Attached vs. Detached

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KD_B_IHB

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Between two homes that have similar floor plans, would it be better (in regards to resale value) to purchase a slightly smaller detached home or a slightly larger attached home? Let's say, a difference of 500 sq. ft. or less, and within the same price range.
 
the detached one will cost more in the long run in terms of selling price. The HOA is lower and you actually own the land the building sits on. Also, when you get your mortgage, you'll get a lower rate with a detached unit than an attached unit.
 
<p>In my opinion KD, slightly smaller detached = slightly larger attached. Their resales will for the most part move together. In my part of Irvine, the detached 1600sf units run about the same pricing as attached 1800-1900sf places.</p>

<p>It seems easier to actually sell a detached unit though. The american dream is about having your own four walls, even if they are horribly close to your neighbor's four walls... </p>
 
You need to look at builder's disclosures: sometimes a detached structure is, in fact, a condominium, which has less resale value + you don't own the land underneath it. Builders use that trick to put more structures per acre, and they feed buyers the same line about "city zoning requiring that only condominiums are built here." In fact, if a community is zoned for condos, it means that SFRs can be built there as a "higher use of the land." Same is true for commercial zones: you can put SFRs in them, but you can't put commercial stuff in SFR zones, since SFR is a highest possible use for the land. Just smth from my Property class at law school...

If what you're looking at is a true SFR, not a detached condo, then it is always better than anything attached.
 
ndiddy and blackacre... you do own the land it's just worded differently, you have a little more freedom when it's a SFR than a condo but either way you are quite restricted what you can do with your land by the master HOA...



as for resale, the bigger sft should make up for the attached part... and i'd rather own a attached and not have to deal with gardening (but pay for it with the sub HOA). most of the detached or SFR ar so tight to the next one that it's quite odd to have a yard between to walls... personal choice i guess
 
<em>"What's the advantage of a SFR over a detached condo?"</em>





There really isn't much difference between the two. Detached condos tend to be higher density and often have shared driveways which can be a pain. The HOA fees also tend to be higher in detached condos because they are condos. Of course, since you are paying for maintenance through the association, you generally don't need to contract for someone to mow your yard, so the higher HOA fees are generally offset by lower ownership costs.
 
<em>"what about the structure of the detached condo? who does the maintains on say your roof? is it the HOA or is it the homeowner?"</em>





I depends on the association. Most will likely make you maintain it because it is detached and does not impact your neighbor's property.
 
I live in a detached condo and most of the structural responsibilities are mine, i.e. roof, exterior walls, etc. The association maintains some of the light fixtures attached to my house and also takes care of the fences, mailboxes, etc. since they are on common property.
 
This thread is being jacked... the OP's question is whether resale values would be different. Without knowing specifics, I think there is no disagreement that a SFR will have higher resale value than an identically-sized attached condo. If they are differently sized, then everything depends on the specifics.
 
don't think this is beeing hijacked... HOA fees and maintance costs are a big factor these days when purchasing a home, be it attached, detached or SFR... all these fees and costs will be taken in consideration when bought by someone (or at least should be)



so while a attached condo might SHOW higher fees (therefore possibly scare a buyer away) the overall costs might be the same...



i think the resale value should be close to the same when comparing SFR and townhomes, considering even the same sqft... you have only one shared wall... the rest should be all up to location, layout etc...



so if you buy a $600k SFR with 1500sft and you can sell it for that price later, you should be able to buy a $500k townhome with 1800sft and sell it for the same price later... considering that no outsidefactors have changed...
 
Marginal cost here, but homeowners insurance is, i believe, at least three times as high for sfr vs condo. Which is the reason why an HOA for sfr is typically lower because it does not include insurance premiums that are required to be paid for by the condo HOA to cover the property they own aka your walls and landscape areas. So I guess it's a wash, so disregard my comment.
 
I'm in a detached condo, which gets pricing at least very similar to a SFR, and I'm at a loss to see a reason it would be less. We have our own driveway, pay our own maintenance, have a low HOA, etc. I understand that hypothetically I couldn't build a McMansion and sell it but that's entirely moot since our HOA won't even let us change the paint color, never mind rebuild. I can't think of any meaningful way my place is different from a SFR with a strict HOA. I've actually long been curious why it's legally a condo when at the least every effort was made to make it like a SFR. The condo part is represented by nobody, including the HOA - we're not in a developmentwide condo, just in a block of 8 homes. I don't even know which ones.
 
"<em>I've actually long been curious why it's legally a condo when at the least every effort was made to make it like a SFR.</em>"





When i was looking at taylor woodrow homes in portola springs last summer i asked the head sales guy why it was considered a condo if it was fully detached, he said in irvine the lot had to be a minimum size for it to be considered an SFR and not a detached condo. So even though all of the characteristics of an SFR are there in a detached condo, apparently is the lot size that drives what it is. I think he said it had to be a minimum of 5000 sq ft, but not sure. smaller lots = more homes = more profit; well not right now at least.
 
<p>Qwerty </p>

<p>You are the most correct on this subject. </p>

<p>Condominium is a legal term relating to ownership rather than a structural type. There are various forms of condo ownership such as: Air Space, Zero Lot Line, Cube Condo and many others that developers and attorneys have come up with to increase land yield or beat setback codes. You may want to google these since they are pretty involved. To try to lump "condos" into one box is confusing to say the least.</p>

<p>While working at a major builder I was involved in originating the Cubic Condominium Plan which is what a lot of detached condos are mapped as.</p>

<p>We also built Single Family Attached homes which were mapped as SFR but built as a duplex with 1" of airspace between the inner party wall which could have no penetration of utilities or wires. Basically you could have cut the building in half and had two complete homes under a single roof. The CC'Rs had a Reciprical Roofing Agreement to provide for roof maintance.</p>

<p>It really pays to read and understand the documents relating to the mapping and ownership of product in todays market. <strong>Do not rely on an agent or even new sales representative to explain it since most really don't understand the total picture.</strong></p>

<p>You may want to have the documents reviewed by a good <strong>Real Estate Attorney</strong> to protect yourself. A few hundred bucks spent before the purchase is well worth it.</p>

<p>Regards</p>

<p><strong></strong></p>

<p> </p>
 
My buddy and his sister own homes north of Tustin Marketplace in Irvine. One owns a town-home and the other, a SFR. Both are in HOA's. The town-home has monthly HOA of almost $200, while the SFR's HOA fee is $50. However, the SFR's HOA doesn't have a swimming pool, club house, kid's play ground, gates, etc.





Given choice, I'd take a SFR in a HOA that does have a swimming pool, and a house with decent sized back-yard that I could expand into, if needed. It's much harder to find space to expand in a condo or town-home, unless if you're doing garage or loft conversions.





Many of the homes built in boom era had wasteful floor plans. It wasn't until very recently that I started seeing better usage of dead space (turn into closet/storage space) and additional loft options on the 2nd floor (building over empty space). I also like the ones that convert the attic into 3rd floor-loft.





I'd also suggest checking the community at night to see the parking situation. If you see plenty of guest/street parking avail, then that's a good selling (or buying) point. This might be irrevelent if the property has 2-3 car garage + full drive way.
 
" I'd also suggest checking the community at night to see the parking situation." I can't stress this enough, particularly in condo neighborhoods with many units. The parking in many (including ours) can can be awful.
 
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