Friday, March 11, 2016

Planning to be a first time property owner. What is a method to compute expenses of a condo vs A smallhouse?


I am looking into purchasing a condo or a house: really at a modest price, i.e., $80,000 or so. It's only for two people, myself & wife, and no children past, present, or future.

What would be the best way to estimate monthly expenses comparing the two, for example, condo has Condo Assoc. Fees + taxes + mortgage. Also, condos where I'm looking are not the type that will increase in value as in highly desirable locations--San Francisco, NY, LA, etc. So, I guess the main issue is how to compare condo fees vs. Predicted monthly expenses on a house, which I know can only be a rough estimate, but there's also the factor of upgrading a house, which I think would increase its value more than "upgrading" a condo (there's only so much you can do with a condo). Or am I off the mark?

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