Reply With QuoteYou should "buy" as soon as it's feasible for you, renting is a huge waste of money. If all you can afford is to buy a condo than do that, maybe later on you will be able to afford more in which you can sell the condo. Either way buy property as soon as it's possible. As far as a down payment, you only need 3%, maybe your parents will even help you with that just to get you out of their house!
Condo or Co-op. What should I get??
View Poll Results: what should i do?
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CONDO.
3 100.00% -
CO-OP
0 0% -
Rent an apartment
0 0% -
Live with my parents till I'm 30 and buy HOUSE
0 0%
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10-11-2003, 04:06 PM #1Member ELITE MEMBER
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Condo or Co-op. What should I get??
Hey all.
I want to move out of my parents house finally. I live in NY metro area and rent around here for an apartment is nuckin futs. I was looking into coops or condos also and found that the monthly payments for these are almost the same as rent. So, to me it makes sense to start a mortgage rather than rent, because it's an investment. The only hard part is the down payment, which i will be able to do in a few months of hard saving.
What should i do? Any tips would be greatly appreciated! I made a poll too, so vote!
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10-11-2003, 04:19 PM #2I'm CEO, Bitch! ADMINISTRATOR
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10-11-2003, 04:38 PM #3Bohemian Extraordinaire ELITE MEMBER
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Mortgage the condo as Prince says, but instead of selling it later you can rent it to some sucker.
Coarse edged youth, the irish pendants string from their smiles
not yet plucked as to slacken the seams
and drag down the features of age,
no folds or creases from unkempt wear
eyes of tranquilty, crystalline-beads
no sign of despair in their hair, nor their hearts
but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012
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10-11-2003, 04:50 PM #4I'm CEO, Bitch! ADMINISTRATOR
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IF you have enough down payment for your next piece of poperty, which many people do not, they have to sell one to upgrade to the next.
Also, most people do not want the hassle of owning rental property, it can be a great investment, but it can also be your worst nightmare!
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10-11-2003, 08:50 PM #5Member ELITE MEMBER
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Thanks for the input. I would probably have to sell it if I decide to upgrade to the next property like prince said. I would like to get a house in the end. That is why I think it would be better to buy rather than rent.
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