Current Events > are condos worth buying?

(+) Yeah! (+)

i used to think "lol condos, all the responsibilities of a house with all the negatives of an apartment"

but i live downtown of a major metropolitan city and don't want to move. houses here are extremely rare, old, insanely overpriced, and not as good a location as I'm in now

however there are decent condos that are greatly located and very new/nice. downside is they are the more expensive than a larger/nicer house outside of downtown

are condos worth buying in my situation?

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With a condo you dont have to worry about stuff such as mowing the front lawn, shoveling snow in the winter, or maintenance.

however you have to deal with the HOA and the limitations they impose and you have to pay the condo fee.

condos are safer, there is only one entrance into your condo, and breaking in to rob stuff just so they run through a couple flights of stairs seems impractical for a robber. However you have neighbors that may complain about noise and stuff like that

Hell no, get a house. A condo is just a glorified apartment but you'll still hear your neighbors or have to leave the place an idiot decides to fuck around with the fire alarm. There are also certain rules to follow for condos where as having a house grants you more freedom.

The_Bitcoin posted...

With a condo you dont have to worry about stuff such as mowing the front lawn, shoveling snow in the winter, or maintenance.

however you have to deal with the HOA and the limitations they impose and you have to pay the condo fee.

This so much. Don't do it.

The_Bitcoin posted...

however you have to deal with the HOA and the limitations they impose and you have to pay the condo fee.

wat limits do they have? curfews?

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Depends on what you want from it I guess. If you don't care about changing things up drastically inside, like construction wise, then I don't think it matters too much.

I'd think the main aspect would be noise
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I'm pretty low maintenance, so things like neighbors and noise don't bother me at all. I'd be in a downtown condo/apartment if I felt comfortable paying the price. I love the idea of having a high story loft with a view or something
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Yeah man, especially if you buy a house too. Then you can have a nice place in the country side and a place in the city.

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MedeaLysistrata posted...

Yeah man, especially if you buy a house too. Then you can have a nice place in the country side and a place in the city.

i've thought about that too, but sounds like a lot to handle. looks like going forward my job will be work from home, so i'd rather just have one nice spot

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Worth buying over renting, though a house is still better. But you can always rent out your condo when you are ready to buy a house. My brother did this with his condo. It just pays for itself at this point.

Cleo_II posted...

Worth buying over renting, though a house is still better. But you can always rent out your condo when you are ready to buy a house. My brother did this with his condo. It just pays for itself at this point.

if you want to get into the math, my rent is currently $800 a month....the condo would cost $2.5k a month. the condo is one block over from my apartment. i believe the math still favors the condo long term, but ouch...that's a lot more money

and before anyone asks, yes i can afford that

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No_U_L7 posted...

if you want to get into the math, my rent is currently $800 a month....the condo would cost $2.5k a month. the condo is one block over from my apartment. i believe the math still favors the condo long term, but ouch...that's a lot more money

and before anyone asks, yes i can afford that

Thats freaking cheap rent. Honestly, Id take my time and save for a house over a condo for that much of a price difference. My husband and I stayed in a 1 bedroom apartment for 5 years while saving. We were very tempted to upgrade to 2 bedrooms and almost signed on a least but just opted to save instead. It was worth the wait. The HOA fees here are ridiculous for condos ($300-400)

Condo was a better deal for me than an apartment in all aspects except security (mid-rise apartment vs ground entrance condo) and being able to walk to stores and the metro stop instead of driving <2 miles for everything

Mortgage and condo fees come out to $300 less than rent for double the space as I build equity

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There's more types of condos than just an apartment style one. There's ones that look like row houses where you share the side walls. There's also some that are pretty much a regular house except you have communal areas outside that are for everyone in the complex.

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Read title as "are condoms worth buying?"

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I was thinking of buying a condo. I like their small size for a minimalist such as myself, and seems like a better investment longterm then renting.

Most of the problems mentioned above can probably be reduced by doing homework on the condo and making sure they dont have a history of raising the HOA absurdly every few years for no reason. And fucking over the residents regularly also.


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Only if you plan on using it as rental property.

Starks posted...

Read title as "are condoms worth buying?"

https://www.youtube.com/watch?v=9BcjuuR-9GM

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No_U_L7 posted...

wat limits do they have? curfews?

OMGEEEHHHHH YOU HAVE FURNITURE IN YOUR DECK AND IT LOOKS LIKE INDOOR FURNITURE AND NOT GARDEN FURNITURE!!

OMGEEEHHHH YOU HAVE A WOLF!! WOLVES ARE DANGEROUS AND BANNED! (Its a malamute and its super sweet)

OMGEEEHH YOU HAVE A WIND CHIME!!!

What's the difference between a condo and an apartment?
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teepan95 posted...

What's the difference between a condo and an apartment?

a condo is an apartment you own

Jiek_Fafn posted...

There's more types of condos than just an apartment style one. There's ones that look like row houses where you share the side walls. There's also some that are pretty much a regular house except you have communal areas outside that are for everyone in the complex.

I guess I'd call those townhomes,but they are usually used interchangeably
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Cleo_II posted...

Thats freaking cheap rent. Honestly, Id take my time and save for a house over a condo for that much of a price difference. My husband and I stayed in a 1 bedroom apartment for 5 years while saving. We were very tempted to upgrade to 2 bedrooms and almost signed on a least but just opted to save instead. It was worth the wait. The HOA fees here are ridiculous for condos ($300-400)

my rent is 50% of rent in my area, and my place is still decently nice. really makes me hesitant to move

i can afford a house, it's just that i really want to stay downtown

MacadamianNut3 posted...

Condo was a better deal for me than an apartment in all aspects except security (mid-rise apartment vs ground entrance condo) and being able to walk to stores and the metro stop instead of driving <2 miles for everything

this is my thought process too

Prismsblade posted...

I was thinking of buying a condo. I like their small size for a minimalist such as myself, and seems like a better investment longterm then renting.

yeah i live alone so really don't need that much space

Jiek_Fafn posted... There's more types of condos than just an apartment style one. There's ones that look like row houses where you share the side walls. There's also some that are pretty much a regular house except you have communal areas outside that are for everyone in the complex.

i don't think those really exist downtown, there are some on the edge of downtown

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Depends on the renting vs owning market in your area

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emblem boy posted...

I guess I'd call those townhomes,but they are usually used interchangeably

I call them townhouses too, and I think theyre the best of both worlds

The_Bitcoin posted...

OMGEEEHH YOU HAVE A WIND CHIME!!!

they complained about this in portland lmao.
it was on the hall of shame :(.
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Worth it

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Maintenance fees creeping up over the years is the biggest problem. Humans as a group do not think long term. Fees start out low because no one wants to pay anything, but after preventative maintenance keeps getting put off fees raise to astronomically high levels to repair broken things.

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The_Bitcoin posted...

teepan95 posted...

What's the difference between a condo and an apartment?

a condo is an apartment you own

I see

We just call both flats
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You're essentially buying air. Maybe once you're old and retired and just need a place to die with minimum upkeep.
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kingdrake2 posted...

they complained about this in portland lmao.
it was on the hall of shame :(.

you guys have a hall of shame?

lilORANG posted...

You're essentially buying air. Maybe once you're old and retired and just need a place to die with minimum upkeep.

are you sure of the upkeep part? Condo fees are a b****