Author Topic: Considering buying a town home - would welcome your thoughts  (Read 971 times)

FrugalSaver

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Considering buying a town home - would welcome your thoughts
« on: March 27, 2017, 10:13:33 PM »
This town home is in a very popular area that's continuing to grow as people move back into the this particular area that is originally from the 1940s and being torn down and rebuilt for the yuppies.

The property is $315,000.

Currently on a 2 year lease with 20 months left on it at $2,850 / month. 

Insurance is about $1,600

Property taxes about 2.6%

Built in 2009.  2300 sq ft

1 car garage

Cash on Cash would be over 10%.  I would PM it myself.

What am I not considering?

adamcollin

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Re: Considering buying a town home - would welcome your thoughts
« Reply #1 on: March 28, 2017, 05:30:13 AM »
Have you rented out this property?

MsSindy

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Re: Considering buying a town home - would welcome your thoughts
« Reply #2 on: March 28, 2017, 05:48:02 AM »
Are there HOA dues?  What about utilities - who pays those?  Will the TH need any major repairs in the next 5 years?

FrugalSaver

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Re: Considering buying a town home - would welcome your thoughts
« Reply #3 on: March 28, 2017, 11:46:28 PM »
Are there HOA dues?  What about utilities - who pays those?  Will the TH need any major repairs in the next 5 years?

No hoa. None coming.

No major repairs expected. Roof replaced. Ac replaced.

Dicey

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Re: Considering buying a town home - would welcome your thoughts
« Reply #4 on: March 29, 2017, 01:43:27 AM »
1 car garage sucks for resale. Deal breaker for me.