Reply to Want to downsize-Sell and take loss but save, or wait for appreciation?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you leave a house with a dated kitchen and bath for a townhouse with new finishes, then you are just buying into another depreciating asset.  You have to be willing to update the inside of the townhouse, or you will be losing money again when you sell a dated townhouse a few years down the line.  Make sure that you aren't just moving for new and shiny.  It's cheaper just to update your current place.[/quote]

+1.  You're paying for the land and structure in this area.  Not the appliances and shiny fixtures.  x refrigerator technically costs the same amount in Kansas as it does in Washington. However, the land certainly does not.  Townhomes don't appreciate like sfhs do and they come with an hoa.  I would never choose a townhouse over a house unless it was the only way I could afford to own and build equity. [/quote]

OP here.

This is interesting. We own rentals as well and I am not sure if TH vs SFH appreciation is any different? I thought location and schools were the deciding factor for appreciation rate.

Regarding HOA, we have to pay for trash and the Reston association in our SFH, so that is the same as the TH fees.

But yes the main reason for moving is the cost savings and schools, and for sense of community and the yard work as well. We just spent 1600 on our yard for maintenance and ground covers, and 1200 for sod, and the trees still need trimming and yearly checks. I am also worried about the trees and high winds during tornadoes. DH does the grass mowing. And our backyard slopes to a parkland so does not get any use, though yes the property is on half an acre of land.

And we dont use the basement or 2 out of the 5 bedrooms, so that is the space we would be giving up by moving from our 3500 sq ft SFH to a 2400 sq ft TH which seems adequate for a family of 4.[/quote]

not a good idea to live in a townhouse in the suburbs, maybe its ok in the city but even then you are short changing your family[/quote]

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