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L-train | Does anyone really enjoy living in a condo/apartment? |
My husband and I have been trying to buy a house for about six months now. Our first lender gave us a 'good faith' estimate for a loan of 215k. Well.. they were wayy off. We can only get 150-160k.
so, basically if we want to buy something it will most likely end up being a condo. I would rather wait till we can qualify for more but my husband really wants to be a home owner and im willing to support him in this life decision.
Can anyone truly like living in the same building as other people?
Additional Details
p.s. we have a baby |
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spanther_22
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no condos are like living in a rabbit warren or something - id hold off people keep saying house prices will fall as a big old recession is just around the corner but if you are paying a lot in rent then it might be best to buy. |
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Dancer!
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i live in a condo and i love it ! , theres always caring people around, but you still get your privacy. |
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Laissez-Faire Guy
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Owning a condo is being a "home owner."
I enjoy living just fine in my condo. Sure, I'd rather own my own house with front and back yards, but a condo is fine too.
Buy it and use it as a stepping stone. Live in it for 5 years or so, then sell it and use the equity you've built as a down payment on a house.
I've raised my son since birth in this condo too. It's fine. |
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Mandi
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You can enjoy it. there are a lot of benefits to owning a condo, you earn equity. Also, it is yours so you can paint a wall or do whatever you want, which is much better than renting. If it is around the same amount as you pay to rent, than have fun in a condo. Enjoy the perks like the pool and not having to mow your own lawn.
We were looking for a house but are thinking about a condo until we have kids. |
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Eliza
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i love it. I live in an apartment now, but more than anything would love to own a condo. |
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blackbimmer1972
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I love living in my condo, but I'm a single guy so it's perfect for me. If I were to get married it'd be a little tight, and if I had kids I'd definitely outgrow it very quickly. So it depends on how much space you think you'll need. I like not having to do the yardwork, that's for sure. And I own it, so I am building up equity in it. |
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lucee
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Condo's are NOT like living in a rabbit warren. So said the person who never lived in one. I owned a condo for 10 years, and finally sold it because I needed to make repairs I simply couldn't afford to make. I needed new carpeting, a new heating system and new appliances. On my Social Security income, those things were not possible. So, I sold the condo and moved into a large all-bills-paid apartment. I don't have to worry about bills, yard, or anything else now.
You have to understand condo's: They all have a set of by-laws and rules that you live by. You DO NOT OWN THE CONDO. You OWN THE INSIDE AND YOUR FURNISHINGS. The condo association owns everything from the walls out, including roof and under the floor (if there is crawl space.) It can be a good investment as long as you keep up the interior, so that when you sell it, you will get back your purchase price plus a portion of what you've put into it over the years.
As with any major purchase, there is a time to buy and a time to sell. You have to watch the market and put your condo up for sale at the right time to sell it, if you buy one. Then you can move on to a house. It is a home purchase, not an aparment. |
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ann
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Well lucee, you are not entirely correct. You do own your percentage of the common elements and own the right to use same.
I like living in a condo, I made money from it and have no worries about yard work, and would rather have a pool and deck than mow a lawn any day! |
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That Guy
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I love living in my condo! It is an old factory (1892) that was converted in 1984, we are on the national historic registry, and have a river running in our back yard, south to north no less! Most people are nice and will listen if you have reasonable expectations, like no death metal after 12.
Before you move in, or place an offer, try to contact the neighbors see what kind of people they are. Do all the research you can so you wont get surprised after you sign the papers. Also go more than twice, and at different times of day, try to get there at night too, when the neighbors are home. AND check to see if there are any Businesses in the area that might make noise early in the morning or late at night, Don't want to live near a bunch of cement trucks getting filled at 5 in the morning on a saturday! |
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