Wilmington MA Real Estate | Jonathan Parker & Sharon Kelley - RE/MAX Encore


This Condo in North Andover, MA recently sold for $260,000. This Garden style home was sold by Jonathan Parker & Sharon Kelley - RE/MAX Encore.


50 Fernview Ave, North Andover, MA 01845

Condo

$249,999
Price
$260,000
Sale Price

5
Rooms
3
Beds
1/1
Full/Half Baths
Own at Heritage Green! This top floor 3 bedroom - 2 bath garden style condo has a lot to offer! Open concept living and dining room area with double sliders out to balcony. Eat in kitchen complete with granite counters. Spacious master bedroom with master bath, two more generously sized bedrooms and full bath. Lots of closets for all your storage needs in addition to a designated storage area in the building attic. Complex is pet friendly and amenities include: inground pool, tennis & basketball courts, exercise room, playground and plenty of green space. The condo fee includes heat, hot water, snow removal to name a few. Located close to all major routes make this one a commuters dream! Showings start right away so don't hesitate....this one will not last long! Offers if any due Monday 2/24 at 12 PM. Seller reserves the right to accept an offer prior to Open House or offer deadline.

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When it comes to home ownership, you have many options beyond buying a single-family home. A condominium and a townhouse are two such options. Before you consider making one of these your permanent home, it's important to understand the differences between them.

Condo Ownership

When you purchase a condo, you own the entire inside of the structure. The condo association owns the exterior, all common areas, and the land where the condo sits. Condo owners are not responsible for exterior maintenance. However, you need to budget for condominium association fees apart from your monthly mortgage payment. This covers the cost of repairs and maintenance in common areas. Most condos are in multi-story buildings.

Townhouse Ownership

When buying a townhouse in a traditional manner, you must pay dues to its homeowner's association. This fee goes toward outdoor maintenance, such as mowing the lawn and shoveling snow. Your fee may also include landscaping services. Townhomes typically appear as conjoined single-family homes.

If you choose to purchase a townhouse in a non-traditional manner, you own the land it sits on as well as the physical structure of the home. This means you are responsible for repairs and maintenance both inside and outside of your townhome. The association that owns a townhouse complex is only responsible for communal repairs such as potholes on the street.

Financial Considerations

You can't deduct homeowner's dues if either type of property is your primary or secondary home. The only exception to this is if you rent it to others. If you occupy the condo or townhouse, you can deduct real estate taxes and mortgage interest if you itemize deductions on your tax return. If you plan to use the condo as a second home and rent it the remainder of the time, make sure that you occupy it less than 10 percent of the time that you rent it. If you don't, the IRS considers it personal property.

The non-mortgage fees for a condo are almost always higher than they are for a townhouse. This is due to more shared areas and additional amenities that most townhomes don't have. These may include a swimming pool, a recreation room, or an area on the roof to suntan or host a barbeque for your neighbors. These amenities all carry an additional risk, which necessitates the need for additional insurance coverage.

The property taxes and initial down payment are typically higher for condos as well. Even so, some people prefer a condo over a townhouse because they feel that not being at street level offers them better security.

If you’re in the market for a non-traditional home, feel free to schedule a consultation. We'll go over your options and find the best home to suit your needs.


This Condo in Wilmington, MA recently sold for $350,000. This Detached style home was sold by Jonathan Parker & Sharon Kelley - RE/MAX Encore.


138 Chestnut St, Wilmington, MA 01887

Condo

$359,900
Price
$350,000
Sale Price

6
Rooms
3
Beds
1
Baths
Freshly painted interior, hardwood floors throughout....fireplace living room, 3 bedrooms and updated bath...plus an attached sun room....there is natural gas in the house...... Great country location....but so close to everything.....MBTA train, Route 93, Route 95!





138 Chestnut St, Wilmington, MA 01887

Condo

$359,900
Price

6
Rooms
3
Beds
1
Baths
Freshly painted interior, hardwood floors throughout....fireplace living room, 3 bedrooms and updated bath...plus an attached sun room. Great country location....but so close to everything.....MBTA train, Route 93, Route 95!
Open House
Sunday
November 17 at 11:30 AM to 1:00 PM
Cannot make the Open Houses?
Location: 138 Chestnut St, Wilmington, MA 01887    Get Directions





138 Chestnut St, Wilmington, MA 01887

Condo

$359,900
Price

6
Rooms
3
Beds
1
Baths
Freshly painted interior, hardwood floors throughout....fireplace living room, 3 bedrooms and updated bath...plus an attached sun room. Great country location....but so close to everything.....MBTA train, Route 93, Route 95!
Open House
Sunday
November 17 at 11:30 AM to 1:00 PM
Cannot make the Open Houses?
Location: 138 Chestnut St, Wilmington, MA 01887    Get Directions






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