If you want to buy a Scottsdale Arizona home and want to pay as little as possible, you might assume you should be shopping for a Scottsdale condo. Until 2009 there weren’t any homes for sale in Scottsdale under $300,000 that were worth looking at. $400,000 was considered the low end of the market. The market meltdown of 2008/2009 reset the Scottsdale real estate market.
Now vacation home buyers and those buyers considering condos have a new alternative: small single family homes in nice Scottsdale neighborhoods that can be purchased for close to $200,000. I say close to because homes under $200,000 are rare and usually go very quickly (which is why you need a sharp-eyed agent like me to get you in the door first).
$200,000 can still buy you a very nice home in other parts of Metropolitan Phoenix, but let’s focus on the $200,000+ Scottsdale homes for sale, which are here now, but may disappear into history with a market recovery. There are bank-owned homes (foreclosures) among these listings.
Why buy a Scottsdale condo?
Most home buyers looking at Scottsdale condos want to:
- Spend less than $200,000
- Enjoy the convenience of lock-and-leave ownership
- Avoid the hassles of yard maintenance, pool service, etc.
3 bedroom/2 bath Grayhawk condo for sale at $225,000
While condos can be in gated communities and offer recreational amenities, those benefits come at a price: monthly homeowners’ association dues. For recently built upscale condos, like the Safari and Optima Camelview, the monthly HOA fees can be as high as $700/month. Most condos, like the Grayhawk condo shown here, charge around $220/month. This usually includes water and trash fess, as well as common area maintenance and keeping up the roof and exterior of the building. This condo has a two-car garage, while many have just carports. Annual property taxes are about $2,000 per year. To see all the current Scottsdale condos for sale in this price range, click Scottsdale Condos Under $225,000.
Why small Scottsdale homes might be worth a look
Common benefits of buying a home vs. a condo:
- No shared walls with neighbors, so less noise, more privacy
- You’ll get your own patch of ground, and possibly a private pool
- Homes may be in gated communities and may have community pools
Listed at $235,000, this 3 bedroom/2 bath home has 1,650 SF and a back yard.
What condos and homes have in common may surprise you: property taxes. Both the condo above and this 3 bedroom home in a gated community in north Scottsdale, carry property taxes of about $2,000 per year. And instead of an HOA fee of $200/month this gated neighborhood’s HOA fee is $150/year. To see other single-family homes in this price range, click Scottsdale Single-Family Homes near $200,000.
So which way should you go? Scottsdale condo or Scottsdale home? Here are some tips to help you decide:
- Pick the part of Scottsdale you hope to live in and compare the current homes vs. condos there
- Determine if you need a contained yard for kids, pets, etc.
- Do you plan to swim, play tennis or host friends for poker/bridge/bingo and need a clubhouse?
- Do you need a garage? If so, do you need a two-car garage?
Of course there are many other factors to consider, but asking yourself these questions would be a good start.
I am standing by to help you sort out the option that is best for you and show you the best deals available.
