Reply to Is buying a one-bedroom condo ever a good idea?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It's not worth it. Condos, especially one bedrooms, don't appreciate as much as a house or townhouse does. DC isn't nyc or San Francisco. Unless you plan on living in it and never selling it and using it as a rental, it won't gain as much equity as a house will. I see too many people buying condos and being confused as to why it barely goes up in value in 5 years. Condos have their board that basically control everything and t[b]hey can dictate to raise the condo fees at any given month if the board agrees to it. [/b][/quote]

You don't seem to know exactly how a Condo works. Boards can't raise Condo fees any given month. Board approve budgets for the YEAR. Owners get at least 30 days to review a draft budget before the Board votes on it. The only time a Board can raise fees during a year is if the expenditure is more than 15% of the budget . The owners would have to approve that expenditure.[/quote]

New poster.  This post is a lie. I was living in a condo I owned. I was blocked by politics from renting my own unit. You really do get no say and they get away with "enforcing" rules on you, owners included. You can "vote", but most of the time, it doesn't matter. When you "own" a condo, you don't own anything unless you're directly on the condo board. [/quote]

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