Thinking of buying a condo

posted 3 years ago in Home
Post # 3
Member
177 posts
Blushing bee
  • Wedding: November 2015

@Macintosh:  I’m glad to hear your DH is doing better! I’m a condo owner, also in the Chicago suburbs. I bought my place (1 bd/1 ba) 2 years ago, I may be a little fuzzy on details, but feel free to PM me if you have questions.

I got a really good deal on my condo and what I pay for my mortgage + association fee is definitely less than rent in this area, even when factoring in property taxes. Right now it’s just me, my BF, and my cat, so a 1 bd place is fine. Sometimes I wish I had held out and saved up for a townhome- maybe something to consider if you’re thinking about starting a family and thinking about space.

Again, feel free to message me with any specific questions!

Post # 4
Member
482 posts
Helper bee
  • Wedding: June 2010

I think you guys should do it!  Home ownership is a great feeling!  I am glad your DH is doing so well! 🙂

Post # 5
Member
3 posts
Wannabee
  • Wedding: April 2014

@Macintosh:  buying vs. renting is a big decision. Please understand that there are a lot of hidden costs many dont think about when purchasing a home. Home owners insurance, HOA’s, upkeep, etc. all add to the $$$ you spend annually.

I am so happy for the decision i made 3 years ago to buy my house, but it has come with some unforeseen costs.

Post # 6
Member
123 posts
Blushing bee
  • Wedding: December 2014

Hi there! I am a real estate agent, and worked in SF at a condo association for 5 years.  I know ALL the ins and outs of condo living. Condos are GREAT!  They make terrific “starter homes” and get you “in” the market so you can move up later if you need more space, etc. Also, depending on where you live, rent can be HIGH.  If you chose to upgrade down the road, you can always rent your condo out.  Let me know if you have any specific questions…this is my passion 🙂

Post # 7
Member
823 posts
Busy bee
  • Wedding: December 2013

A townhome will generally give you more space, however, it might be hard to find a ranch style where everything is all on one level.  I would think a ranch would be easier on your husband.

I don’t know what suburb you are in, but will a condo give you the square footage you need?

Post # 8
Member
123 posts
Blushing bee
  • Wedding: December 2014

@m79kaplan:  I agree, and that is the beauty of owning a condo, honestly.  Owning a home can be expensive with maintenance, etc.  If a roof leaks, it is YOUR responsibility to get it fixed! However, many condo associations (HOA’s) include maintenance, ie; roofs, landscaping, exterior painting, water, sometimes even gas and electric.  I think condos are great!  Just my 2 cents 🙂

Post # 9
Member
3476 posts
Sugar bee
  • Wedding: May 2012

Condos are good because you have limited maintenance.  The downsides are: constant HOA fees, and oftena  lack of green space – that is particularly driving us a bit batty.

Also, depending where you live, you’ll likely have a narrower pool to chose from.  I live in Boston, in a land with limited elevators.  So your husband would need to find a first floor unit here (and actually, not even possible in my building as there are a handful of steps up to the first floor).  If you live in a more “modern” city this may not be an issue and they may have acceptable elevators (not the tiny things your husband wouldn’t be able to fit into).

It’s also more difficult to have a family in a condo.  Possible, but I’ve noticed families struggle with the gear (strollers etc), keeping it in the apt or out by the landing and pissing off neighbors by cluttering it up.  So look for a family-friendly location if you think you’ll have kids soon. 

Post # 10
Member
661 posts
Busy bee
  • Wedding: May 2012

Will your DH have continuing medical issues? 

A friend of mine from high school as engaged to a guy who lost his arm in an accident… They got married and used the settlement money for a down payment on a house… She is always complaining how he can’t get insurance and how expensive everything is… They are drowning in money problems and wish they could move but can’t get out of their house without taking a hit…

I hope things work out for you! G/L

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