Single family home vs condos

[Capearc]

How does the cost of owning a condo compare with the cost of owning a single family home that are close to the same number of square feet? What are the positives and negatives of condos?

[graciegirl]

How does the cost of owning a condo compare with the cost of owning a single family home that are close to the same number of square feet? What are the positives and negatives of condos?


We have some condo's but not many. Are you sure you mean condo's? Here in The Villages? or just a general question.?

[Sable99]

I will give you my view in case you really do mean condos But, like Gracie said TV doesn't have many condos.

Personally, I loved living in condos. I lived in two when I lived in VA. My last was almost 1600 square feet and my condo and building was wonerful. The fees were about $300 a month but they paid for everything: indoor pool, outdoor pool, huge community room (with am coffee and donuts and lots of other functions), game room, exercise room, tennis courts, underground assigned parking, etc. And, it also paid for my snow removal, lawn care, water bill, sewer, and anything else.

Mom and I live in a two story condo in Michigan now with a two car garage. We have 4 bedrooms and 3 baths. Our home backs up to a country club golf course so we have a beautiful view. Its great because Mom is 90 and I'm close but we both have our own space We have lawn care and snow removal. They trim our trees and even weed our huge rock garden. But, we don't have any of the other amenities. We had ice damage this past winter and the condo paid for it.

The bad side of a condo is that if you want to do anything major inside your home, you usually have to get permission from the association.

[Capearc]

I do mean condos and noticed there were not many in the villages. The ones that are there look very attractive, why are there not more of them? Are they not as desirable to most people because they are not as private? Are there high fees, restrictions or covenants making them less desirable? Is there more profit in building single family dwellings?

[JoMar]

I thought the limited condo's were up in the Spanish Springs section......are there more somewhere else?

[njbchbum]

I thought the limited condo's were up in the Spanish Springs section......are there more somewhere else?

In by Glenview.

[Bonanza]

I will give you my view in case you really do mean condos But, like Gracie said TV doesn't have many condos.

Personally, I loved living in condos. I lived in two when I lived in VA. My last was almost 1600 square feet and my condo and building was wonerful. The fees were about $300 a month but they paid for everything: indoor pool, outdoor pool, huge community room (with am coffee and donuts and lots of other functions), game room, exercise room, tennis courts, underground assigned parking, etc. And, it also paid for my snow removal, lawn care, water bill, sewer, and anything else.

Mom and I live in a two story condo in Michigan now with a two car garage. We have 4 bedrooms and 3 baths. Our home backs up to a country club golf course so we have a beautiful view. Its great because Mom is 90 and I'm close but we both have our own space We have lawn care and snow removal. They trim our trees and even weed our huge rock garden. But, we don't have any of the other amenities. We had ice damage this past winter and the condo paid for it.

The bad side of a condo is that if you want to do anything major inside your home, you usually have to get permission from the association.

Many people have a misconception of exactly what a condo is. Simply stated, a condominium is a form of ownership -- nothing else. Condos can be a garden type apartment, a duplex, a single family home, a high rise, a townhouse, etc. Whether it is a condo association or a homeowner's association makes no difference. In either case you can own your prooperty in fee simple ownership.

Depending upon the association, there are many similarities and many differences. There are some that maintain the front of the property but you might have to maintain the back (as in the case of some townhouses or single homes). In the case of a single family condo, you may be responsible for your own roof. If a wall separates you from your next door neighbor, the wall can be the responsibility of the two neighbors, or the association.

In any association, you must read the by-laws and rules and regulations to understand who is responsible for what -- you or the association. By and large, in either form of ownership, you can do what you want inside unless there's a possibility you could harm the integrity of the building as in a high-rise. As an example, if you wanted to replace your kitchen cabinets, you would not need permission. Usually, you must always get approval for anything on the exterior. That is the case throughout The Villages.

[mulligan]

In general I believe your statement is correct, except that there is a HUGE difference between a homeowner's association and a condominium association.

[theorem painter]

My understanding of the difference between a townhouse and a condo is that in a townhouse you own the land under your unit and you are assessed and taxed like a single family home. In a condo you only own your unit, not the land. The total taxes are usually included in your association fee. We live in a townhouse in New York. The places in Spanish Springs would be considered a townhouse. We toured many of them and they are gorgeous because they were used at the time for the Life Style visit. Downside is no private outdoor lanai space.

[2BNTV]

The condo I owned in CT had a homeowners association that turned over the maintenance to a management company to do all the necessary work around the condo. The management company was a nightmare to deal with, and the homeowners association became a dictatorship, with the board forming their own clique, of yes people. They hung out together and made decisions, despite what the homeowners wanted.

Give me a single family home where I can take care of what needs to be done, and not have the heartache of listening to people, who don't have my interest at heart but theirs.

Some people like to have everything taken care of such as maintenance and that works, if the management company does a good job at a fair price. To each his/her own.

Some people may say TV works the same way with it's restrictions, but I don't find them to be so intrusive, into one's life. Some rules avoid chaos and instill a uniformity, to protect our investment/s. I would want to live next to someone who paints their house purple with pink polka dots, but that's just me. :smiley:

[PJOHNS2654]

How does the cost of owning a condo compare with the cost of owning a single family home that are close to the same number of square feet? What are the positives and negatives of condos?

We live in the Condos behind the Rialto Theatre in Spanish Springs. (Great Location) Our dues are $350 a month which covers all outside maintenance. We pay the standard amenity fees which come to approx. $180 monthly and includes water and sewer. We pay $55. quarterly for trash and recycle service. There is no Bond and the taxes are around $2700 annualy.

We have an enclosed Court Yard with a eight foot wall from the parking lot side. We can do pretty much what we want to the interior but the exterior changes must be approved by the Board for minor changes and by 51% of the owners for major changes.

[John_W]

We live in the Condos behind the Rialto Theatre in Spanish Springs...

I believe those units and the condos by Glenview clubhouse are the only two-story dwellings in the TV. Most homes in Florida are single story ranchers. That is the one item that would concern me is the A/C on a two-story home with the Florida heat, perhaps the poster from SS can answer that. Are there two A/C units on your home or is one unit enough?

Here is a photo of one, so the original poster can see what a condo looks like. I really do like the tile roof, I wish TV had continued that style roof. I recently visited a neighbor who had moved to Lakeside Landing off Rainey Trail. The first thing I noticed was the tile roofs and those condos are very cheap in price, unfortunately they are a family community.

http://imagesus.homeaway.com/mda01/33f7cf47-1ce7-4aba-8b11-8e6afebec6b0.1.10

[Mudder]

The condos/town houses here are extremely nice. In addition to the amenity fees that we all pay the owners of those also pay condo fees. Have no idea what they are tho.

[llaran]

One of the drawbacks of the townhouses in the Villages is STAIRS, very very few ranch style.

[PJOHNS2654]

Just one but we are not there in summer so don't know how well they would cool upstairs . We do know several people on the street that are there all summer and they haven't complained.

[Bonanza]

My understanding of the difference between a townhouse and a condo is that in a townhouse you own the land under your unit and you are assessed and taxed like a single family home. In a condo you only own your unit, not the land. The total taxes are usually included in your association fee. We live in a townhouse in New York. The places in Spanish Springs would be considered a townhouse. We toured many of them and they are gorgeous because they were used at the time for the Life Style visit. Downside is no private outdoor lanai space.

Sorry, but your understanding is incorrect. You didn't read what I previously tried to explain. A townhouse can be a condo and it can also be a homeowner's association, as an example. If the form of ownership is registered as a condo, that's what it is. You are correct -- you do not own the land; the grounds are all "common areas" once you step outside your front door. Now, if the townhouse is documented as a homeowner's association, you do own the ground on which the townhouse sits and a survey would show you the exact area you own. However, even if your townhouse is within a homeowner's assn., you still would have common areas. That would include the pool, clubhouse, etc.

I cannot say what is done in parts of New York, but in Florida, every single type of fee simple property ownership, regardless of what it is -- a condo assn. or homeowner's assn. (townhouse, high rise, single family home, etc.) is taxed exactly the same way. It all has to do with your property's assessed value and the millage in your city or county. In a condo or homeowner's situation, the common ground areas are taxed to the association and each homeowner would pay a proportionate share in their monthly maintenance fee.

Any dwelling you own, when you are part of an association, will have spelled out in the documents (the rules & regulations and the bi-laws), exactly who is responsible for what as far as paying and maintaining. Your documents clearly define whether your association is a condo or homeowners and in Florida, the governing rules are completely different from one another. In Florida, condo associations have much more "teeth" within the law and homeowner's associations, not so much.

[Bonanza]

One of the drawbacks of the townhouses in the Villages is STAIRS, very very few ranch style.

All townhouses have stairs and are at least two stories.
Those with more stories generally have elevators.

In Florida, a one-story association (condo or homeowner's) home is usually referred to as a villa.
Single story homes are not referred to as a "ranch," but simply, as a single story house.

[looneycat]

How does the cost of owning a condo compare with the cost of owning a single family home that are close to the same number of square feet? What are the positives and negatives of condos?

since there is no HOA ownership of any facilities the 'condos' have roughly the same expenses. I'm not sure about the outside maintenance but imagine it is additional, as everyone pays for their own lawncare.
Having lived in both it is totally up to the individual which is better and in fact what one looks at as a plus another might look at as negative.

[looneycat]

In general I believe your statement is correct, except that there is a HUGE difference between a homeowner's association and a condominium association.

yes but here neither applies as we are governed by CDDs

[njbchbum]

yes but here neither applies as we are governed by CDDs

You might want to read through this information for clarification:
http://www.districtgov.org/images/DeedRestiction/lake/nv_213_4478156_img.pdf
http://www.districtgov.org/images/DeedRestiction/lake/nv_418_4478156_img.pdf
http://www.districtgov.org/images/DeedRestiction/lake/L-103%20Vista%20Sonoma.pdf
http://www.districtgov.org/images/DeedRestiction/lake/L-101%20Vista%20Lago.pdf

[mulligan]

Once a property is submitted to the condominium law, Condo association constitution and bylaws prevail. They will override the CDD. I would guess the reason we don't have more condos in TV is that the developer loses so much control. Also, normally, in a condo, individual ownership ends at the drywall inside the unit. The wall structures are considered common areas.

[rubicon]

We live in the Condos behind the Rialto Theatre in Spanish Springs. (Great Location) Our dues are $350 a month which covers all outside maintenance. We pay the standard amenity fees which come to approx. $180 monthly and includes water and sewer. We pay $55. quarterly for trash and recycle service. There is no Bond and the taxes are around $2700 annualy.

We have an enclosed Court Yard with a eight foot wall from the parking lot side. We can do pretty much what we want to the interior but the exterior changes must be approved by the Board for minor changes and by 51% of the owners for major changes.

John: If I may ask where are these townhouses zoned?

[PJOHNS2654]

John: If I may ask where are these townhouses zoned?
Lady Lake