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"Condos and TownHomes - The Facts"

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Sandy Utah Town Home
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Read this before you shop for a condo or townhome in Sandy Utah.

Q:  What's the best choice between condos and town houses and a normal house, (single-family residence)?
 
A:  In the last 5 to 6 years, condo's and town houses have been similar in appreciation to single-family homes. Interestingly, in some developments in the Sandy area, they've even done a little better than regular houses.

Normally, single-family houses are preferred for investments but the trend is changing in many areas. So called, "empty nesters" and first-time buyers seem to gravitate to condos and town houses.
 



Q: 

Are either condominiums or town homes a risky purchase?
 
A:  Overall, they don't seem to appreciate quite as well as single-family homes, and this includes the Sandy Utah area, however they have yet to lose their value anymore than any other real estate investment in any market trend.

As with any home purchase, do you homework. Always look for trends in any development or neighborhood. Be sure to ask you Realtor for help when in this area when making a purchase. Even though they can't steer you they can help you to see glaring dangers, if any.
 



Q: 

Can condo associations ban things like smoking?
 
A:  Yes, it is possible. Homeowners association's can indeed restrict smoking when there are indoor common spaces such as hallways, recreation rooms, and other mutually used facilities. Of course, legal experts agree that outdoor spaces are a different story. Trying to ban smoking outside would probably offend local laws unless, of course, the city itself has banned smoking outdoors.
 


Q: 

Should I be afraid of homeowners associations?
 
A:  Not at all, they are there for everyone's good. They can maintain the common grounds and keep things civil in the complex. If people follow rules, associations work out well. 

However, learn everything possible about the association before you buy into a development. The association's financial and legal conditions are important. Sadly some associations are managed poorly. Not only could this have a direct bearing on your enjoyment of the property in the long run it could even impact property values

Start by studying the association's covenants, codes and restrictions, to find out if they are reasonable. Speak with current residents to get their opinions. Remember, associations are volunteer organizations with elected boards. It's basically a mini-government. That's good and bad. The potential bad is that "politics" can enter into the picture. Talk to the neighbors before buying.

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