Hi, I am 23 years of age, I would like to buy an apartment the problem is, what it be a good idea to buy an apartment or a house? I only make at least $30,000 a year at my job. Also, if I do buy this apartment, would it be a good investment when I want to sell it? Need help!!!
2007-01-05 04:35:32 · 13 answers · asked by D 1 in Business & Finance ➔ Investing
Well a house is usually a better investment because 1. People like to have there privacy and apartments don't offer as much 2. You have more ways to increase the value of house with improvements. and 3. What is the great American dream! But the other factors to look at is the location, (City,suburb or sticks) Also look at the areas growth and potential. Are there new jobs coming in and is there room for more building! There are more factors to look at but these are the bigger ones! Hope this helps!
2007-01-05 04:48:37 · answer #1 · answered by mrjamfy 4 · 0⤊ 0⤋
Real estate is always a good investment. If you are able to buy a place at 23 then I would say go for it. The best thing to do, is to purchase a place and stay there for about 5 years. Then you have equity in the place and can make some money. Now, you can not buy an apartment as far as I know, it would either be a condominium or a co-op. Now, a condo is a good thing to buy where as I would not recommend a co-op. A condo you actually own and can make changes. A co-op you are actually paying the mortgage of all the units. THere are also large fees with a condo and co-op, but a condo is usually just maitenance fees. Be sure to look into all the fine lines before you purchase. Good luck!
2007-01-05 04:50:20 · answer #2 · answered by dnelak 2 · 1⤊ 0⤋
Absoultely the right time, if U have the moolah. Both have its own attendant advantages and disadvantages. 1. An apartment comes with a) Security b) As problems are shared, more easily resolved c) In case of water shortage etc, easily handled as there will be an association to maintain things d) An inconsiderate neighbour can drive you nuts. e) Toilets of those above U, can leak and make ur walls a mess f) If U have ground floor, and the apartment does not have sufficient parking space, U can find ur door blocked by haphazardly parked vehicles. 2. An Individual House comes with a) Privacy b) Flexibility to expand at a later stage c) More value for property d) Built to your specifications and comforts e) Nobody else to help U in case of problems f) U have to run from pillar to post to fix sewage problems, water problems etc g) U have to put in a lot of security gadgets to help stay secure. h) In Bangalore, cost of buying Individual house is prohibitive. So, take ur pick......and have ur "Dream" Home.
2016-03-29 09:04:21 · answer #3 · answered by Cheryl 4 · 0⤊ 0⤋
Condos/Apartments are great value too you just have to remember the monthly maintenance $ you will have to pay.
It also depends where you live as ot what's hot on the property value.
You should visit your bank and get preapporved so you know how much you can actually afford before aimlessly running around town wasting your time and be disappointed because you cannot afford the property you looked at.
2007-01-05 04:45:45 · answer #4 · answered by MsCatie 3 · 0⤊ 0⤋
buy a house
2016-06-24 23:43:40 · answer #5 · answered by Ram 2 · 0⤊ 0⤋
There are many different catagories that are involved in the purchase of property. One of the main one is where do you live? Property value is a critical thing, you need to know how much appreciation each year you will recieve? Second, how much can you afford, and what your goals are that you are trying to accomplish?
2007-01-05 04:53:43 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Buy a house. It is the best investment you will ever make.
2007-01-05 04:44:35 · answer #7 · answered by Smelly 2 · 1⤊ 0⤋
DON'T buy an apartment I know this because I have been there.Anyway there is no such thing as a perfect apartment.I would sugest a house or condo.
2007-01-06 11:27:34 · answer #8 · answered by Anna Banana 2 · 1⤊ 0⤋
buy a house. you will be buying the land that the house is on along with it. its a much better investment.
2007-01-05 04:37:46 · answer #9 · answered by Anonymous · 1⤊ 0⤋
If u intend to sell it, then u better buy a house.
2007-01-05 04:46:13 · answer #10 · answered by butterfly_asd 2 · 1⤊ 0⤋