I have a year and a half to decide between a suburban home or an urban one

[Joanne]

Originally I thought I'd get a home in the town I've lived for 10+ years (this time.)

 

But every time I go to another part of town (it's near the museum district, so I go often for field trips at the school job and it's right next to the weekend job), I feel like I want to live there.

 

It's artsy. Edgy. Fun. Few chains. Quirky. Progressive. Liberal. It is much more me than suburbia.

 

It costs more, of course. Much less for the same money. But I'm beginning to think that I don't want to deal with roofs, foundations, landscaping. It's quite possible a condo is exactly what I need as the kids continue to launch and I continue to build my new career.

 

Thoughts and feedback welcome. I am aware crime is worse in the urban setting. If you know the area, I welcome you referencing what you know.

 

[clementine]

Just by reading your description of the urban setting, it sounds like you would really like it! I agree with less maintenance - that would be a relief to me too. Exciting to think about :)

[zoobie]

Any reason not to rent in the urban area before buying? Just to make sure you love it.

[Joanne]

Any reason not to rent in the urban area before buying? Just to make sure you love it.

 

Yes. I am going to be 50. I am not moving - again - for a rental. I want to move to own. I feel I need to be a homeowner again, and the process of moving is 1) an ordeal and 2) expensive.

[redsquirrel]

If you are going to be 50 then it is an excellent idea to move urban.  It is much nicer living in a city when you are older and/or retired.  You won't need a car, things are close by, it's very convenient. Plus, as you mentioned, someone else shovels the sidewalks and takes the garbage to the curb.

 

Having moved from a country apartment to a city house (a very small city, teensy even) and watching all my friends stay in the country, well, they are all jealous of my city living.  I can walk 5 mins to get milk, I can walk 10 mins and go to a restaurant or church or an art house theater. 

 

Plus, if you can give up your car, if its a city with buses and good public transportation, you will save a lot of money.  DH and I have one car for the family and it saves us so much compared to friends with two cars. And you know what? I only fill up maybe every three weeks. I could go for a month.  That is a big savings.  So, sometimes living in the more expensive area is a wash, when you look at all the other expenses.

[Anne in CA]

I feel you on the not wanting to move again. I hate to move. A lot. I would move to the urban area if you are more comfortable there. I moved to the mountains because I always wanted to live in the mountains, and I am extremely happy here. I love the small town stuff. I love knowing everything that is going on in town. I love the wildlife. I love the sort of people tough enough to live in the middle of nowhere. Live with your people, Joanne. That is my vote.

[Tsuga]

I don't know where you are.

 

I know that for us, the choice to remain in the suburbs is 100% predicated on having children in excellent schools and neighborhoods that they can walk around in. Nothing is perfectly safe, but the fact is, we just don't have 20 year old college students racing cars around the whole doggamn town like they do in Seattle. Seattle is pretty safe in most parts and we love it--love the people--but the cars are more dangerous. (See: Macklemore's new song, "I'm going 38 Dan, chill the off out, mow your dang lawn and sit the heck down" UH IN BELLEVUE IT'S 28 THANKYOUVERYMUCH).

 

Okay, we could deal with faster cars. A little bit. As if we needed them any faster! A baby just died a couple weeks ago from a stupid left-turner.

 

But his kids started school here and my kids did too now and we're committed. There are lots of nice neighborhoods in Seattle, but they are more expensive than ours here in Bellevue, even if the average house price is lower. In practical terms, the average house price of a house in which your neighbors' kids walk to the bus stop alone is lower in Bellevue, if for no other reason than the fact that so many Seattleites either send kids to private schools or simply homeschool or something else. Here we are in the 1950s but with kids from 15 different countries in each classroom. It is nice. It is very nice. Grandparents shuffle along in slippers just like in Seattle, except here, slower cars, more houses, fewer huge intersections. It's just smaller.

 

If we didn't have young kids or kids in PS we'd move to Seattle, to an edgier, poorer neighborhood in a split second. Walking to the store! Taking one bus line to the Opera! We do have a lot of diversity here, though, and spread pretty evenly throughout the city.

 

http://blog.estately.com/2013/10/bellevue-vs-seattle-which-is-the-better-place-to-live/

 

"Home prices have been steadily rising in both Bellevue and Seattle for about the past two years. In Bellevue, the median home price is about $550,000, while in Seattle it’s around $330,000. Break out some simple arithmetic and you’ll discover that’s a difference of about $220,000. So maybe that’s why people in Bellevue apparently don’t eat out as much."

 

FOR REAL. Brunch, are you kidding me? We'll be caulking the tile to the addition to our tiny rambler, thankyouverymuch, if we ever manage to find one. Also, who wants to have brunch with a whiny three-year-old and seven-year-old know it all? I'm just asking. Let the Amazon crowd enjoy their mimosas, god knows I enjoyed mine when I was their age.

 

Finally, if you are buying, what we also were thinking of was what do we want to leave our kids? One thing on our minds is inheritance. Suppose our kids have kids. Okay, there are four of them so they can't all have this. But we are looking at buying where property is worth more and will remain higher, how can we set things up so that they all have the opportunity to give their kids what ours have? Or at least we can be grandma and grandpa and take the little ones in a safe place? My mom lives in a small town.

 

On the other hand (so many hands!) I had my fun in my teens and 20s. Seattle, New York, London, Moscow, Paris, you name it. We had fun. I travelled. I had my urbanity and excitement. I was lucky and now I feel it is my turn to sacrifice. I would like to provide for the next generation. I would like to build some stability and wealth if possible.

 

So, that's where we are. Believe me we have turned this over in our heads a million times. Rent until we can go to a city? Settle here and just take the bus to the opera or light rail if it ever happens? Maybe buy property for property's sake somewhere in a high growth area like Newcastle or something further north, and then rent it out and live where we want?

 

It is a hard decision.

[amy g.]

I grew up in the area that I think you are talking about, in one of the gray houses right across from the Menil Museum. I think you would like the area and would never regret not living in the suburbs.

[Pawz4me]

What I "hear" in your post is that you want the urban setting.  Keep in mind that even if it does cost more, the overall long-term cost will likely be less if you go ahead and move where you really want to be rather than moving where it's less expensive, deciding in a few years you're really unhappy there and then moving again.  Or moving again down the road due to aging reasons

[DawnM]

I choose Urban every time, so I am probably not the person to ask.  We live a bit more rural right now and I have hated it since we moved in 10 years ago.  It takes FOREVER to get anywhere.  We do nothing down here.  I am constantly driving.  

 

I am willing to take a smaller house.  I just want to MOVE.

 

I would suggest looking for a townhouse over a condo.  If you get bad neighbors above you, you are stuck with loud over your head.  At least with a townhouse you don't have that issue.

[Callie]

 

 

It's artsy. Edgy. Fun. Few chains. Quirky. Progressive. Liberal. It is much more me than suburbia.

 

It costs more, of course. Much less for the same money. But I'm beginning to think that I don't want to deal with roofs, foundations, landscaping. It's quite possible a condo is exactly what I need as the kids continue to launch and I continue to build my new career.

 

 

I'd choose this.

[ErinE]

I know the area and I think you will love it. A relative moved away from the Museum District to a suburb for a job and regrets giving up the home.

 

If you work nearby, you will spend much less time on the freeways so your car will require less upkeep and gasoline. As far as your career, you would be right next to the Medical Center (as you know) and all its ancillary buildings. Plus, going against traffic in Houston is much better than the opposite direction.

 

The older condominiums are a good choice if you're willing to upgrade the interior. They sell fast so I would find an experienced realtor; I think Houston has a really low unemployment rate making the market hot. Maybe it will cool down a bit before you need to buy.

[freesia]

I grew up in the city, lived in cities until I was 35, and although I love the beauty of our present home, I would love to be back where I can walk to stores and my kids could be more independent . My mother is aging in a city and appreciates the freedom she has.

[Amira]

We choose urban over suburban, if we have a choice, even with higher costs. I feel like at least some of those costs are made up by my almost never driving. We live in a much smaller space and that works for us.

 

But really, the main reason we do it is because the suburbs are so boring in comparison to urban locations.

[chiguirre]

I vote Museum District. We plan to ditch Kingwood as soon as GW and Geezle finish school. I've been to many shows at the Miller Outdoor Theater at night and I've never felt unsafe. I don't think it's a particularly crime infested area. I like the idea of being close to all Houston offers and still having access to a large park. I think I'd also consider Midtown to expand your options. It's further from the Medical Center but there is more housing stock and the light rail makes the commute easy.

 

ETA: We just had our foundation leveled this week. You don't want to do that if you can avoid it. Suburban home ownership is a drag.

[brehon]

Joanne,

 

Assuming you're still where I think you are, my dad and step-mom bought a townhouse right off the Main Street coming from the museum district and my aunt recently leased a condo just across from Miller Outdoor Theatre. They all LOVE the area and wouldn't move back to suburbia if you paid them.

 

Sounds to me like you know what you want to do.

 

ETA: my iPad won't let me write Main Street without the capital letters. I think you know the street of which I speak.

[Hikin' Mama]

It sounds like urban would be a better fit for you. As I get older (I'm also close to 50), I want less: less house, less yard, less driving. I probably won't live urban, as dh would never go for it, but I definitely want to downsize and move to "town." We are rural right now. If I were single, I would probably do urban for all the reasons people mentioned above.

[Chris in VA]

I'd make the decision knowing that, even if it was costly or inconvenient to do so, I could always change my mind down the road. Knowing a decision does not have to be permanent frees me to try something a little out of the box, iykwim.

I think you are in a good place to give the city a try!

[Scarlett]

I would love to live in a condo.

 

I doubt I ever will.....but if I were you, I probably would choose urban.

[catz]

Well we moved suburban to urban with young kids.  We are not in your area, but our urban city has a similar feel.  We DOWNSIZED housing to do it.  We've been here 12 years and it's be GREAT.  I love it, and I would be very happy to live my life out in the city with walking access and transit access.

 

I think like Chris in Va going into a decision like this.  You CAN change your mind later if it doesn't work out.  At least in my mind, it helps mitigate the risk.  ;)

[Joanne]

 

 

Having moved from a country apartment to a city house (a very small city, teensy even) and watching all my friends stay in the country, well, they are all jealous of my city living.  I can walk 5 mins to get milk, I can walk 10 mins and go to a restaurant or church or an art house theater. 

 

Plus, if you can give up your car, if its a city with buses and good public transportation, you will save a lot of money.  DH and I have one car for the family and it saves us so much compared to friends with two cars. And you know what? I only fill up maybe every three weeks. I could go for a month.  That is a big savings.  So, sometimes living in the more expensive area is a wash, when you look at all the other expenses.

 

The walking to entertainment and basic food staples is welcome. Houston is not a "can go without a car" city, and I do not have a partner so the car will stay.

[Amira]

The walking to entertainment and basic food staples is welcome. Houston is not a "can go without a car" city, and I do not have a partner so the car will stay.

 

Even if you can't get rid of the car entirely, it still saves a lot of money to not have to use it very often.

[Joanne]

I know the area and I think you will love it. A relative moved away from the Museum District to a suburb for a job and regrets giving up the home.

 

If you work nearby, you will spend much less time on the freeways so your car will require less upkeep and gasoline. As far as your career, you would be right next to the Medical Center (as you know) and all its ancillary buildings. Plus, going against traffic in Houston is much better than the opposite direction.

 

The older condominiums are a good choice if you're willing to upgrade the interior. They sell fast so I would find an experienced realtor; I think Houston has a really low unemployment rate making the market hot. Maybe it will cool down a bit before you need to buy.

 

At the time of the plan (18 months), I will reduce down to my "weekend" job in the med center and my private practice. My marketing efforts for my private practice are west, but I'd be against traffic and on my chosen time.

 

Unemployment is a weird and unpredictable thing here now. Whereas much of the country enjoys the low gas prices, it is increasingly difficult for people here. My school enrollment is down in part because of lay-offs and reduced hours (private schools often have to go when an income parent loses their job.)

 

I contacted an area specialist and asked to - at their convenience - tour condos in the area. I know what I can get on the west side with my budget, but I needed to know what I can get in town. A new realtor (but with an experienced firm) took me Monday night. She invested a lot of time and energy preparing for me to see 4 representative properties. This will help inform my decision.

[Joanne]

I vote Museum District. We plan to ditch Kingwood as soon as GW and Geezle finish school. I've been to many shows at the Miller Outdoor Theater at night and I've never felt unsafe. I don't think it's a particularly crime infested area. I like the idea of being close to all Houston offers and still having access to a large park. I think I'd also consider Midtown to expand your options. It's further from the Medical Center but there is more housing stock and the light rail makes the commute easy.

 

ETA: We just had our foundation leveled this week. You don't want to do that if you can avoid it. Suburban home ownership is a drag.

 

 

I am considering Montrose, Midtown, outskirts of River Oaks, Near-town and even The Heights.

 

[TranquilMind]

Originally I thought I'd get a home in the town I've lived for 10+ years (this time.)

 

But every time I go to another part of town (it's near the museum district, so I go often for field trips at the school job and it's right next to the weekend job), I feel like I want to live there.

 

It's artsy. Edgy. Fun. Few chains. Quirky. Progressive. Liberal. It is much more me than suburbia.

 

It costs more, of course. Much less for the same money. But I'm beginning to think that I don't want to deal with roofs, foundations, landscaping. It's quite possible a condo is exactly what I need as the kids continue to launch and I continue to build my new career.

 

Thoughts and feedback welcome. I am aware crime is worse in the urban setting. If you know the area, I welcome you referencing what you know.

Sounds like it makes sense for you at this time of life, Joanne. 

 

Lots of people here are moving to the urban core, especially empty-nesters, and young hipsters.  ;)

 

Don't assume you can't get what you want.  I never listen to agents.  The first one we ever spoke with assured me that "With YOUR minimal budget, you can only get a 2 bedroom in X location."  I just told her, "Watch me." 

 

It took a couple of years, but we bought a 4 bedroom huge house in the top neighborhood in the city with stained-glass windows everywhere for exactly the same money we would have spent on her two bedroom bungalow in an inferior location because we bought at auction!  The only way to buy a house and get a good deal (in my opinion) is at a real estate auction for an elderly person who has moved but took care of the house well (or maybe who has passed away, and the family needs to sell).

 

Don't overlook your local auctions.  You might stumbled upon a dated but perfect gem, and yes, you can still have the 45 days to close.  

 

Anyway, my two cents worth.  You will find something! 

[Garga]

Urban. A single woman living alone doesn't need or even possibly want much space.  I fantasize all the time about just how small of a space I could live in if I was alone.  And being close to everything would be wonderful.  But that's just me.  You have to assess what you want.  Of course, at first you'll still have one child at home, but as you said, they'll leave eventually and you'll be spending decades on your own, so you need to prepare for that.

 

Of course, for urban living here are a few things to consider:

noise, dirt, people on top of you all the time, no open skylines (which possibly aren't available in the suburbs either), bedbugs (we had them and I would fear them again living in a shared building), perhaps other bugs? (when I lived in Baltimore you knew you'd have to deal with roaches and waterbugs), possibly rodents?, pollution, perhaps not as safe, parking issues, costs of everything perhaps being higher.

 

As long as you have a plan to deal with the above or if you are just simply prepared to accept the above, then I'd go for urban.  If it was me I'd prefer urban for myself, so I may be a bit biased in my advice. Though it would be hard to going back to opening kitchen drawers and seeing the roaches run across the silverware to hide in the back.  Yuck. I don't want to go back to that.  Or they'd hang out on the bathroom walls.  Oh yuck.  But that might not be the reality in your city.

[redsquirrel]

It does sound like time is on your side, so take your time and find just the right place.  If you tell enough people and get the word out and are patient, it will happen.  I think the key is having your finances ready to go. If you can move quickly, it makes ALL the difference.

 

DH and I have twice now seen beautiful houses come across facebook, often a co-worker of dh is moving out of town and needs to sell. We have been in the houses and know they are lovely and highly desirable. But, we aren't really in the market and don't have anything together to buy or sell or whatever. 

 

So, get that part ready and you can pounce when the moment is right.

[sassenach]

I'm all about moving into a condo after the kids are grown. I am completely uninterested in house maintenance.

 

I personally wouldn't want to live in an urban setting, but that sounds like the right place for you. My MIL moved to the city, into a condo. She said that when she's older and can't drive, the bus system is always going to be better in the city, and she'll be able to walk places. So, long term it also has some advantages.

[sassenach]

Sounds like it makes sense for you at this time of life, Joanne.

 

Lots of people here are moving to the urban core, especially empty-nesters, and young hipsters. ;)

 

Don't assume you can't get what you want. I never listen to agents. The first one we ever spoke with assured me that "With YOUR minimal budget, you can only get a 2 bedroom in X location." I just told her, "Watch me."

 

It took a couple of years, but we bought a 4 bedroom huge house in the top neighborhood in the city with stained-glass windows everywhere for exactly the same money we would have spent on her two bedroom bungalow in an inferior location because we bought at auction! The only way to buy a house and get a good deal (in my opinion) is at a real estate auction for an elderly person who has moved but took care of the house well (or maybe who has passed away, and the family needs to sell).

 

Don't overlook your local auctions. You might stumbled upon a dated but perfect gem, and yes, you can still have the 45 days to close.

 

Anyway, my two cents worth. You will find something!

I've always wondered, how do you finance when buying at an auction? Or are you paying cash?

[Carol in Cal.]

One thing to add to your considerations should be availability of good medical care.

In our area the urban medical care is not nearly as good as suburban, and 'country' medical care is almost nonexistent; and that needs to be a consideration in later life.

[Joanne]

One thing to add to your considerations should be availability of good medical care.

In our area the urban medical care is not nearly as good as suburban, and 'country' medical care is almost nonexistent; and that needs to be a consideration in later life.

This area of town is adjacent to THE Texas Medical Center: known internationally. In that respect, I'm good.

[Guest]

That urban one sounds like a description of hell on earth to me :rofl:

 

For you, however, it sounds perfect. Just hearing the way you talk about it seems to make it obvious enough - even the hard things you will likely tolerate better because you love it. Every little annoyance seems compounded when you're in a place you don't want to be.

[bettyandbob]

You should go for the urban location. It sounds like it could be a good fit for a long time.

[gingersmom]

My mother had the big empty house in the suburbs. She decided to go to NYC one weekend and rent an apartment to see if she would like living there. She rented an apartment on a Saturday, moved in days later and 25 years later is still in NYC.

 

She went back to house to pack up some things but never spent another night there. She sold the house immediately.

 

It sounds like the right choice for you.

[Harriet Vane]

My vote is urban. I think the vibe will fit you.

[Bluegoat]

It sounds like urban makes sense, and is what you would like.  So - i guess I would want to think carefully about the potential downsides.

 

Downsizing has a lot going for it, but you might want to think about things like space for a garden or guests. 

 

I know you said a car is necessary, but I would look into this - something like joining Carshare could save a lot of money.

 

I've known people who went urban but enough of their lives were back where they came from that they still ended up going into the suburbs a lot.

 

Probably my biggest fear with a condo is the potential to be on the hook for a lot of money.  This isn't uncommon around here - my sister very luckily sold her condo only a month before they discovered some water damage that she would have had to pay over $10,000 towards plus be in a building undergoing a major renovation. 

 

The other thing might be to consider if there are other options besides urban/suburban.  Some cities have some older, inner suburbs that are close enough to downtown to give you those advantages, while also being a little quieter and more private.  For housing choices, my inclination would be to join a co-op rather than a condo.

 

[kubiac]

URBAN!

 

http://www.newyorker.com/magazine/2004/10/18/green-manhattan

 

Done properly, cities are good medicine for people and the planet.

 

See also: http://www.amazon.com/The-Permaculture-City-Regenerative-Resilience/dp/1603585265

[bettyandbob]

 

 

Probably my biggest fear with a condo is the potential to be on the hook for a lot of money.  This isn't uncommon around here - my sister very luckily sold her condo only a month before they discovered some water damage that she would have had to pay over $10,000 towards plus be in a building undergoing a major renovation. 

 

 

 

Yes, before buying a condo or townhouse, find out about the maintenance of commonly owned areas (parking garage, roof). You don't want to get an assessment for a big ticket item on top of a mortgage. If the condo association is well run, it should be put aside money from dues yearly to save up for big maintenance. My townhouse HOA does this and we've not had an assessment in the almost 25 years I've lived here, but the neighboring community didn't save for private road maintenance and they had to do a special assessment a few years back. Basically, before you buy check the financials and make sure the group is following a financial plan to cover future maintenance costs.

 

I do think condos and urban areas in general can be a lot better for persons who want to age in place (not move to retirement areas).

[Bluegoat]

URBAN!

 

http://www.newyorker.com/magazine/2004/10/18/green-manhattan

 

Done properly, cities are good medicine for people and the planet.

 

See also: http://www.amazon.com/The-Permaculture-City-Regenerative-Resilience/dp/1603585265

 

I think people need to be careful about these ideas about urbanism - they are often more limited than people realize.  I've met quite a few people who think that because city centers have a certain kind of efficiency, everyone should live in a big city, and people who live rurally are wrecking the environment.

 

They seem to forget that when cities become very large, aside from creating problems with getting rid of waste and growing food within a reasonable distance, they are typically covering farmland or other important habitats, and they fail to noitice that the efficiency of the city is no longer so clear when people are having to commute several hours even within the city. They also often are not counting the suburbs as part of the city, even though they belong to cities and not the countryside. Smaller and mid-sized cities are often far more efficient and sustainable than large ones like NYC.

 

But mostly they forget that while empty wilderness is a good thing, empty rural/agricultural land often isn't, because what it means is that people are getting their food from imported sources, and as a result the rural communities are not strong enough to serve the people who should be living there.

[Annie G]

Can't think of downsides to living in the city, or in a condo.  Sounds like a perfect plan for you!

[regentrude]

In your situation, if you want this to be your "forever" home: urban.

As pp pointed out: as an older person, not needing to drive for every errand is very valuable.

Since you don't have young kids, you do not need to base your choice of living area on the quality of the school district.

 

[Carol in Cal.]

 

Since you don't have young kids, you do not need to base your choice of living area on the quality of the school district.

True, although everywhere I have ever lived resale value is dependent in large part on the quality of local public schools.

[Seasider]

I think urban sounds great for you! One thing to watch for - don't put yourself in a food desert. Make sure there is an affordable place nearby to shop for basic groceries and toiletries.

 

An extended family member had a fantastic rent controlled apartment right on the town square of her big city. After 40 years of living there, she still loved being urban, but the walkable grocers had all closed and been replaced with mid to high end restaurants. Younger family members had to bring in goods for her, or take her shopping once she got too old to drive out and do it herself.

 

It doesn't always take passage of time. My city has seen a big trend in urban loft development. However, there's only one grocer to serve the community. So, yikes! Very expensive!

 

Of course I haven't been to the area of which you speak for many years, so maybe the type of stores you need for basic goods are easily accessible in your urban setting. Just something to look at when you go condo hunting.

[Farrar]

People are moving back to be more urban in general which means that depending on your city and what you get, it may be a better investment than anything the suburbs.

 

I grew up rural and suburban, but I idealized my grandparents' urban living in New Orleans as a kid. When dh and I bought our home, I was excited to be in the city proper and while there are downsides, I haven't regretted it a bit.

 

As for car... obviously you can't ditch a car if you need to drive to work, However, if you don't at any point, we're saving a lot doing doing one car and getting zipcars or as needed. I assume uber does well there too.

[TranquilMind]

I've always wondered, how do you finance when buying at an auction? Or are you paying cash?

Most of them, especially estate auctions held on site, permit you to finance, so long as you get it done within  45 days or whatever time limit they set.  It has never been a problem and I have done it multiple times. 

 

You do need to put a few thousand down on the day of auction.  My first auction buy was $2000 on day of auction (and they accepted personal check).  Some do require cashier's check, but not most of the ones I attend.  My latest purchase was $5000 down, and it is a credit at the closing table, of course. 

 

That one appraised tens of thousands higher than I paid, so I was happy.  ;)  It's dated, but perfect. 

[brehon]

I think urban sounds great for you! One thing to watch for - don't put yourself in a food desert. Make sure there is an affordable place nearby to shop for basic groceries and toiletries.

 

An extended family member had a fantastic rent controlled apartment right on the town square of her big city. After 40 years of living there, she still loved being urban, but the walkable grocers had all closed and been replaced with mid to high end restaurants. Younger family members had to bring in goods for her, or take her shopping once she got too old to drive out and do it herself.

 

It doesn't always take passage of time. My city has seen a big trend in urban loft development. However, there's only one grocer to serve the community. So, yikes! Very expensive!

 

Of course I haven't been to the area of which you speak for many years, so maybe the type of stores you need for basic goods are easily accessible in your urban setting. Just something to look at when you go condo hunting.

Although your concern is certainly valid, where my aunt and dad/step-mom live (which is one of the areas Joanne is considering) that is not an issue.

[TranquilMind]

Yes, before buying a condo or townhouse, find out about the maintenance of commonly owned areas (parking garage, roof). You don't want to get an assessment for a big ticket item on top of a mortgage. If the condo association is well run, it should be put aside money from dues yearly to save up for big maintenance. My townhouse HOA does this and we've not had an assessment in the almost 25 years I've lived here, but the neighboring community didn't save for private road maintenance and they had to do a special assessment a few years back. Basically, before you buy check the financials and make sure the group is following a financial plan to cover future maintenance costs.

 

I do think condos and urban areas in general can be a lot better for persons who want to age in place (not move to retirement areas).

This is true.  The assessments can be enormous and are not capped by anything.  Years later, you could be paying as much as a mortgage payment, depending on location and amenities.  Check the trend for the last decade or so on these costs. 

[Truscifi]

Another vote for urban. It will make your life easier to be close to the things you enjoy and not have to deal with regular maintenance of a yard and such.

[texasmama]

Get the condo.  Go urban.  :)

[Alessandra]

I am considering Montrose, Midtown, outskirts of River Oaks, Near-town and even The Heights.

 

I have relatives in the Heights. One has a tiny garden, front porch, remodeled house all on one floor. I love it. Parking is so easy when you have your own garage. Other relative has a bigger, older house, two stories, pool, poolhouse, too much, Imo. They both appreciate the Heights elevation when the rest of the area floods, lol.