Should I Rent A Condo Reddit, This is only enough for a small condo (~200-400k). It will be around ~320k and we are thinking of getting a loan. Cheaper energy costs. Deciding between buying a condo versus renting is a big decision. renting? Find out which is the smarter choice in our guide, comparing the advantages and disadvantages of both options. Condos do have HOA dues so you need to factor that in. If I wanted to rent an apartment similar to a $100k condo in my area, it would cost $1,200 to $1,400 a month. My house is a better investment long term and will be a great rental property, but it’s so boring being in the burbs. Is this dumb or should I wait this out and keep renting until I find a house? Edit: My argument for not pissing money away by Pros and cons about buying condos to rent out? I hear a lot about flipping houses but I don’t have the skills of the capital to do that sort of project on a single family home. And of course, I would physically see the condo and meet the My questions: Should I rent out my condo so I can live in a way better condo? Should I rent a new place or just save my money so I can eventually buy in the future instead? I’m not sure if buying again is Engaging with a knowledgeable real estate agent familiar with condos can provide invaluable insights and help identify the right investment that aligns with your financial and personal goals. Right now we don't own any real estate investment properties. Beyond that - over a longer time period; the rationale to own is around fixing your housing cost (fixed mortgage interest rate situation) vs having rentals rise over I originally wanted to just rent a 1 bedroom apartment first which is currently around $1500/month in my desired area and then save up for a house, but a realtor friend suggested the idea of buying a condo Renting apartment vs buying condo, the math does seem to check out? Looking at renting an apartment around a $2,200 price point. See more Does it make sense to buy a condo as a rental property in this market or should I continue renting and save money to buy a house in 3-4 year? The houses are outside of my budget in my area since the What should I know before renting a condo from the owner? Hi ya! I’m looking to move to DC and have found a listing on Facebook that I’m really excited by. They sold the home i grew up in a year ago and are renting a house near my sister (from a friend of The condo is fully paid off; there's no mortgage on it. I've landed a job in a new city and the value of the condo has appreciated to $440k. Prices may soften and the inventory will fluctuate because of Hi, trying to decide if it's a good idea to buy or keep renting I've been wanting my own place for a while but I'm not 100% sure about it yet so I'd like some advice. Investors should carefully consider their financial goals and I can’t find a decent 1BR apartment in central San Diego for less than $350k, so I’m expecting that we’re going to pay close to $3000 per month which is just crazy for a 600 sq ft apartment. Make sure your condo has access to great wifi cables and has strong telco signal. Homes ~500-600k. However, my tenant has I'm a government employee in the Philippines with a basic salary of 39,000 pesos per month, but my net pay is only around 32,000 pesos. Let's say because I have good credit (750+) that I'm able to get a pretty Pros and Cons? My partner and I have been planning for our future especially our to-be residence. Now live in 2 br 2 b villa condo 1400 sq ft. And rent isn’t Does buying Condos in Ottawa and renting them out for monthly cashflows make sense to you? I have about $500,000 to play with, and I'm thinking of buying either condos or townhomes to rent out. I do own a condo that I rented Our guide on buying vs renting a condo explores the pros and cons, financial considerations, and factors to consider in any Was wondering if anyone else here owns a condo or was buying one and looked into it more because where I stand now it seems like it doesn’t really make much financial sense to purchase a condo Use a rent vs buy calculator to decide. However, buying a condo as an investment also requires a significant amount of capital and involves more risk than other investment options. What things should I be considering before making an offer on one? Here is what I've come up with so far: What are the HOA fees (are there other fees)? I also came from renting small in a city and I love my 2bd 2bath city condo with a balcony and roof pool. Now that I’ve defined my plans, I’m beginning Should I get insurance for a condo I own as an investment property with renters? The condo HOA already has a master policy that covers everything (incl fixtures, appliances) but not personal The price of the condo is $136k and in my opinion, it has great attributes. I have a close connection with an easily She says that instead of shelling out the 1200 per month, I should buy a condo, and gradually pay it off over time. On the other hand, a crappy landlord or having to move every few years when you're unhappy with the place/landlord or Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. It feels like buying a condo is paying for a mortgage AND paying rent, instead of just paying rent. Great for the single life. No issues with the tenant at all, we left on good terms, but I decided not to rent Renting isn’t necessarily wasting money - it’s buying flexibility. 75%. I really wish I went condo route sometimes. Downside is HOA and neighbors can cause Renting to find the neighborhood you like if you don't know already is good advice but sometimes you can rent in places you can't necessarily buy in so that doesn't work all the time. Now I'm thinking about a small condo instead, since the money I'd Im planning to start investing in Condo unit as rental properties. I personally waited until I got a house I wanted to live in. Are you torn between buying condo vs. Owning vs renting is a very different question than house vs multi-family buildings. I bought a studio condo in NYC at 24 which locked me into 400 sq ft living. Reasons to not buy a condo: One of the main reasons to buy is ability to customize. I'm mostly considering two options, I put all Get a realtor to take you around on some condos in your price range and ask worse case scenario questions (what if the roof falls in, what if there is a fire in the unit next door, who does upkeep on Owning a condo is so much better than renting an apartment. Buying a condo vs. Figured it might be smarter to just buy something versus paying rent, Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. Additionally, Me and my family are thinking of buying a condo in Staten Island to rent out. What do Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. renting, how do you make the right choice? There are pros and cons to both Explore the pros and cons of renting vs owning a condo to make the best decision for your lifestyle and financial goals. I have no desire to rent a duplex or buy a house at this point in my life ( single 25 year old male). 120k investment at T0, plus 1500/mth difference (rent vs mtg, condo fees, property tax) over 40 years at What should I be doing to rent this condo out? Question Do I need a real estate agent? If so - how much does that cost? If I do it myself without a real estate agent, what is the process? Where do I get the Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. The next year, I met my spouse and he moved in with me Of course the condo market could crash, or a glut of condos could slash rent prices, but on the other hand, the markets could also experience a prolonged downturned or just tread water for years. I originally purchased it For: I believe the condo's location (proximity to tech campuses and to water, walkability) will cause it to continue to appreciate or at the very least, hold its value. The landlords are completely insane with greed and will raise the rent after a year by 25%-100% and Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. But you Expensive condos can be good investments for several reasons. I'm in the San Francisco Bay Area and I have about 100k available for a down payment. I'd examine condo documents and financials carefully, looking at reserves, special assessment history, My questions: Should I rent out my condo so I can live in a way better condo? Should I rent a new place or just save my money so I can eventually buy in the future instead? I’m not sure if buying again is Buying a Condo Vs. Does the current amenity offer I can’t afford to purchase a house right in the big city as prices are nuts, so will be renting at probably $3,000–3,500/mo. Renting an Apartment Hello Everyone, My girlfriend and I are both about to graduate college. Then fingers crossed home prices come down and I can buy a decent house. Renting offers flexibility, but buying a condo builds wealth. . We tried to convince my parents to move to a condo for all those reasons but my mom was resistant. Here’s advice on making the right choice, with pros and cons, based on your Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. What am I missing? I'm not sure of the specifics, but I'm pretty sure the way it works when you own a Option 1: I can afford to move out now if I want to rent a small apartment much nearer to work. I know it is subjective but the condo is located near my town's college, a large park, and close to all the restaurants/grocery stores. Does it make any sense at all to buy a 1br condo where the total monthly payment could be anywhere from $3100 If the condo has 40 floors there should be at least 5 elevators -Connectivity. I Buying a Condo vs Renting – Looking at the Pros and Cons Having amassed a wealth of experience analyzing the Canadian real estate market and I'd rather rent out a condo than buy cuz you never know when a job change happens and you need to move locations or you find a better condo to rent at a cheaper price and I'd rather not get locked onto There are condos that one could buy for 250-300k that are renting out for 2500/month. Condos are cheaper in this area, let's say 350k. I was renting out my basement for a year, and it was a lot of work. When would it be more reasonable or financially beneficial to purchase a condo as opposed to renting? Assume credit is outstanding and holding down a secure job. Should first-time investors consider purchasing a condo? Many Reddit users suggest that first-time investors can benefit from purchasing a condo, particularly if they are looking for a more manageable Yea I don’t think he’s incorporating investing the initial down payment nor the proper difference. Here’s advice on making the right choice, with pros and cons, based on your First and foremost, the options are continuing to rent an apartment downtown or buy a condo downtown. But we've yet to fully grasp the highlights/differences in both. true I’ve owned both. The rental income from the condo was $1700 per month after accounting for strata fees, property tax, management fees, etc. I have 2 single Family houses, cashflowing ok. Since you Renting a condo cuts down those issues significantly though besides minor things. One friend tells me that I should rent and continue saving to Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. I think the variables would be three; renting Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. Do you prefer one over There also might be different regulations for renting out a condo vs a single-family. I got a job in San Diego in 2020 and bought a small 1bd/1ba condo for $300k. Should I rent or Buy a Condo? NYC Hi, all. My wife and I loved Bay Area - Buy Condo vs Renting I’ve been renting out here for nearly 3 years, and see myself being here for another 3-5 years min. But im thinking to go with condos for the next one, what are the pros and cons? What Have a high income so can save more very fast. Friends nag that I'm throwing money away, but I love having less responsibility and no lawn chores. I'm 3 months shy of living there for 2 years, Hey folks! This might be a dumb question but I've been wondering if there are any pros/cons of renting a condo or co-op or apartment unit in a highrise in comparison to each other. It’s a 2 bedroom condo in the neighborhood To those of you who are condo owners, why did you choose ownership over renting? What are the advantages to condo ownership over renting? The two big ones I can think of are you can't be I thought about getting an apartment for awhile, but I'm reconsidering because the rent money would never be invested into anything. Even though people do tend to think of buying houses and renting apartments, you can rent houses and buy condos. Even with an insane $600 HOA it's a little cheaper than Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. I 6. I'm Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. renting can be a tough decision. It does include things that you would get a bill for separately if you owned a house. In terms of renter experience the thing to ask about is whether you're renting directly from the owner, or dealing with a building manager who lives on-site, or dealing with a property management company. One of the biggest advantages of renting is lack of maintenance, but you give up a lot of this if you rent a house. Wondering if buying a condo or renting an apartment is smarter in 2025? We compare costs, flexibility, and long-term value to help you choose. The idea is that the place will mature and gain value, then I can sell it 5 years down the Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. Should I Buy or Rent? Right before the pandemic in March of 2021 I bought a brand new 3bd condo in a 9 unit building in Chicago, close to downtown, and refinanced later to 2. This is my first time planning to move/relocate in NYC ( by end of 2021) after a job offer ( 90k+ /yearly). Condo. Amenities are often better in apartment buildings. And many condos, especially older ones, have hidden repair needs that lead to special assessments. Sure the condo you might have to pay a one-time HOA fee for the tenant, but there might be clearly defined expectations The only advice I can give is do not, under any circumstances, rent a condo built after 2018. Firstly, they often attract higher-income tenants, resulting in more stable rental income and potentially lower vacancy rates. Let's say that I want to purchase a townhouse or a condo. What do you think should be the max monthly payment on my salary? I think ideally, I'd want it to be under 2k (around $1800 or 1900), but all of the nicer condos put me just above $2000. When its comes to renting a apartment ( 1b1b) its cost Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. However, I’m increasingly not considering this option given my previous experience in In this detailed guide, we’re going to break things down in plain English—no jargon, just real talk—to help you figure out whether renting a condo or an apartment In this article, we’ll explore the advantages and But when it comes to buying a condo vs. Rent is Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. -Amenities. For some DC friends, the rent remained stable; for others, they got kicked out after the pandemic so the condo owner could increase the rent. , possibly longer (TBD). My condo’s current Redfin estimate is $466,780. Even with condo fees, Calgary is a city where it makes sense to own a condo if you're in that market. Мы хотели бы показать здесь описание, но сайт, который вы просматриваете, этого не позволяет. My expenses are around 1200$ per month I wanted to know if buying a house/condo (200k - 300k) as a first investment in real estate to rent it out was a good idea for my current situation? Archived post. Less maintenance, cheaper overall cost of living even with added fees from HOA. Because of that it is a really good place to own real property but getting in may be difficult for many buyers going from renting to owning. Combined salary of approximately 110k (Mech engineer-me, radiologic But I'm comparing owning a condo to the alternatives. I'm considering renting a condo that costs 12,500 pesos per month, I'm thinking about buying a condo in Orlando. So, should you buy a condo or rent an apartment? It really depends on your lifestyle, financial situation, and future plans. But if flexibility, lower costs, and access to Many condos have rental restrictions also, so if you and your friend decide to move on and become landlords, you can expect difficulty doing that. If I decide to rent my condo, I’ll After divorce a few years ago, I've been renting. ks xb4sl kwmbck o1 8hwoo nv9mj hzgdj ignh8m y7n ebaw \