We Are Wanting To Sell Our Condo
By KrauseHome
@KrauseHome (36445)
United States
November 11, 2007 7:46pm CST
and buy something bigger, and have even started looking. The main issue though, is making sure we could get approved so that we could afford something like this. We are looking at Brand New townhomes, and thinking this could be the way to go to help make sure we would not have to spend thousands in repairs, New appliances, etc. in just the next 5-10 yrs.
The main reason we have decided to do this now, is that they are thinking of making assessments on our Condo, and then make us pay for the repairs, and at one time, they were saying this would be $30,000. This would have to be paid back in like 10 yrs. at longest, so this means like $750 a month we would have to pay, and it would probably not increase the price of our Condo, and we would be stuck and at a loss I am sure if we choose to stay here.
Main issue, is housing is not cheap here in the Seattle area. It is Very Expensive to no matter what we do, we will have to pay over $1,500 a month probably when we buy. But we feel if it is Brand New then we are making the better decision and hopefully will end up making the best deal overall all around in the end.
Does anyone else have any suggestions or thoughts for us, and have been thru the same dilema? Just curious what others might suggest for us, and anything else that you might want to suggest us to check out, look into, that might be of help.
2 people like this
4 responses
@ssh123 (31071)
• India
12 Nov 07
Real estate prices have gone up cent percent and in Bangalore city it has gone up by 200% in the last 2 years due to influex of population and a rapid growth in Information Technology Industry.
It is always worth buying a new flat/house so that the returns are higher when you sell the flat/house at the time of buying a new one.
You seem to have planned well. Many people in big cities move towards the satellite town, because the prices are cheaper there and over a period of time, it increases.
Purchase of a house/flat depends on regular income one gets. But it is not advisible to spend substantial part of the income on owning a house/flat of a bigger size, because there will be drain on the savings.
1 person likes this
@KrauseHome (36445)
• United States
19 Nov 07
Well, good thoughts here, and we are just trying to keep the payments at not much more than what we are paying now. It is up to a Bank, etc. to decide what will be the Best way for us to go about it from here.
@cher913 (25781)
• Canada
12 Nov 07
well i guess you will have to stay there and be happy or pay! we are kind of in the same place, we cannot afford to fix it up, yet we want to move (not to something larger, but not so many levels - 23 have 5. i have really bad knees and need to move) but we will see what we will do, we may just sell it as a loss?!
good luck!
1 person likes this
@KrauseHome (36445)
• United States
17 Nov 07
Well, actually, we have applied for a loan on the New place, and should hear something back from it probably by Tuesday. If we are denied, we are not giving up, as we have a lot of issues with wanting to stay where we are, and have really outgrown this place as well. But I know no matter what happens, it will be Gods will, and truly for the best.
@AxranraRose82 (1120)
• United States
17 Nov 07
Now I understand when people say DON'T buy a CONDO!! I cannot believe what they are trying to do to you. Why do they get a say in what appliances are in YOUR house? There is no reason for that! And who is making these repairs- i hope they don't get to decide that?! You should get a say in who you choose to do the repairs if it is costing you that much money- or at least that you could get a second opinion on their estimates.
And why on earth do they feel they need to cost You $30,000 when it isn't going to increase the value of your home! I would get out of there fast!!
Be careful what you choose- if you get a townhouse don't buy anything that might have rules like a condo does! You don't want that hassle again!! I would advise against getting anything brand-new unless there have been some others there for a while that are pleased with the place. You don't want to walk blind into something and suddenly have all sorts of things go wrong. I knew people who bought $300,000 homes (at the time that was a big, single house in our area) brand-new and then found out a few months later that they were built horribly. Windows and doors leaked tons of air, water was getting in the walls because of bad plumbing and more...it was a mess for homeowners! Get an inspector of YOUR choice (don't let your real estate person choose for you and especially don't let the builders choose for you!) but make sure to get lots of good references for who you pick!
I wish you the best- I have heard buying a home is difficult right now!
@suspenseful (40192)
• Canada
10 Nov 09
Our house is not that big, and because of my husband's disability, he wanted to first move to a condo, but then as he started thinking - the cost would have been astronomical. So we are staying in our house. I hope you find a nice little house that you will love. It is so much better having property you own then having to rent and pay fees. I do hear that house prices are down because of the foreclosures, so I am sure you will get a bargain. And thanks for the best response.
1 person likes this
