Originally posted by jtour:
Originally posted by MxRacer:
i would be very careful about buying a condo/townhouse. make sure the local market will support you reselling it within a timeframe that you feel is realistic (probably 5 years-ish). it's very likely you'll want a single family house after a few years, and condo's are notorious for being hard to re-sell.... plus the housing market is about to get a lot softer for sellers. don't count on getting any equity from a condo within five years unless the market will support it.

i'd seriously investigate as much as possible with someone other than your realtor.

good luck!



True, but I would look into keeping the condo and renting it out. Look at the renters market. You would be surprised how many people are looking to rent because of how hard it is to buy. Do some more research.



if you can swing a nut on two mortgages, more power to ya... but remember, that place isn't always occupied. paying two notes would tap most young people out VERY quickly. for someone buying a first home, it may not be the best idea. (i should know... i just moved out of a condo, and several neighbors can't get out from under theirs!)

02 Mustang GT... Tuned by Nelsons. Low 12's, anyone? .....______ ___|______\_____ |/-\_________/-\_| .\_/...............\_/