In high school there was a young man, let’s call him Jon. He drove a not so nice car though out high school, but what he really wanted was a 1997 Honda Civic. They were the coolest thing going. They were affordable, decently fast, had a sporty look, and were a great high school car. Now Jon did not have much income in high school, and would have had trouble buying a 10-15 thousand dollar car on his own. The costs were just not feasible at the time, but he wanted a car just the same.
Jon Graduated high school and went on to college, where having a nice car, or even any car at all was a huge luxury, and could be easily done without. Jon realized that if he had spent all his money on a car in high school, and making payment though college that it would have been a foolish mistake. The car would be been four years older, it would start to break down, and he would have had trouble paying for it.
After College Jon did not even want a 2006 civic, let alone a 1997 model. If Jon had bought the 1997 civic odds are he probably would still be driving it. He realized that often short term wants should be put off to meet a longer term goal that is a lot more profitable. Driving a junker in high school and college was the best thing for Jon.
That is how I feel about condos. Yeah I could afford one, and you can usually get a newer one in the area that you want to live in, but it’s a condo. Condo’s work for single young people with out pets, who don’t need a garage, and don’t mind that you will never get any appreciation on it beyond the rate of inflation. I feel the only reason I would buy a condo is because it is new. In 5 years or so I go to sell, its 5 years older and not as nice. Am I going to show lots of appreciation for my no-so-new condo? I would say no, especially with new condo complex’s being perpetually built just down the street…. So yes I want a house with a yard, and no condo fees. A condo would be a short sighted fix for me, when a house would be a much smarter longer term goal.
So I wait….
Hmm, I noticed you haven’t expounded on this theory to me, your fave sis condo owner, yet. I do see your points, but I will say, I never have to worry about repairs beyond the the interior walls, I was able to get significantly more square footage than if I purchased a free-standing house, no yardwork, I’m now renting it out and making $200/month….Not to say it’s the best idea ever, because I had crazy neighbors who smoked massive quantities of cigarettes in the house and haven’t paid association fees in like 2 years. But, it’s worth noting a few advantages.
Interesting! I hadn’t looked at it that way!
not interested