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Real Estate
Reply to "Condo, move really far out, or keep saving? "
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[quote=Anonymous][quote=Anonymous]Keep saving. $2k+ rent is not too bad in this area. Owning property means build equity but also paying tax, insurance, hoa/ maintenance and mortgage interest. In your situation (similar to mine) I would keep rent because of the flexibility to move, other than work place, you also have school age kids and this should be important to consider where you should buy.[/quote] +1 It’s concerning that you haven’t been able to save while renting, and even a condo would have a payment of more than what you’re paying now. As soon as you move you could have an emergency of needing a new HVAC system and needing to pay as much as $10,000. Maybe something else will break too, or your basement will flood. I would save more as PP suggested and have a healthy cushion going in. Also budget 1% of the value of the property annually for maintenance going forward. [/quote]
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