I would focus on your home after this by saving money in your first home. So buy condo instead since they are cheaper.
After three years, you may have more to consider: school district, furnitures and many other expenses. What's wrong if you just save the money to plan for your next dream home?
this is just my gut feeling about your best interest. I am happy to listen to you more. Feel free to contact me 708.668.6491
All the comments and advise below are right on the mark! And yes, a condo is a choice if you prefer a no maintenance lifestyle,but this is a lifestyle choice, not a solid choice for investing in your future. As a buyer's specialist, I can tell you that right now is absolutely the BEST time to buy your first home. Every day I see incredible deals, and the lowest interest rates in history! You may hear a lot of talk about the weak market, but this is an incredible market for first time home buyer! Please give me a call. We can work together to get you the right financing, and find you the absolute perfect first home, for less than you are paying in rent each month!
Your Friend in Real Estate,
The simple answer is no. There are many fine reasons why condos might make sense (ease of living, lack of maintenance, having lawn care, safety of property while gone for long periods). As for a home and large investment, the answer is no. As a local realtor with a lot of experience, it is my supportable opinion that our area in the last 15 years overbuilt the condo market for the demand of this market. Since that time, condo appreciation has been very poor due to this oversupply. Its even worse in a short term (under 5 years). If you have a realtor telling you that it is a good investment, please consider speaking with other professionals in the area. I could provide you with any data or discuss your thoughts to help you make the best decision for your situation. Feel free to call me anytime.