2006-07-24 08:18:29 · 7 answers · asked by A diva D 1 in Home & Garden ➔ Other - Home & Garden
Those are not mutually exclusive categories. A loft can also be a condo. A condo is just the legal form of ownership, usually of some kind of apartment, be it loft or traditional apartment. A loft usually means a big open space, probably converted from some industrial use. Lofts or traditional apartments can be rentals or condos.
2006-07-24 08:23:51 · answer #1 · answered by rollo_tomassi423 6 · 0⤊ 0⤋
The most important thing is that you'll need 20% down and the cost of homes, condos, etc. have risen quite a lot in the past few years. You'll need to consider the cost of the loan repayment (how much you can afford per month according to your income), the interest, the taxes, the insurance (which has doubled recently). Once you know those figures from your income see which type of accommodation you can afford. You also have to figure that it's expensive too to fill that home with furniture. In addition you'll probably be paying for your transportation and gas is not only expensive but is getting more expensive. When you buy a condo it's not your decision when the place needs a roof, but it's the decision of everyone as a group, so you have to pay up when you don't expect that extra bill. As I know it, it's a seller's market out there now, and if you have the money to buy, and are ready to settle to a particular community, and can get an insurance company to insure the place, then go ahead and buy. You need to first go to a bank and get approved for a mortgage loan. They will tell you how much they will loans you. Then go to a real estate agent in your area and ask what's available for the amount the mortgage company will lend you. The agent will keep you in mind when some good deal comes on the market that you can afford.
2006-07-24 15:30:56 · answer #2 · answered by sophieb 7 · 0⤊ 0⤋
Condo! Just got a townhouse myself!
2006-07-24 15:21:44 · answer #3 · answered by lolitakali 6 · 0⤊ 0⤋
I don't know. What is your personality like? Do you like big, wide open spaces? How long are you planning on staying in one place?
2006-07-24 15:27:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Take the best deal- but consider re sale value-
2006-07-24 15:39:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
1.Location
2.Location
3.Location
4.What ever you could afford.Refer to answer number 1.
2006-07-24 15:23:03 · answer #6 · answered by Joe P 4 · 0⤊ 0⤋
depends they are both investments.
2006-07-24 15:22:28 · answer #7 · answered by h_wallbanga 4 · 0⤊ 0⤋