ADVISE - We should buy a condo and not rent an apartment right?
meganNbobby
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ADVISE - We should buy a condo and not rent an apartment right?
this is a wise thing right? we're really nervous, we're not getting married unti lnext september but we decided to buy a condo instead of renting and throwing away money?
MarcellaBella
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Re: ADVISE - We should buy a condo and not rent an apartment right?
if you can, then DEF do it!! better to own something!! and when you buy a house you have hte option of 2 things, a) renting out the condo and letting it pay for itself or b) sell it and use that money towards a house..
good luck and congrats!
where are you buying?
Mandy77
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Definitely buy!!! Renting is just throwing away money!
FM if you have questions about buying, I'm a Realtor.
jvs77
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Yes!! Never ever rent if you can afford to buy! Buying a condo or a home is the best investment you can make!
Xelindrya
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Re: ADVISE - We should buy a condo and not rent an apartment right?
If you can..buy.
We're renting because we need to improve our credit. No one would let us buy, I'm sure!
I'll fix up my FH's credit if it kills me!
kelly6273
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Buying is always better then renting! Go for it, don't be nervous!!!
jvs77
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Megan,
Have you considered possibly buying a home and renting part of it out? That's how FH and I were able to afford our first home, and now we're looking to purchase our 2nd! When we got our first home 3 years ago, we were going to get an apartment, but my father, a real estate broker, told us that we would be crazy not to buy! We crunched the numbers, and discovered that we could afford a home! FH and I actually got our real estate licenses recently, and now we're working with my dad. I posted on the 'Home' board about the benefits of buying a house, despite the prices. ('Homes on LI continue to rise' thread.)
If you have any other questions, please ask away!!
Best of luck to you and you FH!!
Valenia
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Re: ADVISE - We should buy a condo and not rent an apartment right?
I agree with the others who speak the virtues of buying, but want to check on one fact -- are you likely to stay in the same place for five years? Can you afford a place that will meet your needs for that long? If so, go for it. I just never want to encourage anyone to buy if they are going to need to 'upgrade' in two years...
chmpgnrose
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Re: ADVISE - We should buy a condo and not rent an apartment right?
If you can--go for a condo. Home ownership is an investment, it feels good to own something. We own our cooperative apartment and now planning on buying a house. We hopefully plan to buy in 2004 or 2005 and sell our co-op apt. the same time.
lulu
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Re: ADVISE - We should buy a condo and not rent an apartment right?
We are in the process of buying a co-op right now. We were looking for a place to rent and a co-op in complex we like was put on the market so we decide to buy it. For us it works out much better since we are paying less per month than the place we were going to rent, plus we can sell it in 3 years when he's done with school and use that money towards a house.
Alvatorre74
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Yep Buy if u can...I bought a coop 3 yrs ago and some people pay more RENT than I do for maintenance and mortgage
Maribelle7777
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Re: ADVISE - We should buy a condo and not rent an apartment right?
if you can, do it. you'll have equity and if you can't sell it when the time comes see if you can rent it out. in fact ask if you can do that when your'e looking.
kathy2176
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Buy, buy, buy!! My FH and I want to do that. We don't have the money to do that now. We are going to stay in a small studio in my aunt's house until we have enough of a down payment for a condo. Good luck!!!
littlecat
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Re: ADVISE - We should buy a condo and not rent an apartment right?
Is it a co-op or a condo. Big difference. It is always better to own than to rent because you can write off you mortgage interest and real estate taxes on your tax return.
With a condo you actually own your place but with a co-op you don't. You own shares in a company that owns the co-op. When buying a co-op you must look at the financial statement to see how secure the company is.
