Rule No.1: Never rush into buying a condo unit It’s human nature to buy on impulse. Very often people fall in love with a good-looking car and buy without giving it a thorough mechanical inspection.
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Financially we’d be perfectly fine buying and permanently living in a beach front condo and renting out our town house. However, after looking at all of the pros and cons of actually living in a beach front condo it just wasn’t worth it to us. There are definitely some awesome pros of living in.
What Price Condo Can You Afford on Your Income? Before you step foot in an open house, you need to know how much condo you can afford. For example, if you make $50,000/year, you cannot afford a $300,000 condo, unless you have a secret trust fund.
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Unless a condo community is a brand-new construction looking to welcome its first group of condo owners, you might want to think twice about purchasing in a community with many properties for sale.
Buying a condo typically involves all of these things plus a whole lot more. There are questions that every buyer should ask before buying a condominium. One of the biggest things customers fail to understand about buying a condo is that they will usually be buying into a community where some rules and regulations must be followed.
buying home with no down payment If coming up with a down payment is a struggle, an alternative to buying a house with no money down is an FHA loan. The FHA does not offer a no-money down loan. However, they do allow for loans with a down payment as low as 3.5% of the home’s purchase price.
Are you looking at buying a condo as an investment? If so, how do you know if a condo is a good investment? There are several calculations you can go through, and questions to address, to determine the answer.
The Condo Purchase Timeline: How Long Will It Take? You’ve decided to get into the market. And now you want to know how long until you’ve found and moved into your dream condo: a month, a year?
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Assigning or “flipping” a condo unit is risky for both parties, so be sure to get legal advice from someone well-versed in.
Whether the price tag is in the hundreds of thousands or millions, all of the necessary preconditions to making an informed.