Now or wait?

Posted: Mon, Jun 11 2012, 12:25 pm Post subject: now or wait?

We can buy a condo now, use up most of our savings but we can do it. I don't want to live in a condo forever but some people are saying it's a good starter home and it can be sold for good value in a few years.
We would buy a home but we cannot afford it in this neighborhood and if we buy a home that we can afford it will be out of the neighborhood and much harder to resell if we chose to move. We have not decided to live here forever, I have issues with the community and it's far from ideal but we have family and decent jobs here so until we find something better this is most responsible place for us.
We are just sick of paying rent, throwing money down the toilet and paying someone else's mortgage. The difference in price monthly is only a few hundred dollars but the commitment and risk of buying a place is huge.

What would you do?

Feel free to ask questions for clarification.

Posted: Fri, Jun 29 2012, 1:03 pm Post subject: re: now or wait?

depends where you live, where I live it is extremely hard to sell condos, plus you pay a monthly maintnace fee, have to see if it's worth it, or better to save up to buy a home if you want to in a few years anyways.