2007-01-17 13:41:07 · 6 answers · asked by S-a 3 in Business & Finance ➔ Renting & Real Estate
First let me say there is Nothing wrong with Condos,However when you look for financing your going to find it more of a challenge not to mention there are condo association fee to be paided along with property taxes and insurance
You should look for a stick built house or a modular not a manufactured or shall we say Mobile home single or double wide!!!
A stick built house is easy to get financed and you can use the equity that you build up for other things like debt consolidation and there are many more bank who will want to work with you.
They will also give you a better interest rate which means a low monthly payment!!!
One more thing For real help find a good Mortgage Broker before talking to a Realtor they will tell you how much you can afford to spend based on how much of a payment you can afford each month.
2007-01-17 15:09:30 · answer #1 · answered by jackdbail 1 · 0⤊ 0⤋
First of all know what you're getting into. Talk to owners near the area who live in similar condos.
I lived in a townhome and then a condo and they were both bad experiences.
If you don't mind "appartment" life then you'll be ok. The occasional footsteps from the neighbor, loud music, phone ringing, headboard against the wall....you know what I mean.
Well we couldn't stand it and with a baby on the way we had to get into a single family home....the best decision we ever made. We've never settled down this long before (been here almost 4 years) and actually live 50miles from work but I don't care!
If you do plan on going to a condo/townhome unit make sure you understand the condo fees and what they actually pay for (snow removal on the roads, maintenance, general electric for street lights in the neighborhood, heat, hydro...) Buying a condo can look good but after you add the fees you may as well look into getting your own home.
Take care and good luck with it.
Marc
2007-01-17 21:48:44 · answer #2 · answered by B 2 · 1⤊ 0⤋
If you are buying a condo make sure the service or conservancy charges are not likely to go up. My son bought a managed apartment in the city and his service charges kept going up. Now he thinks that the charges he is paying is almost a high as rental for the apartment.
2007-01-17 21:55:40 · answer #3 · answered by buddyperx 2 · 0⤊ 0⤋
Find a Realtor who has a lot of experience with first time buyers. Their service is free and they'll explain the whole process to you.
2007-01-17 21:47:46 · answer #4 · answered by operababe_61 3 · 0⤊ 0⤋
Ask for an inspection which will contingent on whether you buy or not.
2007-01-17 21:46:44 · answer #5 · answered by CeCe M 3 · 0⤊ 0⤋
check out this site:
http://www.jbsellsrealestate.com/For_Buyers/page_1758621.html
2007-01-17 22:24:19 · answer #6 · answered by ron d 3 · 0⤊ 0⤋