- 8 years ago
- Wedding: March 2011
To try to make a long story short, I hate my condo building. The Board, and every aspect of management suck – they terrible at what they do, aren’t fiscally responsible (for example, redid the entire lobby/first floor while we have basically no reserves then assessed us all basically $3500 in order to redo the elevators…priorities fail). I described it to a former neighbor as it no longer feels like a home, it feels like a poorly managed dorm building.
I do like our unit – we put a lot of work and money in to it – and I like our neighborhood (if you know DC, we live between Dupont and U Street).
Anyway – my fiance is slated to mobilize and deploy to Afghanistan a few months after our March 2011 wedding. Our original plan was to use his deployment money and added equity in the condo and move when he gets back (probably spring 2012). We can afford a new mortgage and there are some great places for sale that are what we’re looking for, but we don’t have a big enough down payment for now unless we sell my place, which we need to assume in this market might take time (and I don’t want 2 mortgages!).
Our condo can be rented out for probably $800 more than we pay for it every month – and renting it out means everything associated with it is a write off.
So, should we start casually looking for a house and if we find out, rent out our unit until we want to sell even though we don’t have a big enough down payment…look to move and sell at the same time, or just wait until my fiance comes back from Afghanistan even though condo living is driving me insane….? (We’ve considered keeping the condo as a rental property when we do move, but I really can’t even fathom being tied to the building in any way).
I’m so frustrated!