The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retire Early Liberal Edition

URL:  http://boards.fool.com/quoti-just-bought-a-2-bed-2-bath-1-car-garage-30318973.aspx

Subject:  Re: intercst a Homeowner Date:  10/14/2012  2:59 PM
Author:  ariechert Number:  45825 of 59765

"I just bought a 2-bed, 2-bath, 1-car garage condo for about 6 times its annual rent. I paid cash, but if I assume a monthly payment on a 3.5% mortgage, mortgage + property taxes + HOA fees = 1/2 the monthly rent on a neighboring unit. That's what it takes to get me to put up with the burdens and hassles of owning a home. Unit was a Fannie Mae foreclosure. They put new cabinets in the kitchen and bathroom vanities, new carpet and paint. Place was in move-in condition I believe this marks the turn in the real estate market." - intercst
--------


Mmmmm? Pretty interesting. I wonder if this revelation might be enough to get lindytoes to buy a condo after she sells her house? She said she is tired of owning a home and upkeep. I think taking care of her giant yard has gotten to be difficult for her at this stage also.

And I guess since it's a condo that means no yard to take care of? No mowing, raking, pruning, etc.? What about when you travel? Can you turn off the heat/air conditioning and just go off and leave it during the summer (if it's in Houston, TX which is what I'm assuming?) if you decide to go to Connecticut to visit?

Art
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us