a mixed age group...and there are areas for her to walk her dog..she has her own patio and grass area in the back...and the place takes care of all outside workk, etc. She really enjoys it!

Be careful of the Association dues on Condos. They tend to increase. Townhouses I dont think have Association dues.

The HOA's can be high at times and you will pay for services you may not use such as a club house or a fitness room. Some condos sre gesred to spacific age groups. There are advantages and disadvantages to condos, but this is something you will have to see for yourself. Also consider whether or not the facility is soundproof. Nothing like hearing your neighbors at all hours.

Maggie

It depends on the type of condo you buy. My mothers is townhouse style.....it is two story and attached to two others.

They do not have a a pool, tennis courts, or fitness room. She knew she would not use these and did not look for them when purchasing.

She pay about $150 a month in condo fees. This covers insurance for the outside of the building..anything outside is taken care of by the association...roofing, etc snow removal, mowing, weeding, flowers plants in front yards and general areas, etc. She is free to plant and decorate as she wishes in the back of the condo.

Yes, condo fees can be high..and we are in the South so they may cost less here. But, considering she was paying double the condo fees for having her yard work done each month except winter..and had to do her own snow removal and shovling..they even saltt the roads for the residents.

I own a townhouse, Tru, and have been here for 17 years, and on the Board of Directors for 15. Alll I can say, is - people are freakng out there! As VP/Secretary/Treasurer over the years, I've threatened, pleaded, partied with my fellow owners. As a widow, I've padded over in jammies and sobbed over friends' dining room tables. As irritating as it can be, it's also pretty ok to be close and look out for each other. I don't know, did that even address the question??

I have moved to a new 55+ community, but am just renting for now. There are condos available for purchase, and someday, if it would benefit me financially, I might buy one. Renting, however, will give me time to become aquainted in the area and decide if this is for me. When you purchase, as you probably already know, you are so much more tied to it. You can't move nearly so easily. Good luck with yoru decision.

Condos can offer you a sense of community. You pay HOA for the ammenities so they should be a consideration. I would avoid apartments that have been converted to condos because of the soundproofing. I would also want to know how many condos are occupied by owners vs renters. Having the time to compare and research you may also find that you can get quite a deal looking into short sales or forclousers. Find yourself a good realtor and have her show you a few to get the feel. Nothing like seeing for yourself rather than wondering.
Best of luck in your decisions..

I'm looking into moving into a condo nearer to my grown children. Good tips y'all...thanks! I will have to keep the HOA dues in mind while shopping.

I thought about going in that direction. Just don't like the idea of monthly fees. You may have one fee quoted to you when you buy then they could turn around and raise the fees.