I just bought a condo last month and going to have it fully renovated.
Condo's aren't the best investment in general, compared to a home, they are the first properties to lose value in a downturn. I didn't buy with investment in mind really, I bought because it was a good enough value and the location and amenities fit my lifestyle, the convenience was important to me. It sounds like those things are important to you as well, and thats plenty good enough reason to buy one if you can afford it.
Saying that, it seems like a fairly steep price given the area, but obviously you know best on that front. It doesn't sound like the rent you could get would cover your costs on the new place if I'm reading that correctly. May not be important, but something to consider.
The price I'll pay per month is the same as what I pay for rent now, that was a big part of easing any worries about the economy for me, I know that I won't be stuck paying any more than now.
What about renovating the one you're in? It would be a pain in the ass to be living there during it (I'm glad I'm doing all mine before moving in), but it might possibly get you the things you like about the new place but for a better value, while adding value to your place.
Condo's aren't the best investment in general, compared to a home, they are the first properties to lose value in a downturn. I didn't buy with investment in mind really, I bought because it was a good enough value and the location and amenities fit my lifestyle, the convenience was important to me. It sounds like those things are important to you as well, and thats plenty good enough reason to buy one if you can afford it.
Saying that, it seems like a fairly steep price given the area, but obviously you know best on that front. It doesn't sound like the rent you could get would cover your costs on the new place if I'm reading that correctly. May not be important, but something to consider.
The price I'll pay per month is the same as what I pay for rent now, that was a big part of easing any worries about the economy for me, I know that I won't be stuck paying any more than now.
What about renovating the one you're in? It would be a pain in the ass to be living there during it (I'm glad I'm doing all mine before moving in), but it might possibly get you the things you like about the new place but for a better value, while adding value to your place.
Americans are dreamers too