New investor from California

[Linda Asato]

Hi, I'm Linda A. from Torrance, a city near Los Angeles, CA.

I am a designer/manager looking to invest in a condo or single family near me.

I currently own a 2-unit flat in Chicago and thinking about doing an exchange next year. I would like some advice as to which is the better investment in the long run, a condo or house.

Thanks,

Linda

[Jason Y.]

Hi Linda,

I have worked in Torrance for 25 years and lived close-by for the entire time as well.  This is a no-brainer.  If you could afford the house, it would be better for several reasons:

1) Better appreciation

2) No monthly association fees

3) Easier to sell when necessary

4) You get more land for your money

The downfalls are:

1) You have to maintain the entire house yourself including the garden, land, etc...

2) Slightly higher insurance cost usually (slightly)

It all depends on if you can afford it and are willing to maintain it.

Jason