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Reply to "Validate my view that long-term renting is a valid lifestyle choice"
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[quote=Anonymous]All of your reasoning is why I own a condo. I discovered that the construction on my new building was superior to my formerly new-built rental apartment as well. HOAs get me all the conveniences I could ask for and none of the hassle plus I view the condo itself as a nice way of building up savings plus appreciation for when I sell it down the road...or use it as an investment property to rent to someone else. For the bigger condo units and a great building, yes you will end up paying about $1,000/mo in HOAs so that's a gamble. But right now my HOA + mortgage combined are $1,220 less a month than a similar full-service apartment building in my area that has an the same features. Renting in a really nice place like that would cost me about $6,800/mo - see http://13thandu.com/. I'd rather just buy the unit and not give up that cash.[/quote]
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