For the Rookies

[1989]

I bought my condo knowing it would not be my permanent home.

Nothing is permanent. So regardless, it's your lifestyle. Who knows, maybe your kids will put your ashes in the wall.

 

[upsgrunt]

Would the access point in the wall to put said ashes be called an ashhole?

 

[1989]

Condos can be very hard to resell.

Before you buy anything, look at the back end. "How will I get out of it".

 

[UpstateNYUPSer(Ret)]

Before you buy anything, look at the back end. "How will I get out of it".

I won't sell unless I make a profit.

 

[wayfair]

That's a steal

I like the game room, bar, and attached movie room!

 

[baklava]

If you have bad credit and can't at least come up with a 10% down payment. Maybe you aren't ready to buy a home ?



Not saying you...just in general.

I have excellent credit, the problem was the down payment. I live in the Bay Area so I'm in a different boat than most of the country. I could have put down 10% on my home but I'd pretty much wipe out my savings, instead I did 3.5 down with the FHA and used what was left over to remodel the kitchen and bath. I bought the house a year ago, and with this market, it has increased enough that I'll be refinancing out of the FHA next month.

Ready to buy a home? I bought it before I even reached top rate. I wasn't going to leave myself at the mercy of the insane rents here.

 

[1989]

I didn't buy mine for the resell value. I bought it so I wouldn't have to rent forever


And yes my house is worth a lot more than I paid for it.

Well there you go, for your lifestyle. When I bought my current one and ones before I considered the resale ability in case I had to/wanted to sell. Most importantly, if I died, could the old hag (wife) sell if she wanted to.

 

[1989]

I like the game room, bar, and attached movie room!

But does it come with a catch? Is it in tornado alley?

 

[wayfair]

But does it come with a catch? Is it in tornado alley?

that area is northwest of past tornados

but tornados don't really have rules...lol

 

[UpstateNYUPSer(Ret)]

that area is northwest of past tornados

but tornados don't really have rules...lol

Sure they do:

1. Must take out trailer park.

 

[wayfair]

Sure they do:

1. Must take out trailer park.

The Driver whose wife was killed 3 years ago, was not in a trailer

 

[Scottyhawk]

Condos can be very hard to resell.

Made a profit on mine, but that was back in 2001

 

[IVE GOTTA PACKAGE 4U]

Made a profit on mine, but that was back in 2001

Times are different now. Is the condo 100% occupied?

 

[Orion inc.]

Just like they have 7 year loans on cars or leases. You are letting people buy something they truly can afford.

If you're taking a lease out on a car over 3 years, you're doing it wrong

 

[Orion inc.]

Unless you own a business, no reason to lease a car.

I used to think that too. But leasing can be good and profitable if you're smart about it. I lease the Lexus and it's actually a good deal

 

[oldngray]

I used to think that too. But leasing can be good and profitable if you're smart about it. I lease the Lexus and it's actually a good deal

If you insist on driving a new car every year or two a lease is often a better option. You just need to factor in all of the costs associated with a lease.

 

[UpstateNYUPSer(Ret)]

If you insist on driving a new car every year or two a lease is often a better option. You just need to factor in all of the costs associated with a lease.

Short term leases (< 24 months) are not worth the hassle.

 

[1989]

My father in law least a wood splitter last year.

 

[Orion inc.]

Short term leases (< 24 months) are not worth the hassle.

3,years is optimal. You save on serious maintenance costs and depreciation and you can do well on the residual value when it's up.

 

[1989]

My father in law least a wood splitter last year.

Leased