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50215842 No.50215842 [Reply] [Original]

Well a condo. It's a 3 bed/2 bath + den in a really stable part of my city. Already have 3 friends planning to room with me for cheap, so my housing costs will be almost nothing.

Real estate anons - what else should I know going into this?

>> No.50215914

>>50215842
>roommates
Top kek. Idiot.

>> No.50215947

>>50215914
I'm 24, I've had anywhere from 1 roommate my freshman year to 67 idiots in my fraternity house 3 years ago. And they pay my mortgage. I don't see the downside here?

>> No.50215951

>>50215842
>housing costs will be almost nothing.
You're living with 3 other Pajeets. Turn your fucking brain on.

>> No.50216053

>>50215842
>Already have 3 friends planning to room with me for cheap
That's the beginning of your problems anon.

>> No.50216214

>>50216053
Well I do that right now with a friend of mine that bought a place a year ago, what's the issue?

>> No.50216251

>>50216214
Idk it could be fine but it could be that they don’t take care of your place and you grow to hate them.

>> No.50216299

>>50215842
make sure if they all walked out tomorrow you could afford the mortgage payments on your own. don't rely on that money and tie it up on something you don't need.

>> No.50216317

>>50215842
Condos are only good when it's brand new, after that the building goes to shit, the hoa fees increase, and the yuppies will be in love with a trendier and newer building

It's over

>> No.50216322

>>50216214
Are you and your friends close? or just colleagues?
Privacy, drama and so on can be the issue though.

>> No.50216342

>>50215842
>living with grown men
gay

>> No.50216642

>>50216317
It's a 90 year old building in a dense city with lots of old buildings

>> No.50216694

>>50216642
What are the HOA fees? How's the exposed brick, what's the hustle and bustle like?

>> No.50216740

>>50216642
Detroit?

>> No.50216983

>>50215914
It's really not too bad to have roommates. I'm 27 and still have a roommate just because I'm there half time and we get along well enough. Although I'm being partially dishonest since its a she and I would like to fuck the shit out of her but beats paying an extra 300-400/mo for a place I don't really need as much.

>> No.50217113

>>50216694
HOA is $345/mo.
>how's the exposed brick, what's the hustle and bustle like?
lmao
>>50216740
chicago, lakeview specifically

>> No.50217352

>>50217113
What foes the HOA provide for $345/mo?

>> No.50217450

You were smart to buy to eliminate living expense in a secured arrangement (if it is) but do not buy more property. You literally bought the top of the biggest housing bubble in history.

>> No.50217487

>>50217450
Condos in select urban markets actually didn't increase too much in value the past couple years. It's very market specific, but wouldn't surprise me if Chicago is one of those markets.

>> No.50217537

the markets that will collapse are Austin, Boise, Phoenix, Nashville, Raleigh, etc.

I don't think Florida will collapse, unfortunately. I want to move there, but with DeSantisstan now being the land of freedom and no income taxes -- i think Florida real estate prices are actually based on sound fundamentals.

>> No.50217680

>>50215842
Condos are the first thing wiped out in a housing market crash congratulations you should of bought 3 1/2 years ago like everyone else who wasn’t a dumbass.

>> No.50218027

>>50217450
All that matters is what the rent versus buy ratio is in that area. Rents never go down unless you are in a depressed shit hole like Detroit. Buying with a fixed rate is an inflation hedge because your "rent" is fixed for the life of the loan. When I bought my place, rents were $1200 while my mortgage was $1500. Fast forward today and rents are now $2000 while my mortgage is $0. All I pay is $200 in property tax and repairs when needed. If it costs double to buy versus renting then sure wait for prices to come down.