Skip to main content
No. of Recommendations: 2
"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?

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.