Reply to Condos- are they a bad investment?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Depends on location. In cities, maybe. In suburbs, no. Especially with condo fees. [/quote]

It’s neither really. It’s a rural ski town with a small historic downtown with small dense lots and homes about 1k-3k square feet. The big new ones are expensive- like $7 million. Then there’s a ski base area that has most 1970’s-80’s buildings in low-average condition, all walk up and about 100 homes in the mountains that are 1.5-10 million. 
Then about 3-5 miles out there are mixed communities with homes ranging from 1.25-10million. I’m wondering which area we should choose. Right now our budget is the condo or townhouse in the older building but if we wait a few years it opens up doors to get a small home on the lower price range a few miles out. [/quote]

If you can do short term rentals in your condo, you should be fine.  Usually in this type of environment there are also property management companies that would be glad to service your short term rental for a fee and make it hands off for you.  but if the rules are restrictive and the building is really targeted for the permanent residents or long term renters then I would avoid it.   Rules vary by condo, so make sure to ask all these questions before expanding any effort. [/quote]

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