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Real Estate
Reply to "Condos- are they a bad investment?"
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[quote=Anonymous]We are looking to spend about $800k in a resort area that has a wide range of home prices up to 10mil+, very low inventory, limited areas to build. We can afford a condo at this point. This is a property we hope to hold for 20+ years and retire. Would you wait it out a year or two (we will get a large amount of cash from company going public) to buy a SFH where we own the land or would you get in for the condo (Small cabins or homes are about 1.25). I'm a little hesitant to buy a condo because the ceiling seems to be much lower for long term growth plus HOAs, etc. Owning the land offers more flexibility if we someday want to sell to someone who wants to build a much larger house, etc or we want to build a nicer home ourselves in 20 years. Most of the condos are on the older side too. [/quote]
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