| Q:
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Why would I choose a town
house or condominium over a single-family home?
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| A:
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Some folks opt for a
townhome, (also called townhouse - spelled also as "town house" or
town home"), because you can often get the same square footage for a
bit less money. The reason; you're not buying as much 'lot' size.
If you're not necessarily
after a large yard, a townhome could be a good choice.
That being said,
sometimes you get more yard with a townhome because instead of paying
for the lot, you share the cost and thus share a bigger lot. Of
course, that depends on the townhome project that you're interested
in.
Another advantage is
that the yard work and snow removal is almost always taken care of for
you with condominium townhomes; paid for by the HOA fee. So if you're
tired of doing yard work, a townhome may be something for you to look at.
A disadvantage to
buying a townhome may be that your neighbors may be a bit closer than
what you're used to.
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|
Q:
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Are
there condos and townhouses in Midvale Utah for sale?
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| A:
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You certainly can have a
look for yourself with the help of the free searching service we offer
at this site. As of the day of this article, there are 72 condominiums
listed in the Realtor's Multiple Listing Service plus 16 real estate
properties classified as "townhouses" in the single-family properties
for sale in Midvale Utah available. Click here to
do a current search.
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|
Q:
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Is there a
provision for the disabled with townhomes and condos?
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| A:
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The 1990 Americans with
Disabilities Act requires that new construction of multi-family
units, which includes condo/townhome projects, be disabled accessible.
And the Federal Fair Housing
Act, which effects Midvale Utah as every other state, protects against
discrimination of the
physical or mental disabled. This includes the requirement to make reasonable modifications to buildings that aren't
presently accessible
for the disabled.
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|
|
Q:
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Is smoking
allowed in condominium/townhomes?
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| A:
|
In most cases, the indoor
common spaces will probably be banned from smoking in cities like
Midvale Utah. Homeowners association's board of directors will
probably see to that
In most cases in
Midvale, outdoor spaces will probably not be banned from smoking. Be
sure to check the Home Association Rules and Regulations of the
condominium - townhome project you are interested in because each
development is different.
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|
Q:
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Are townhome
condominiums a good
investment?
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| A:
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They have been pretty good, almost as good as single-family homes.
Midvale Utah has enjoyed
good property appreciation in the last few years, and condominiums and
townhomes have been no exception. Overall, condos and townhomes will
probably never have quite the same appreciation values, at least not
in Midvale Utah. In some parts of the country, like parts of St.
George Utah for example, condo-townhomes enjoy an even better
appreciation than do single-family homes.
Have your Realtor show
you the comparables so that you can by wisely because all real estate
investment has some risk involved.
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|
Q:
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How about
one-bedroom condominiums, are they good investments?
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| A:
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One-bedroom condominiums
have not been as good of an investment as two bedrooms and up; as is
true with single-family homes. However, because markets change due to
shifts in the economy some areas find one-bedroom condos are still a
better long term investment than renting. Again, have your Realtor
check to comps to see how Midvale Utah is currently doing in that
regard.
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|
Q:
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How do I get a copy of the Condo/Townhouse CC&R's?
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| A:
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When shopping for a
condominium and/or town home have your Realtor ask for a copy of the
Covenants, Codes, and Restrictions from the Home Owners Association
board. Be sure to get the latest addition as new addendums can be
applied at any time if condo members vote and decide on changes.
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|
Q:
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How do I know if
a condo/townhome
homeowners association fees are fair?
|
| A:
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It's a fairly straight forward bit of math to figure out if the HOA
fees are priced well or not.
What do they include?
Water. Sewage. Trash. Exterior maintenance.
Pull out your
calculator and add up how much thoses things might add up to on a
monthly basis. Often, because of shared expenses, the HOA fee is less
than if you pay for all those things seperately.
Probably, the more
important question is, "Will you enjoy living in the development and
thus are all the expenses related to living there worth it?"
Be sure to uncover all
you can about the homeowners association before you purchase.
Remember, it's a mini-government with the powers in place by vote. You
want to live in a condominium / townhouse where the association's financial
and legal conditions are strong and healthy.
Talk to a few of the
residents. It won't take long to find out if people like living in the
condominium or townhome project you are interested in or not. |
