Asked by S R, 85287 • Thu May 8, 2008
So, my lease ends in two months and i am looking for a rental condo within walking distance to ASU. Meanwhile, I am also wondering if I should buy a 2/2/ condo in that area - I would be spending a little more than rent on the mortgage and at the end, I do have an asset. I am looking at a value of 200,000 or lesser.
The one problem, if at all, is that, I graduate in Dec 09. After that, my furture is pretty much uncertain witha large probablity that I might land a job elsewhere. If I can't resell it, then the maximum I can hold on to it is for another 6-12 months (by renting it out).
Is this a worthwhile investment for me? I atleast want to break even on the price i bought it for (after maintenance, HOA fee, appreciation/depreciation, agent fee, etc). IS it ok, in general, to buy 20 year-old condos (with regards to maintenance)?
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