Anyone has regrets for getting a townhouse
I’ve lived in condos my whole life, but I always dreamt of living in a house in the city. I recently found an old TH in a great neighborhood. The townhouse needs a full gut and excating the basement, but the location is fantastic, and I’d like to make it my permanent home, and am ready to sink some serious money into it if I get it.
However, I’m getting a bit of cold feet. I’m currently in a wonderful building with amazing views and good amenities. Do you guys have any regret in terms of getting a TH versus a condo? Does doing everything yourself ever get tiring or is the freedom liberating? I did some calculation, and for the total cost of the project, I can get a full floor unit in the city with views from ESB to Freedom Tower. However, I do have to say I’m tired of condos.
Anyone has regrets going the townhouse route?
studiosfw
in General Discussion 3 years and 3 months ago
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cobblehillhome | 3 years and 3 months ago
Bought a renovated TH in 2021 – first 9 months were a headache learning to new homeowners (we previously lived in rentals for 10 years). I would echo others’ comments — if you’re handy, which today easier with YT videos and internet forums like this one, you’ll be fine. Things will break even if it’s recently “gut-renovated.
– If you prefer to call a professional, expect to pay at least $200 for someone to just show up
That being said, no regrets. I love the extra space, the fact I know my neighbors, that I have a backyard (picked up gardening as a new hobby) and that I finally have a stoop I can sit on in the mornings and drink my coffee from!
cobblehillhome | 3 years and 3 months ago
Bought a renovated TH in 2021 – first 9 months were a headache learning to new homeowners (we previously lived in rentals for 10 years). I would echo others’ comments — if you’re handy, which today easier with YT videos and internet forums like this one, you’ll be fine. Things will break even if it’s recently “gut-renovated.
– If you prefer to call a professional, expect to pay at least $200 for someone to just show up
That being said, no regrets. I love the extra space, the fact I know my neighbors, that I have a backyard (picked up gardening as a new hobby) and that I finally have a stoop I can sit on in the mornings and drink my coffee from!
Lurker | 3 years and 3 months ago
grew up in house, lived in apartment for a couple decades as renter, and then home owner for a decade. Renovations in NY have never been more complicated or expensive or frustrating–you can’t just get a GC and wing it. You should expect a couple years of exhaustion if everything goes precisely perfectly. Beyond that as others say, being able to (largely) determine your own destiny is terrific, but there is ALWAYS something that needs attending to. Everything has a lifespan, and they are averages. If you are not handy, it will feel like death by a thousand cuts beginning ~5 years after your renovation when cracks and leaks and such start to appear. If you are handy you will feel like Sisyphus, with a to-do list that never finishes. If you can balance that, great! Highly recommend a rental unit in a two-family: mostly reliable income, less red tape than 3-plus fans.
ladybug | 3 years and 3 months ago
Co-ops are pretty exhausting after a while. I don’t know if condos are much better. As the Surfside tragedy demonstrated, there’s nothing safe or enjoyable about electing a random assortment of unqualified neighbors to make decisions about the maintenance of your home and likely greatest asset. That whole concept is pretty absurd. For this reason we’re selling our co-op and purchasing a small house. Will let you know if we regret it in a year.
workisfun | 3 years and 3 months ago
We took on literally hundreds of thousands of dollars in UNEXPECTED defects and litigation almost the day after closing. However, hopefully
The debt will be paid off by the time we die and our kids will have a hell of an asset to manage or sell. I have been able to make improvements here that I never invested in for our ten-yr apartment. It’s a different mindset and sense of future security and leverage. We weren’t interested in a condo or coop because we wanted independence in regards to this asset. Also, after having watched the Surfside tragedy in FL last summer…
Guest User | 3 years and 3 months ago
I don’t regret buying the house at all though. We were coming from an unpleasant apartment situation…roaches, downstairs neighbors banging on the ceiling…and lack of space. But there’s downsides.
RobertGMarvin
in General Discussion 3 years and 3 months ago
“Having a baby that will never grow up”—an apt description. OTOH living in an apartment is sort of like BEING a baby that will never grow up 🙂
Guest User | 3 years and 3 months ago
If I were to do it again, I’d get a two family (at most). We’ve had a pretty large 3 family for 18 years and for us it costs less than it would be live in an apartment because of the rental income and also because prices were so much lower at that time, and the property we bought was “renovated” (that’s another whole discussion). But there’s work involved-we’re the supers, property managers and real estate agents. I do as much as I can myself also, and it can be a pain. Things break and hopefully you won’t be on vacation or something at the time (it’s happened to us unfortunately). I’m feeling down on it now due to some repairs we need to line up. So maybe it’s not the best time for me to give an opinion, but for the same money for the space, I’d probably get a condo (on the top floor). But there are enormous positives too – I love the space and it’s mostly great to have this kind of living situation in the city. But sometimes it’s like having a baby that will never grow up.
DazednConfused | 3 years and 3 months ago
We’re maybe just a few months ahead of you down this path (see my other post about expeditor and ADA-compliance questions, haha), and as everyone else said, it’s so subjective, but figured I’d throw in my thoughts:
Lived in a mix of apartments and houses growing up, had an apartment in a coop in the city for 7 yrs, thought I’d be happy living in apts my whole life, but for some reason a few yrs ago became convinced I wanted to live long-term in a townhouse. Paying the same amount of money for an apt, even a nice large one, felt…not worthwhile. Also the monthly payments would definitely be higher if you’re talking same sales price, because of taxes or maintenance. And personally I really love the appearance and interior details of the townhomes which you are going to be hard-pressed to find in an apartment.
That’s not to say there aren’t cons. With a house, you’re definitely taking on a lot more chores, even not including the yard stuff. We don’t have a lot of handyman know-how so we’re learning as we go. We suddenly have to buy stuff like rakes and shovels and thing s, and care about when the trash should be put out, when the water bill comes, manage our own security, HPD, DOB, DOT…it’s a lot. My partner is definitely having periods of buyer’s remorse, haha. (However I think a lot of it comes from us just getting started and having to tackle the “not-fun” renovation stuff before we actually can move in and start enjoying the property…and it sounds like you will have to do that too, so consider that.) I’m still feeling pretty good about it, despite all the work, but time will tell. Overall, already, I definitely have a greater feeling of “ownership” than I did with an apt. (Insert obligatory “that’s because you had a coop, not a condo” comment–no, that’s not what I mean.)
colonialrevival | 3 years and 3 months ago
After living in many walk up apartments, there is something quite liberating about opening the door and immediately being home. In addition to outdoor space and a basement, it has been a life-changer. We have a private rear garden and a substantial (by NYC standards) front garden as well, which get lots of use in the temperate months and also provide lots of activities of their own.
RobertGMarvin
in General Discussion 3 years and 3 months ago
This is completely subjective. I grew up in an apartment building, lived in a couple of brownstone apartments, and bought a single family limestone 47 years ago. I’d never want any other place to live, even though, as I age, I find myself hiring people to do much of the maintenance I used to do myself. Still, I can understand why some might prefer a condo. Yes pays yr money and yr takes yr chyrce.
andriywww1990 | 3 years and 3 months ago
i grew up in a house with a large yard. i lived in an apt during college and for 10 or more years after college. then we bought a house, 15 years ago. having seen both sides of this now, i can say it depends on what your likes are:
i liked having a yard when i was growing up and thought i would like having a yard now. it was nice when our son was young and we have a fence out back and could let him move freely out there. but we also have a park nearby and that was an all around better alternative as it got all of us away from the house for more than a few hours a week. children need that interaction. so aside for the very fleeting times we played with our son in the yard, i dislike having a yard and dislike the upkeep. i would rather spend my time doing something i enjoy. but, if you enjoy gardening …
houses require maintenance. i know how to do almost all of that kind of stuff myself. so the cost is not there for us BUT because i do this for a living, i am loath to do it on my day off. i am thinking of the exterior maintenance to the stru cture. the roof gets painted every few years, the wood trim gets painted, etc. most people in the city hire people to do this and i suppose if you live in a coop or condo, you are paying for that anyway through the common charges.
when we lived in an apt we were on the second floor with an ever present landlord. i liked that. she was the one who made sure the heating system was on when we traveled in the winter, collected the mail (and in a coop, this might mean a neighbor collecting packages), and was the reason we never felt like we might got broken into. having a neighbor in the same building gave us a sense of security we no longer have though neighbors always seem to look out for one another.
if you get a house in the right area and the home values appreciate faster than the surrounding areas do, you will like your house a little bit more and might be more willing to tolerate the things you do not like. especially if you know you will sell it one day and maybe buy in an area where the prices have not appreciated so much.
it will come down to personal choices.
brokelin | 3 years and 3 months ago
I would take with a grain of salt an opinion of someone who only considers a house to be a “home.” “Home ownership” includes condos and coops, and isn’t limited to just houses. People make their “home” in all kinds of places, yes, gasp, including even rentals, and shared rentals. Not everyone needs the space of an entire house.
ceci | 3 years and 3 months ago
I have no regrets in owning a home vs. condo. With home ownership you know what your expenses are, budget in repairs when necessary, and you are independent to make decisions concerning you home… With a condo , the sponsor lures you in with tax abatements that at the end of 10 years would triple your property taxes…. If you are able to afford it and are the successful bidder, I recommend home ownership wholeheartedly!! Also, those good amenities also add to the cost of condo ownership with wear and tear need to be replaced…. Also, some of the work in these developments are quite shoddy and not well constructed!! A friend of mine, bought a condo in Far Rockaway with wonderful views of the ocean , it turned out to be a nightmare and huge expense.. The building had a leak that was difficult to diagnose , the roof had issues and taxes, as well as, maintenance fees hit the roof.. He ended up having to join the condo board in order to have a voice and by the way he’s an attorney!!!!