Condo vs. Townhome vs. House – Which One is Right for You? - 319

How to Buy a Home

David Sidoni

How To, News, Education, Business, Business News, Investing

4.8 • 859 Ratings

🗓️ 10 March 2025

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

David Sidoni breaks down one of the biggest misconceptions in homebuying—whether condos and townhomes are a bad investment. With affordability getting tighter, first-time buyers need to know why condos and townhomes can be smart stepping stones that help build wealth instead of throwing money away on rent. Is buying a condo or townhome a bad idea? Many first-time homebuyers believe they must buy a house to build wealth—but that myth is costing buyers hundreds of thousands of dollars. In this episode, David revisits this hot topic with new insights for 2024-2025 and explains how a rent replacement strategy can turn a condo or townhome into your first step toward long-term financial success.

Quote:

"There’s tons of condo haters out there. But with the right guidance in an appreciating market—especially as things get more unaffordable—sometimes, using a rent replacement strategy to buy a condo means you can afford a home later and be hundreds of thousands of dollars ahead." – David Sidoni

Highlights:

What’s the real difference between a condo, townhome, and single-family home?
Why do so many people wrongly assume condos aren’t a good investment?
The unexpected costs of owning a house that condos can help you avoid.
How HOA fees actually replace major homeownership expenses.
The “rent replacement strategy” – how to use a condo to fast-track your dream home.
How a past guest turned a $197K condo into an $80K profit to buy her dream home.
What buyers NEED to check before purchasing a condo or townhome.

Referenced Episodes:

Episode 238 – “The Sexy Episode” (A real buyer’s success story with a condo purchase)
Episode 154 – Important details about condo financing & HOA complexities

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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with two decades of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.

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Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the show, homies. There is a big misconception and myth that condos and townhomes
0:06.3	are not good investments or stepping stones into your path to home ownership. And lots of could-be
0:12.7	buyers are getting bad information and losing potentially, no exaggeration, hundreds of thousands of
0:20.0	dollars.
0:21.7	Play that music.
0:27.9	How to buy a home educates, protects, and connects first-time home buyers to qualify bedded realtors in their area.
0:34.6	Whether you're looking for DIY information or step-by-step guidance, how to buy a home is the number one resource for first-time homebuyers.
0:42.4	What is up? How to Buy a Homies. Hey, let's start off something real cool. You want to hear what my unicorn in Boise says that her peeps call themselves? Ida homies. Yes. Hi, gang. I'm back.
0:51.1	I'm your host, David Sidoni, bringing you, this is a throwback episode right now.
0:56.1	It's a timeless question of condos and townhomes versus a house. I first did this topic back in
1:02.6	January of 2023, but now there's some new changes in the housing affordability, so it's time for a
1:09.4	2024, 2025 reboot.
1:13.2	Now, of course, like all other first-time homebuyer questions, there is no one-size-fits-all
1:18.9	answer. Nothing's black or white, and nothing is generic across the board for everyone.
1:24.5	But I can absolutely and definitively tell you this. For some reason,
1:29.9	when people start to think about buying their first home, this question, you know, putting the
1:34.7	condo town home versus a home one over the other, it's one that people have many strong opinions
1:41.6	on. And what's even scarier to me is they think that the question has a
1:46.2	definitive yes or no answer for pretty much everyone across the country. There's tons of,
1:51.5	well, let's just call them, condo haters out there. So right off the bat, I want you to know that
1:57.4	with the right guidance in an appreciating market, especially as we're getting
2:01.1	more and more unaffordable, that sometimes using a rent replacement strategy to go ahead and make
	...

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