Question Details

LA, Home Buyer in New Jersey

Should I sell my condo or keep as an investment property?

Asked by LA, New Jersey Sun Jan 13, 2008

I need 80k for a new home down payment. I can save the money in one year or I can sell my condo now and start looking for a home? Does it make sense to save for one year to keep my condo as an investment property?

thanks

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Answers

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If you can afford to keep your condo, and the rental market is good (talk to a rental company) keep your property. This is a tough time to sell and a great time to buy. So buy a property and hold on to your condo until the market picks up again.
After saying that I have to also say that on the East Coast (at least in the Delaware area) the market is starting to move a little.
1 vote Thank Flag Link Sun Jan 13, 2008
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