Condos

[Slingah]

Skip
I just moved out of one, into a house. Just do your homework and like fishsmith said ...dont forget bout the fees that you have to fork over every month. It can be a good way to go if you find the right deal. Dont buy anything to old or you will be paying SPECIAL ASSESSMENTS....also most places have restrictions telling you what you can and cannot have like boats, motorcycles..etc.

[Clogston29]

Condos have there pluses but if your like me, after about a month of living in one you’ll be ready for a house. Problem is that you have to live there long enough to make the purchase (closing costs, about 3000) and cost of the sale (realtors fee 5-6%, etc.) worth while financially. I’m actually selling mine now due to a death of my wife’s family and the opportunity to purchase a house with help from her dad and we’re taking a pretty big hit on the sale of the condo since we were only there for a year (no real equity or appreciation). Just make sure it’ll be what you want for a while or it could end up costing you more than just renting.

[zacs]

Was reading this article and thought of your post.

http://realestate.msn.com/buying/Art...umentid=710370

[Karl F]

All Good Advise, and like Slingah said, check the restrictions!
I know a guy who bought one, then, one month later was informed by certified letter from condo assoc. he had to not park his pick up there! Restriction against trucks.. he thought it meant work trucks.. his was a half ton ex cab shortbed, tonneua cover, with alloy rims and leather seats, nice paint etc... nope.. that's a truck, get it outta here... he is still bummin, he traded for a new yukon, and that's OK with the condo assoc.... go figger.
His payback.. he is putting Flowmaster's on it, and a 2500 watt soundsystem in it nothing in the restrictions about that...