Just wondering what everyone thinks about both? Im not really sure if I would want to spend 700+ a month on rent when it could possibly be going towards something that could earn a return. Thoughts would be appreciated!
Opinions? Rent an Apartment or purchase Condo?
Just wondering what everyone thinks about both? Im not really sure if I would want to spend 700+ a month on rent when it could possibly be going towards something that could earn a return. Thoughts would be appreciated!
buy>rent
Val for President
I would rather make payments on something that I would evendentually own rather than make payments on something that will never be owned by me.
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How long do you want to stay there?
It usually takes a few years (unless you are in an insanely appreciating market) to get to a position to really make money on something.
Buuuuut... the tax benefits are huge from day one of ownership.
It's almost always an advantage to buy. Most of the time when it's not, it's because the person doesn't stay long enough. But don't forget all of the responsibility that comes with ownership.
I'm really hoping to buy again in the next couple of years. Getting ready to move out to Duluth-land and see if I can take the commute.
2005 Mazdaspeed MX-5 -1.8L Turbo
Definitely planning on staying in Atlanta for a long time, until possibly a job relocation. Tax benefits are always a plus. Ill keep pondering it. Thanks for the feedback so far.
blah.. I would rent over buying a condo any day of the week. Do more research before jumping into a condo.. one of the worst turn around shit ever. Why not just a house over a condo anyways?
read up or ask the pro's on here.. JAIMECBR
Originally Posted by Julio
For sure man, thanks for the tip. Yeah, Im doing my research early so I dont fall into a trap ill regret.
My moms go ta condo in Alpharetta, and the previous owners had it for sel for 5 months. Her next door neighbor had hers up for sell for 6 months. But then another down the street took a lil over a year to sell. Shes looking to sell hers in a few months and already has a couple buyers.
That tells you something... people are getting of them when they can!!
Dude.. buy a house... flip it/upgrade it in under 2 years... and hopefully the area is growing.. and bam.. made a few bucks extra... but make sure you sale before 2 years... =]
buying is good and all if you have the time and money too keep it up. thats why i rent an apartment right now, because with how busy me and my gf are, theres no way we could do upkeep on a house or condo, like lawn care, renovations, minor stuff that comes up, etc
condos are really hard to sell.
i say look into doing a lease purchase on a house..
If you buy in an intersting or established building, it's not AS bad. I would stay away from the slew of condos that are going up everywhere that look exactly the same. These buildings in midtown and buckhead that have 1000's of the same condo... might be hard to get rid of later.
But, if you really do plan on living in it for many years, it still could go up in value.
Personally, I want a house though. I could so easily buy a condo, barely have a commute, stay in the same area but it's just not what I want.
2005 Mazdaspeed MX-5 -1.8L Turbo
Dan and I have owned for 6 years. It's a lot of responibility. We want to sell it now, but it's not a "sellers market". Being that Dan and I have a house for 6 years, I would day buy a condo as opposed to a house unless you have a lot of time on your hands. With a house, you have to mow grass and clean gutters, etc. When you go to sell you have to paint, power wash, plant flowers, reshingle.....blah blah blah. In a condo most of the time you pay an association fee. The cover maintenance. No grass mowing da da da da. Dan and I want to sell to buy a condo....that's our 6 years of owning for ya.
oooh....well...what she said...
If you don't have time for a house, I would get a townhouse over a condo. HOA will cover all exterior maintenance, and you still have greenspace. There is a market for condos, but I'd say a townhouse is 3 times easier to sell. Living in a condo is like living in a hotel. Hearing your drunk neighbors going down the hall at night sucks. Most townhomes have atleast 1 garage, which is a lot better than parking outside, or in a parking deck. Another thing, I would guess 75% of buyers are looking for atleast a 3bdrm, 2bth something. Thats a lot easier to find in a townhome.
just my
why theoooh....well...what she said...
why the
umm i dunno i geuss cuz i suck at explaining shit. Your explenation made alot more sense then mine.
Great advice and personal experience. Reps all around. This is what I wanted to read. Thanks!
P.S.
I say buy a condo until you're ready to have kids.
Agreed. I owned a house in SC and daaaaamn. Having to all the sudden buy a water heater and find a plumber to install it on a weekend sucks. Cleaning gutters sucks. I still don't know how to use a lawnmower... I just didn't have any grass.
You have to think about how much you want to put into it.
2005 Mazdaspeed MX-5 -1.8L Turbo
buy a house in Conyaaaa's
twoONEoh
Buy a house/condo/townhome, tad bit more expensive. But well worth it in the long run. Why waste money on something you will never own or make money off of. Buying a house was the best thing i ever did. In Townhomes and Condo and certain neighbor hoods w/house have a lil' something called HOA which alot of times do the stuff you dont want to like mo the lawn, clean the gutters, ect ect. You can also buy a warrenty on the house so if something fucks up it covered.
All I have to say is.. if you are complaining about house maintance and paying HOA's and other Bullshit like that you are not ready. NOT READY.
buying a house " simply because " you can make money in a few years is the dumbest reason to buy a house..... you never know what may happen.
Buy a house because you are ready to buy a house.. if you have to ask on a message forum or any other person for advice .. you are not ready to buy a house...
Buy a house when you are financially ready and will not live PAY CHECK TO PAYCHECK... I know Plenty of people in that situation right NOW. Yeah, is cool you have assets... but what good will it do if you are broke every week.. hhahah working to be tired.
fuck that.. .. hahhha
this is for dayum sure... we bought our first home two years ago, after moving in we spent 5+k in upgrades/appliances/extra furniture... my house payment was only 900$ a month for a 3br, 2bath, 2 garage, on 3/4 acre fenced lot in lawrenceville... but owning a home does have its ups/downs...
downs: yard work, home upkeep, neighbors (your stuck w/ them), etc
ups: its $ in your pocket (i just did a refi to pay off a car... you can't do that w/ rent)
i have looked at homes between north ATL and buford area and have found that for the price range im looking for it would be best for me to buy a town house/condo now. all the homes i went and looked at we either in bad neighbor hoods or need to much work for me to just move into.
One Big Ass Mistake America
loganville,grayson,sneville... good prices.. some with nice size yards etc... im telling you.. these are the spots...
and if you want to go about 8 more miles past buford.. flowery branch also nice area...
move to the outskirts and buy property & build. Plenty of money to be made, build, live in, sell... repeat. Or sit on some land that is neighboring a semi busy suburb, and when it expands years later, your rich. I paid 3,500/arce 5 years ago, sold for 13,500/acre 2.5 years ago, now the land was just sold for 53k/acre I would be kicking myself in the ass right now, but I'm waiting on my wife to get home so I stick my foot up her ass because she crushed my rear fender in with her Tahoe...
with all the land I have now (8.9acre lot) and a 2240sq ft home I have roughly 65k tied into everything... I just had it appraised so i could start building a shop and it is said to be worth 183,XXX I could probably sell it for 175k within a month I would figure.
Last edited by FAHHQUE700; 12-12-2006 at 10:08 PM.
I, personally have never owned a house/condo/townhome before (live with my parents atm). I've done a lot of researching what would be best, and I always come up with buying a house/townhome being the best bet. Condos are nice and all, but they are tiny and feel more like an apartment. They are also harder to sell unless they are in an area that is popular. I personally plan to buy a townhouse when I finish college. The Home owners association should take care of the appearance stuff, I can have my small garage, and I can have enough room to hold all my stuff.
IDK, this is just the opinion I've built from looking things up and listening to my parents. I'm still too young/poor to move out.
BUY NOW!
the Condo market is litterally flodded right now. I wouldn't buy 1 now b/c in a few years(or less) they will be much cheaper. supply & demand
My house has an association fee and that includes mowing the grass and stuff like that...
Val For President
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I heard our the condo market is definately a buyers market right now... so many condos are for sale... if you buy w/ intent to sit for a while you can get a great deal on a condo... but renting is a waste if your paying 800+... you can easily get a house in the burbs for that.
WHAT UP BOPPER OOPS I MEAN TRACY OMG
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