We go into contract tomorrow! We decided to buy now and rent it for the next year. This way, we can build some equity and at the same time we can definetely afford to pay the difference between the tenant's rent and the total mortgage/common charges, taxes, etc. We'll still be able to save money every month additionally so that next year we can either upgrade and buy a bigger place or keep saving for a future purchase. The last time a unit similar to ours was sold, it was bought for $20K more than what we purchased our for. So, at minimum we are sitting on $20K of equity. It is such a great feeling to own something!
MCDO15
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Member since
Re: We bought a condo!!!!!
Posted by ItalGrkWedding
We go into contract tomorrow! We decided to buy now and rent it for the next year. This way, we can build some equity and at the same time we can definetely afford to pay the difference between the tenant's rent and the total mortgage/common charges, taxes, etc. We'll still be able to save money every month additionally so that next year we can either upgrade and buy a bigger place or keep saving for a future purchase. The last time a unit similar to ours was sold, it was bought for $20K more than what we purchased our for. So, at minimum we are sitting on $20K of equity. It is such a great feeling to own something!
that is great...we just invested in a co-op and plan to do the same (if we can sub-let) if not, still equity
where is it located
Bella Blu
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Re: We bought a condo!!!!!
Thanks......it's in Bayside, Queens. I saw pics and a description of your co-op....great kitchen and that's great to have a backyard area!
