Reply to Validate my view that long-term renting is a valid lifestyle choice

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[quote=Anonymous][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]

I strictly prefer renting to condo. I wouldn't rent a condo either. I only want to deal with a management company, not an individual when it comes to an upscale unit. I hated fighting with the board in the condo I lived in (bought pre-construction, rules were acceptable, new owners started pushing for rule changes later, took lots of time to preserve the important rules, like no dogs in the lobby/main elevators or no hardwood floors or no parties with the professional sound systems in the recreation room, etc.). You also have to deal with some idiots who complain that their internet is not fast enough during the hours when they trade in Tokyo (instead of getting their own internet for their business). Too many annoyances for the cost of living. 
I love the convenience of renting, but I am ready to own again, for different reasons now: I don't want a landlord anymore, who can decide to do maintenance or sell the property at their convenience. I never thought of owning as investing, I can get a rental or REIT for that. [/quote]

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