Looks like I might be going about this solo...

[ScrimpAndSave]

Jim, that is totally what I could get around here too. I actually like these quite a bit:

The Enclave and The Reserve at KnobHill

But I feel like if I was going to buy a townhouse in order to buy a place the "feels" like a single family home...I should probably just hold out for the single family home.

Downtown living in a little condo is different because the environment is different.

[jIM_Ohio]

Scrimp-

do you feel like mowing lawns?
feel like fixing a roof?
weeding a garden?

I am NOT suggesting you do condo 1 (previous post) or the ones above (BTW- I really do like the one you posted above too).

Single people and condos get along real well. You could go out at night, be hung over on weekend and not have to worry about mowing a lawn or wake up to a neighbor cutting his.

If you get married or involved in 3-7 years, you could sell and more than likely the condo holds its value. The condo I linked to was sold for 179900 I think (I think that is what wife and I were asking). So in 5 years it appears to have held its value while the price of everything around it dropped 20% or more.

The condo will not appreciate much, but you will not lose much either (prices much less volatile).

[ScrimpAndSave]

Nah mowing a lawn sucks.
Fixing a roof...ehh in ten years maybe.
I do love gardening...even weeding.


Worrying that I am going to smell what neighbors are cooking? Gross.
HOA fees even though they include lawn, snow removal and garbage? Stinks.
Trying to keep noise levels down? What a pain.

I don't know. I know I could live in either one...and I know my current house (dad's house) isn't maintenance free, but it has been pretty much hassle free for a long time...

[jIM_Ohio]

I never smelled my neighbors in the condo shown. Neighbor to right was a semi retired 60 yo which worked on his cars in his garage and was always pleasent. I would not even here him shut his doors or run water and we shared a wall.

I don't even know if I had a neighbor on other side- that quiet.

Fisher homes built the condos and they put a 1" or 2" air space between the units to muffle the sound- that really worked well.

The utilities in condos, especially heating, is MUCH cheaper than a single family home. My electric bill tripled when we moved for example and my current house has gas heat where my condo was electric heat.

If you get an inside unit for a condo the heat bill is cheap.

[ScrimpAndSave]

That is really awesome. I hear a lot of people complaining about hearing neighbors and that scares me. Even in the nicer townhomes (like the ones I posted). I guess I just feel like if I bought something with shared walls, I would feel like it was just temporary for me.

[LivingAlmostLarge]

Scrimp, you could inherit all your dad's stuff anyway so why would you need to buy the house it goes into? He might give it to you anyway and how old is his furniture? Most condos have appliances. And how old are his appliances? You'll have to replace them at some point, unless then are less than 5 years old now.

And a larger home needs more maintenance and repairs period. There is no way around it. Roof? Bigger roof = more expensive. Just materials even if you do it yourself. Deck? Etc

So why do you need a single family home for just you? How much stuff you do have?

It sounds like you are thinking I'll get a home that's furnished with my dad's stuff so it's a great deal. You aren't stepping back and asking yourself financially and emotionally, do I want to deal with all this stuff?

Will I like his furniture? If it's already 20 years old, will you want new stuff? How do you know your heating bills are comparable to a newer home that has better insulation, new storm windows, etc?

When I move into my next home, a single family home, I will be installing solar panels, tankless water heaters, more insulation, new windows, etc. I plan on it being my final home.

But I am having kids and dogs. I need more space than my 1 bedroom condo could have afforded. And my townhouse now is perfect for us and 1 kid maybe 2, depending on the parents and in-law situation.

But I haven't spent much updating and doing energy efficient solutions because I know I'm not staying. Will you do these things to your dad's home?

You have asked us how to save for the home before you broke up. And Jim has said you can't see the forest from the trees. Same thing with this house babe.

What do you really need? Where do you think you'll be in 5 years? Do you ever want to get married? Would you consider marrying someone who is divorced with stepchildren even if you don't want kids? How will that affect your lifestyle?

Would you be unhappy if you meet someone in 5 years and they wanted to move to a different home. Didn't like the home you were in? What if they have a house they love and want you to move into?

These are all questions that cannot be resolved quickly or easily. Consider long term prospects and goals before just leaping into "i'm getting a deal for my dad's home".

[ScrimpAndSave]

Livingalmostlarge,

You are right. I can't answer all of those questions. I have three brothers and sisters, so I won't inherit everything.

Other choices would be:

MLS

MLS

MLS

MLS

MLS

[jIM_Ohio]

S&S-

My comment would be do the condo. My wife suffered from what I call "never lived alone" syndrome. She always had mom their to pay all the bills, do the laundry, cook food, buy food and take care of more details than I can list here. If you go right from living with dad to living with BF or husband, I can tell you there are SOOOO many things you will need to learn about getting used to your own habits plus those of a SO.

It took a LONG time to break her of old habits or teach her new ones. In some ways it is still a work in progress 8 years later. If you live on your own now, even for 6-18 months until next SO comes along, you will at least learn your own habits and what is important to you.

If you get a condo that is something YOU would be doing to teach yourself things YOU do not know and improve YOUR financial situation.

Maybe in 3 years you decide to sell the condo and buy dad's house. Would you actually lose anything if this were the case? Maybe time, I could not see you losing money (you might not make any money, but I think most you would lose is about $2k in closing costs or maybe $5k-10k in a bad real estate market. Best guess is the tax benefits make even a 5k loss a wash.

I don't think anyone gets a condo expecting to live in it for 30-60 years.

You would get a tax deduction in the meantime (more for you to learn) and also be more independant than you are now (it's sink or swim for you in the condo).

Size does matter- if you plan to move out first opportunity, get a smaller condo for just you. If you'd like to live there for 10 years, get some room (like a second bedroom) included in the townhouse/condo. This way if next BF moves in, you have room for more stuff.

The 179k price you saw on the condo we used to own could have bought us a single family home in same zip code. We chose to NOT go that route because of the hidden single family home expenses (mowing lawn, roof/house repairs and similar), plus the location of that condo kicks butt (real close to interstate and walking distance to shopping).

LAL last post was quite good too.

[ScrimpAndSave]

I think the smaller place in Bethlehem (the ones I posted in the beginning) would be fine for just me. I know I would be sacrificing square footage...but I would be able to walk to so many great places to shop/eat etc. The other townhouses and condos...though they are cute...they are in residential neighborhoods. I wouldn't want that if I was going to move into a condo out on my own.

Of course, I am not going to jump on anything right now. I can wait until this summer and start looking seriously if I want to. On Sept. 1st, my salary goes from 55k-65k and I will have approx. $30,000 saved up. I could use $20,000 as a 10% downpayment on a place and still have $10,000 saved up to furnish it...and the mortgage would be low enough that I could still send money to my roth and have money left over to save.

It's just a thought. I will keep my eyes open.

[DebbieL]

The fifth one you posted looks nice. That and the fourth one are my favorites out of the ones you posted.

[ScrimpAndSave]

Debbie the good thing is, is that there is a huge market for these places around here. We have a lot of young families and young professionals...so I think the turn over is pretty good and so it the amount of inventory.

[ScrimpAndSave]

I like this one:

MLS

[mommyof4]

Originally Posted by ScrimpAndSave

Actually, I love this one:


Lehigh Valley Real Estate

That's beautiful!

[ScrimpAndSave]

I thought so too. My dad would argue that for $160k-$180k, I could have a cape cod or ranch that needs updating...but it would be a detached home.

Maybe I should just live at home with him forever. lol.

[ScrimpAndSave]

Oops that was the wrong link...here is the right one:

MLS

[jIM_Ohio]

Originally Posted by ScrimpAndSave

I thought so too. My dad would argue that for $160k-$180k, I could have a cape cod or ranch that needs updating...but it would be a detached home.

Maybe I should just live at home with him forever. lol.

Don't let a family member suggest "you can do better", or "you need a SFH".

That is part of the "living on your own" thing I was talking about. If the decision is good for you, then you need to do what is right for you.

Your father might be capable of mowing a lawn. Your father might be capable of patching the roof. Your father might be capable of changing his own oil in the car. That does not mean you need to fit into that stereotype.


First time my parents visited my town house, I heard my father mention he wanted to buy a house just like it when he retired. I didn't need his approval, and he's no house expert, but he could see the good gig I had (no maintainance).

[ScrimpAndSave]

Jim,

You are right. I guess I worry about my dad being alone, too...I mean he is in wonderful health and TOTALLY self sufficient...but I know that my rent does help him with the taxes that he pays on the house.

I guess I should at least wait until the summer before I decide to do anything...so I know I am through some of this grief.

[tripods68]

Break up is hard enough without adding it more.

Usually it takes about 1 year or more for anyone to recover on major breakup. I had several of those myself in early and late twenties. I remember not dating for over 1 year, and just focused on my work. I think you shouldn't worry about "how much house you can afford for now" until you arrived with a solid financial plan and mental footing. You are saving and working. So i suggest to continue the journey until if and when you are ready to start a brand new relationship.

[Wink]

Scrimp&Save,
I am much older then you, but I am single (divorced, no kids) and I purchased an older but renovated townhouse in the city. Very urban environment. I can walk to lots of restaurants, the grocery store, shops, etc. I can hop a bus or get a cab to take me into the heart of downtown to the stadiums for football and baseball games, theaters, comedy shows etc

I love my home. Hardwood floors, high ceilings, exposed brick, rooftop deck (very cool). It has a lot of the charm of an older home but with all the modern amenities. Very low maintenance and no HOA fees.

Can I hear my neighbors on both sides of me? Once in a while. But the great thing about living here is that I know all of my neighbors. It gives me a great sense of comfort and security to know that if I have an emergency, they will help me in a hearbeat. We get each other's mail when on vacation, we gather on our front "stoops" in the summer to chat, we have block parties and potluck dinners. My block ranges from young singles, to young married couples, to middleagers (like me) to retired folks. We all get along and respect each other.

I exercise my green thumb by container gardening, and have a lovely back courtyard with climbing roses and even a small veggie garden. It's like a little oasis in the middle of the city. But I don't have any grass to cut

The only cons are: my property taxes are higher then in the county, and street parking. But most of the time I don't even move my car all weekend, I have so much to do in my own neighborhood.

I guess I just wanted to give you a snapshot of how urban living can be. It's not for everyone, but for a young professional like you, it can really be a very fun lifestyle. Whatever you eventually decide, take your time and have fun looking!

[Joan.of.the.Arch]

Scrimpandsave, somewhere recently you said you are a homebody and do not go out much. You also said you love gardening, even pulling weeds. In looking at houses online you sometimes were sorry to think you might only get into a small Cape Cod style for your first home. Given all that, why would you be now considering a small urban condo in the middle of an entertainment/former warehouse district? Are you hoping to start a new life?

I suspect you do just need to move somewhere, anywhere else to begin to get some ideas about what you do and don't like or want. You'd probably be happy enough in a variety of places, as you are open to considering everything under the sun. Given that, there might not really be an ideal place for you. You could be happy with a lot of different ones.