No. of Recommendations: 0

I'm looking at purchasing a Condo. My main reason for buying is stability- I want to have a "home", not have to worry about increasing rent payments and plan on staying for at least 5 years if not more. This would be my first purchase. I also plan on trying to pay down the mortgage as quickly as possible since I just don't like debt (I understand that this is not always the best financial decision but it's a personal one I am comfortable with).

I can easily afford a one bedroom condo but have been advised that I am better off with a two bedroom condo. I understand the reasoning- the resale value is better on two bedroom condos. I could be content with a large one bedroom and more affordable payments. I can also afford the two bedroom condo but would have to cut some of my savings. I am open to any advice and opinions.


Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.