Buying property...question?

[EroticySteve]

Originally Posted by Nickatilynx

Chris,
Here in BC a fucking shed is appreciating a 20% a yr. LOL
A one bed appt downtown is $400k...

Aeon,

Go for it.
Always cool to own your own place.
Also at Mortgage rates these days , your max payment amount of 2k a mth should get you borrowing power of 350k

In Florida condos are a safe investment. Most other areas of the country, i'd put them alongside townhomes in lousy real estate investments, only thing worse being Timeshare.

Look to see how much the association dues are. I found a fabulous condo for $180k, 2 bed 2 bath on the Gulf. A relative steal. However, the $700/mo association dues were the reason why it's a $180k condo. That same condo sold for $225k new. $8400/year is nearly 4 times as much as the annual taxes.

So not all condos are created equal.