My boyfriend and I went to an open house yesterday. We had been creeping on some real estate listings and this house was seemingly perfect (though way out of range of anything we’d be able to afford right now). It did not disappoint. There were one or two things that I could have nitpicked, but the house was amazing.
Anyway, in my creeping of real estate listings, I’ve started looking at condos. There are a few condos that run for around $120,000 or so (there was even one that would have a mortgage smaller than my student loans!). I am thinking I’m staying for another year and keeping the second job (as much as I feel like my life is on hold), but I’m thinking buying a condo might not be a bad decision toward the end of the year. I’d hopefully be able to take advantage of low real estate prices, and have a place set up to live when I move (presumably) next May. We could live there for two or three years, paying about or less than we’d pay for rent, maybe have one baby, then move into something bigger and rent it out (for more than the mortgage). I’d even get some tax deductions in the mix. Obviously I’d have to consider that it might not always be rented and owning comes with maintenance costs, but it seems like it might be something to really think about.
Any landlords or homeowners have any advice?